IFM Investors Pty Ltd grew its position in Plug Power Inc. (NASDAQ:PLUG – Get Rating) by 18.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 76,132 shares of the electronics maker's stock after purchasing an additional 11,814 shares during the quarter. IFM Investors Pty Ltd's holdings in Plug Power were worth $2,178,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PLUG. Benjamin Edwards Inc. bought a new position in shares of Plug Power in the fourth quarter valued at approximately $25,000. Parkside Financial Bank & Trust increased its position in Plug Power by 929.8% during the fourth quarter. Parkside Financial Bank & Trust now owns 968 shares of the electronics maker's stock worth $27,000 after acquiring an additional 874 shares during the period. Acima Private Wealth LLC bought a new position in Plug Power during the fourth quarter worth $28,000. Tyler Stone Wealth Management bought a new position in Plug Power during the fourth quarter worth $28,000. Finally, Webster Bank N. A. increased its position in Plug Power by 62.4% during the first quarter. Webster Bank N. A. now owns 1,015 shares of the electronics maker's stock worth $29,000 after acquiring an additional 390 shares during the period. Institutional investors own 52.07% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PLUG. Piper Sandler boosted their target price on shares of Plug Power from $18.00 to $19.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 19th. Morgan Stanley dropped their target price on shares of Plug Power from $43.00 to $42.00 and set an "overweight" rating on the stock in a research report on Thursday, July 21st. JPMorgan Chase & Co. dropped their target price on shares of Plug Power from $32.00 to $28.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 29th. KeyCorp reiterated an "overweight" rating and set a $30.00 price target on shares of Plug Power in a research note on Thursday, June 30th. Finally, Susquehanna decreased their price target on shares of Plug Power from $33.00 to $30.00 in a research note on Tuesday, May 10th. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $31.86.

Plug Power Stock Performance

Plug Power (NASDAQ:PLUG – Get Rating) last released its quarterly earnings results on Monday, May 9th. The electronics maker reported ($0.27) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.11). Plug Power had a negative net margin of 97.29% and a negative return on equity of 11.78%. The business had revenue of $140.80 million during the quarter, compared to the consensus estimate of $142.99 million. During the same period in the prior year, the firm earned ($0.12) earnings per share. The business's quarterly revenue was up 95.7% compared to the same quarter last year. On average, research analysts anticipate that Plug Power Inc. will post -0.8 earnings per share for the current fiscal year.

Plug Power Profile

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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.

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