JPMorgan Chase & Co. cut its stake in  Plug Power Inc. (NASDAQ:PLUG) by 83.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor  owned 449,409 shares of the electronics maker's stock after selling 2,335,786 shares during the quarter. JPMorgan Chase & Co. owned about 0.08% of Plug Power worth $7,447,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Stonehage Fleming Financial Services Holdings Ltd bought a new position in shares of  Plug Power in the second quarter worth approximately $27,000.  Catalyst Capital Advisors LLC increased its holdings in  Plug Power by 274.1% in the 1st quarter. Catalyst Capital Advisors LLC now owns 1,837 shares of the electronics maker's stock worth $53,000 after acquiring an additional 1,346 shares in the last quarter.  Sandy Spring Bank raised its stake in  Plug Power by 3,363.6% during the 2nd quarter. Sandy Spring Bank now owns 1,905 shares of the electronics maker's stock valued at $32,000 after purchasing an additional 1,850 shares during the period.  Millburn Ridgefield Corp grew its position in shares of  Plug Power by 54.7% during the second quarter. Millburn Ridgefield Corp now owns 2,841 shares of the electronics maker's stock valued at $47,000 after purchasing an additional 1,004 shares in the last quarter.  Finally, Oliver Lagore Vanvalin Investment Group bought a new position in  Plug Power during the first quarter valued at $85,000. Institutional investors own  51.09% of the company's stock.

Get Plug Power alerts:

Plug Power Stock Performance

Plug Power stock opened at $13.68 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 6.09 and a quick ratio of 5.23. The company has a market cap of $7.97 billion, a P/E ratio of -11.52 and a beta of 1.56. Plug Power Inc. has a fifty-two week low of $12.70 and a fifty-two week high of $37.08. The firm's 50 day simple moving average is $17.18 and its 200-day simple moving average is $20.11.

Wall Street Analysts Forecast Growth

PLUG has been the topic of a number of research analyst reports. Susquehanna Bancshares cut their price target on shares of Plug Power from $30.00 to $28.00 in a report on Wednesday, November 9th. Jefferies Financial Group started coverage on shares of Plug Power in a research report on Tuesday, October 18th. They set a "buy" rating and a $28.00 target price on the stock. Royal Bank of Canada lowered their price target on shares of Plug Power from $24.00 to $20.00 and set an "outperform" rating on the stock in a report on Wednesday, November 9th. TheStreet cut Plug Power from a "c-" rating to a "d+" rating in a research note on Monday, October 10th. Finally, Roth Capital  reaffirmed a "buy" rating on shares of Plug Power in a report on Thursday, October 20th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued  a buy rating to the company. Based on data from MarketBeat, the company  has an average rating of "Moderate Buy" and an average price target of $27.09.

Plug Power Profile

Plug Power Inc delivers end-to-end clean hydrogen and zero-emissions fuel cell solutions for supply chain and logistics applications, on-road electric vehicles, stationary power market, and others in North America and internationally. It engages in building an end-to-end green hydrogen ecosystem, including green hydrogen production, storage and delivery, and energy generation through mobile or stationary applications.