Brighton Jones LLC purchased a new position in shares of Plug Power, Inc. (NASDAQ:PLUG) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 50,226 shares of the electronics maker’s stock, valued at approximately $102,000.

A number of other institutional investors have also made changes to their positions in the stock. Bank of New York Mellon Corp increased its position in shares of Plug Power by 20.4% in the second quarter. Bank of New York Mellon Corp now owns 942,878 shares of the electronics maker’s stock worth $1,923,000 after buying an additional 159,843 shares during the period. Rhumbline Advisers boosted its stake in shares of Plug Power by 13.3% in the second quarter. Rhumbline Advisers now owns 241,748 shares of the electronics maker’s stock worth $493,000 after buying an additional 28,442 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of Plug Power by 44.2% in the second quarter. First Trust Advisors LP now owns 232,094 shares of the electronics maker’s stock worth $473,000 after buying an additional 71,126 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Plug Power by 58.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,217,301 shares of the electronics maker’s stock worth $2,484,000 after buying an additional 448,639 shares in the last quarter. Finally, Aperio Group LLC boosted its stake in shares of Plug Power by 6.4% in the second quarter. Aperio Group LLC now owns 119,061 shares of the electronics maker’s stock worth $243,000 after buying an additional 7,166 shares in the last quarter. 23.79% of the stock is owned by hedge funds and other institutional investors.

Shares of Plug Power, Inc. (NASDAQ:PLUG) opened at 2.13 on Thursday. The stock’s 50 day moving average price is $2.17 and its 200 day moving average price is $1.85. The stock’s market cap is $478.67 million. Plug Power, Inc. has a 1-year low of $0.83 and a 1-year high of $2.70.

Plug Power (NASDAQ:PLUG) last posted its quarterly earnings results on Tuesday, August 8th. The electronics maker reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by $0.03. Plug Power had a negative return on equity of 86.35% and a negative net margin of 112.95%. The business had revenue of $22.60 million for the quarter, compared to the consensus estimate of $28.58 million. During the same quarter in the previous year, the business posted ($0.04) EPS. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. On average, equities research analysts anticipate that Plug Power, Inc. will post ($0.32) EPS for the current fiscal year.

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PLUG has been the subject of a number of research reports. FBR & Co reiterated an “outperform” rating and issued a $3.00 price objective on shares of Plug Power in a research note on Wednesday, May 3rd. Roth Capital cut Plug Power from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $2.25 to $1.30 in a research note on Wednesday, May 17th. ValuEngine cut Plug Power from a “hold” rating to a “sell” rating in a research note on Thursday, May 18th. Cowen and Company set a $3.00 price objective on Plug Power and gave the company a “buy” rating in a research note on Monday, July 10th. Finally, Zacks Investment Research cut Plug Power from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 12th. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $2.83.

Plug Power Company Profile

Plug Power Inc is a provider of alternative energy technology focused on the design, development, commercialization and manufacture of hydrogen fuel cell systems used for the industrial off-road market and the stationary power market. The Company’s product line includes GenKey, GenDrive, GenFuel, GenCare and ReliOn.

Institutional Ownership by Quarter for Plug Power (NASDAQ:PLUG)

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