Schwab Charles Investment Management Inc. boosted its position in Plug Power, Inc. (NASDAQ:PLUG) by 51.8% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 768,662 shares of the electronics maker’s stock after buying an additional 262,147 shares during the period. Schwab Charles Investment Management Inc. owned about 0.40% of Plug Power worth $1,061,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Plug Power by 10.2% in the first quarter. Vanguard Group Inc. now owns 7,988,456 shares of the electronics maker’s stock worth $11,024,000 after buying an additional 738,875 shares during the last quarter. Parametric Portfolio Associates LLC bought a new position in shares of Plug Power during the first quarter worth about $649,000. Geode Capital Management LLC raised its position in shares of Plug Power by 30.4% in the first quarter. Geode Capital Management LLC now owns 1,750,660 shares of the electronics maker’s stock worth $2,415,000 after buying an additional 407,653 shares during the period. Karp Capital Management Corp bought a new position in shares of Plug Power during the first quarter worth about $154,000. Finally, Bank of New York Mellon Corp raised its position in shares of Plug Power by 14.1% in the first quarter. Bank of New York Mellon Corp now owns 783,035 shares of the electronics maker’s stock worth $1,080,000 after buying an additional 96,793 shares during the period. Institutional investors and hedge funds own 23.79% of the company’s stock.

Shares of Plug Power, Inc. (PLUG) traded up 1.41% during midday trading on Thursday, reaching $2.16. 838,084 shares of the company’s stock traded hands. The stock’s market cap is $485.42 million. The stock has a 50 day moving average of $2.17 and a 200-day moving average of $1.85. Plug Power, Inc. has a 52-week low of $0.83 and a 52-week high of $2.70.

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

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

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

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