Economy

Plug Power Inc. (NASDAQ:PLUG) Shooting Higher to New Recent High

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Alliancebernstein L.P. boosted its holdings in shares of Plug Power by 279.4% in the 2nd quarter. Insider ownership during the past year has increased by a net of 590273 shares. (NASDAQ:PLUG)'s stock has changed 162.50%. Aperio Group LLC lifted its position in shares of Plug Power by 6.4% in the second quarter.

Shares of Square, Inc. Bank of New York Mellon Corp now owns 942,878 shares of the electronics maker's stock worth $1,923,000 after purchasing an additional 159,843 shares during the last quarter. Swiss National Bank grew its position in Plug Power by 15.3% in the second quarter. California State Teachers Retirement System now owns 395,969 shares of the electronics maker's stock worth $808,000 after buying an additional 19,300 shares in the last quarter.

A number of key analysts, polled by FactSet, shared their views about the current stock momentum.

In case of Revenue Estimates, 4 analysts have provided their consensus Average Revenue Estimates for Plug Power Inc.as 55.79 Million. Finally, Roth Capital reiterated a "sell" rating and set a $1.30 price objective on shares of Plug Power in a research report on Sunday, July 23rd. Rodman & Renshaw reaffirmed a "buy" rating and issued a $4.00 price objective on shares of Plug Power in a research note on Monday, July 24th. (NASDAQ:PLUG), with 4 analysts believing it is a strong buy.

When it comes to the Analysis of a Stock, Price Target plays a vital role. The SEC filing shows that Mcnamee George C performed a purchase of 200,000 shares. The shares were bought at an average cost of $2.20 per share, with a total value of $440,000.00. In the most recent quarter, institutional ownership increased by a net of 14.95 million shares, or 27.7%.This is a bullish sign and indicates that institutions are feeling more optimistic about the outlook for PLUG overall.74 holders increased their positions, 29 decreased their positions, and 37 holders held their positions. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

TRADEMARK VIOLATION NOTICE: "New Jersey Better Educational Savings Trust Takes $444,000 Position in Plug Power, Inc". If you are accessing this news story on another domain, it was copied illegally and republished in violation of United States & worldwide copyright legislation.

Shares of Plug Power, Inc. PLUG's average trading volatility during the past few weeks is -9.64% lower than the average volatility over the past 100 days.

The Relative Volume of the company is 1.67 and Average Volume (3 months) is 5.13 million.

Currently, the stock carries a price to earnings ratio of 0, a price to book ratio of 0, and a price to sales ratio of 0.

Based on current stock levels, Plug Power Inc. shares are trading -0.76% off of the 50-day high and 49.57% away from the 50-day low. The company's quarterly EPS surprised Wall Street by as much as 150% to the upside in its last earnings announcement, so investors should note this tendency when assessing consensus estimates. Revenue during the quarter was $22.6 million, representing 10% growth from $20.46 million in year-ago quarter. The return on equity ratio or ROE stands at -121.3 percent while most common profitability ratio return on investment (ROI) was -33.3 percent.

While looking at the Stock's Performance, Plug Power Inc. now shows a Weekly Performance of 15.38%, where Monthly Performance is 6.06%, Quarterly performance is 45.16%, 6 Months performance is 50.72% and yearly performance percentage is 121.83%.



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