Trade Report: Today, California Public Employees Retirement System Cuts Stake in Plug Power Inc. (PLUG)

Today, California Public Employees Retirement System Cuts Stake in Plug Power Inc. (PLUG)

California Public Employees Retirement System cut its stake in shares of Plug Power Inc. (NASDAQ:PLUG) by 3.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 529,400 shares of the company’s stock after selling 16,500 shares during the period. California Public Employees Retirement System owned 0.29% of Plug Power worth $985,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Creative Planning boosted its position in shares of Plug Power by 35.4% in the second quarter. Creative Planning now owns 56,200 shares of the company’s stock valued at $105,000 after buying an additional 14,700 shares during the last quarter. IFC Holdings Incorporated FL increased its stake in shares of Plug Power by 167.1% in the second quarter. IFC Holdings Incorporated FL now owns 101,506 shares of the company’s stock valued at $192,000 after buying an additional 63,506 shares during the period. Metropolitan Life Insurance Co. NY increased its stake in shares of Plug Power by 0.6% in the first quarter. Metropolitan Life Insurance Co. NY now owns 126,594 shares of the company’s stock valued at $260,000 after buying an additional 751 shares during the period. Mount Lucas Management LP increased its stake in shares of Plug Power by 3.3% in the first quarter. Mount Lucas Management LP now owns 165,200 shares of the company’s stock valued at $339,000 after buying an additional 5,200 shares during the period. Finally, Swiss National Bank increased its stake in shares of Plug Power by 4.4% in the second quarter. Swiss National Bank now owns 282,100 shares of the company’s stock valued at $525,000 after buying an additional 12,000 shares during the period. Institutional investors own 18.19% of the company’s stock.

Shares of Plug Power Inc. (NASDAQ:PLUG) traded up 0.329% during midday trading on Tuesday, reaching $1.525. 203,223 shares of the company’s stock traded hands. The firm’s market cap is $275.01 million. Plug Power Inc. has a 12 month low of $1.30 and a 12 month high of $2.98. The stock has a 50-day moving average price of $1.59 and a 200 day moving average price of $1.78.

Plug Power (NASDAQ:PLUG) last issued its quarterly earnings data on Thursday, August 4th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.06) by $0.01. Plug Power had a negative return on equity of 30.92% and a negative net margin of 57.17%. The firm earned $20.50 million during the quarter, compared to the consensus estimate of $25.32 million. During the same period in the previous year, the company posted ($0.06) earnings per share. The company’s revenue for the quarter was down 14.8% on a year-over-year basis. Equities research analysts predict that Plug Power Inc. will post ($0.24) earnings per share for the current year.

PLUG has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Plug Power from a “sell” rating to a “hold” rating in a research note on Friday, June 24th. FBR & Co reiterated a “buy” rating and issued a $3.00 target price on shares of Plug Power in a research note on Tuesday, July 12th. Finally, Roth Capital raised their target price on shares of Plug Power from $1.75 to $2.00 and gave the company a “neutral” rating in a research note on Monday, August 15th.

About Plug Power

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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