Invesco Ltd. Sells 510,271 Shares of Plug Power Inc. (NASDAQ:PLUG)

Invesco Ltd. decreased its holdings in Plug Power Inc. (NASDAQ:PLUG - Free Report) by 11.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,961,363 shares of the electronics maker's stock after selling 510,271 shares during the period. Invesco Ltd. owned about 0.43% of Plug Power worth $8,438,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Plug Power during the fourth quarter worth approximately $146,465,000. Vanguard Group Inc. increased its holdings in Plug Power by 5.4% during the 4th quarter. Vanguard Group Inc. now owns 87,438,503 shares of the electronics maker's stock worth $186,244,000 after purchasing an additional 4,491,114 shares during the period. Geode Capital Management LLC raised its position in Plug Power by 3.8% during the 4th quarter. Geode Capital Management LLC now owns 19,917,268 shares of the electronics maker's stock valued at $42,434,000 after purchasing an additional 722,639 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Plug Power by 75.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,407,949 shares of the electronics maker's stock worth $2,999,000 after buying an additional 604,068 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of Plug Power by 8.1% during the 4th quarter. Bank of New York Mellon Corp now owns 2,452,369 shares of the electronics maker's stock worth $5,224,000 after buying an additional 183,438 shares in the last quarter. 43.48% of the stock is owned by hedge funds and other institutional investors.

Plug Power Stock Down 3.7 %

NASDAQ:PLUG opened at $0.84 on Thursday. The company has a current ratio of 2.08, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. Plug Power Inc. has a twelve month low of $0.76 and a twelve month high of $4.90. The company has a market cap of $779.00 million, a PE ratio of -0.39 and a beta of 2.07. The company's 50 day moving average is $1.41 and its two-hundred day moving average is $1.93.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on PLUG shares. HC Wainwright reaffirmed a "buy" rating and issued a $3.00 price objective on shares of Plug Power in a research note on Monday, March 24th. Susquehanna lowered their price target on shares of Plug Power from $1.80 to $1.25 and set a "neutral" rating for the company in a research report on Monday, April 14th. Seaport Res Ptn lowered shares of Plug Power from a "hold" rating to a "strong sell" rating in a report on Monday, January 27th. Canaccord Genuity Group lowered their target price on Plug Power from $2.00 to $1.25 and set a "hold" rating for the company in a report on Wednesday, March 5th. Finally, UBS Group cut their price target on Plug Power from $2.50 to $1.75 and set a "neutral" rating on the stock in a report on Friday, March 21st. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $2.29.

About Plug Power

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.

Want to see what other hedge funds are holding PLUG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Plug Power Inc. (NASDAQ:PLUG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.