State of New Jersey Common Pension Fund D Buys 333,708 Shares of Plug Power Inc. (NASDAQ:PLUG)

State of New Jersey Common Pension Fund D raised its stake in Plug Power Inc. (NASDAQ:PLUG) by 104.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 651,695 shares of the electronics maker’s stock after acquiring an additional 333,708 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.11% of Plug Power worth $2,933,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Handelsbanken Fonder AB raised its holdings in Plug Power by 0.5% in the 4th quarter. Handelsbanken Fonder AB now owns 2,884,635 shares of the electronics maker’s stock valued at $12,981,000 after acquiring an additional 14,500 shares during the period. Waldron Private Wealth LLC bought a new stake in Plug Power during the fourth quarter worth $60,000. Cerity Partners LLC bought a new position in shares of Plug Power in the 4th quarter valued at $755,000. HC Advisors LLC increased its stake in shares of Plug Power by 1.6% in the 4th quarter. HC Advisors LLC now owns 310,200 shares of the electronics maker’s stock valued at $1,396,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Plug Power by 11.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,763,234 shares of the electronics maker’s stock valued at $12,435,000 after purchasing an additional 276,626 shares during the last quarter. 43.48% of the stock is owned by institutional investors.

Plug Power Stock Up 1.3 %

PLUG opened at $2.41 on Monday. The stock has a market cap of $1.65 billion, a PE ratio of -1.05 and a beta of 1.54. The company has a quick ratio of 0.86, a current ratio of 1.85 and a debt-to-equity ratio of 0.18. Plug Power Inc. has a 52 week low of $2.25 and a 52 week high of $13.44. The business’s fifty day simple moving average is $3.25 and its 200 day simple moving average is $4.11.

Plug Power (NASDAQ:PLUG) last released its earnings results on Friday, March 1st. The electronics maker reported ($1.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.52). The firm had revenue of $222.20 million during the quarter, compared to the consensus estimate of $234.21 million. Plug Power had a negative net margin of 153.57% and a negative return on equity of 38.09%. The firm’s revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.38) EPS. As a group, research analysts expect that Plug Power Inc. will post -0.94 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PLUG. Susquehanna decreased their price target on Plug Power from $4.50 to $3.50 and set a “neutral” rating on the stock in a research note on Wednesday, January 24th. UBS Group lowered Plug Power from a “buy” rating to a “neutral” rating and set a $4.75 price objective on the stock. in a research report on Tuesday, February 6th. HSBC cut their target price on Plug Power from $9.00 to $8.50 and set a “buy” rating on the stock in a report on Tuesday, March 5th. Craig Hallum cut their target price on Plug Power from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Monday, March 4th. Finally, BMO Capital Markets downgraded Plug Power from a “market perform” rating to an “underperform” rating and dropped their price objective for the company from $3.50 to $2.50 in a research note on Wednesday, January 24th. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $6.05.

Plug Power Company Profile

Plug Power Inc develops hydrogen and fuel cell product solutions in North America, Europe, Asia, and internationally. The company offers GenDrive, a hydrogen-fueled proton exchange membrane (PEM) fuel cell system that provides power to material handling electric vehicles; GenSure, a stationary fuel cell solution that offers modular PEM fuel cell power to support the backup and grid-support power requirements of the telecommunications, transportation, and utility sectors; ProGen, a fuel cell stack and engine technology used in mobility and stationary fuel cell systems, and as engines in electric delivery vans; GenFuel, a liquid hydrogen fueling delivery, generation, storage, and dispensing system; GenCare, an ongoing Internet of Things-based maintenance and on-site service program for GenDrive fuel cell systems, GenSure fuel cell systems, GenFuel hydrogen storage and dispensing products, and ProGen fuel cell engines; and GenKey, an integrated turn-key solution for transitioning to fuel cell power.