New York State Common Retirement Fund Acquires 26,700 Shares of Plug Power Inc. (NASDAQ:PLUG)

New York State Common Retirement Fund boosted its holdings in Plug Power Inc. (NASDAQ:PLUG) by 13.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 219,473 shares of the electronics maker’s stock after acquiring an additional 26,700 shares during the period. New York State Common Retirement Fund’s holdings in Plug Power were worth $467,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in PLUG. Geode Capital Management LLC raised its stake in Plug Power by 23.6% in the 3rd quarter. Geode Capital Management LLC now owns 19,194,629 shares of the electronics maker’s stock valued at $43,388,000 after acquiring an additional 3,662,456 shares during the period. Charles Schwab Investment Management Inc. increased its position in Plug Power by 25.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,637,039 shares of the electronics maker’s stock worth $15,000,000 after buying an additional 1,354,500 shares during the period. XTX Topco Ltd bought a new position in Plug Power during the 3rd quarter worth $2,174,000. Van ECK Associates Corp increased its position in Plug Power by 23.6% during the 3rd quarter. Van ECK Associates Corp now owns 4,232,001 shares of the electronics maker’s stock worth $8,803,000 after buying an additional 809,187 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in Plug Power by 24.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,421,222 shares of the electronics maker’s stock worth $5,472,000 after buying an additional 476,060 shares during the period. Institutional investors own 43.48% of the company’s stock.

Plug Power Stock Performance

Shares of PLUG opened at $1.62 on Wednesday. The firm has a market cap of $1.48 billion, a PE ratio of -0.76 and a beta of 1.79. The stock’s fifty day moving average price is $2.09 and its two-hundred day moving average price is $2.11. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.08 and a quick ratio of 0.95. Plug Power Inc. has a 1 year low of $1.37 and a 1 year high of $4.90.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on PLUG shares. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Plug Power in a research note on Wednesday, November 13th. StockNews.com raised Plug Power to a “sell” rating in a research report on Tuesday. Canaccord Genuity Group cut their target price on Plug Power from $2.50 to $2.25 and set a “hold” rating on the stock in a research report on Wednesday, November 13th. Susquehanna lifted their target price on Plug Power from $2.00 to $2.50 and gave the company a “neutral” rating in a research report on Thursday, January 16th. Finally, Craig Hallum cut their target price on Plug Power from $4.00 to $3.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Plug Power presently has a consensus rating of “Hold” and a consensus target price of $4.12.

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.