Vontobel Holding Ltd. Has $4.68 Million Stake in Plug Power, Inc. (NASDAQ:PLUG)

Vontobel Holding Ltd. grew its holdings in Plug Power, Inc. (NASDAQ:PLUG - Free Report) by 23.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,465,804 shares of the electronics maker's stock after acquiring an additional 648,058 shares during the quarter. Vontobel Holding Ltd. owned 0.37% of Plug Power worth $4,679,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of PLUG. Jones Financial Companies Lllp increased its stake in Plug Power by 107.4% during the 4th quarter. Jones Financial Companies Lllp now owns 11,730 shares of the electronics maker's stock worth $25,000 after purchasing an additional 6,074 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new position in shares of Plug Power in the fourth quarter valued at approximately $25,000. Miracle Mile Advisors LLC acquired a new position in shares of Plug Power in the first quarter valued at approximately $26,000. Callan Family Office LLC bought a new stake in shares of Plug Power during the fourth quarter worth $27,000. Finally, Ground Swell Capital LLC acquired a new stake in shares of Plug Power during the fourth quarter worth $27,000. Institutional investors and hedge funds own 43.48% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on PLUG shares. Jefferies Financial Group cut their price target on Plug Power from $1.70 to $0.90 and set a "hold" rating on the stock in a report on Tuesday, May 20th. Morgan Stanley cut their target price on Plug Power from $1.25 to $0.50 and set an "underweight" rating on the stock in a research note on Monday, May 19th. Wells Fargo & Company reduced their price target on Plug Power from $2.00 to $1.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 14th. HC Wainwright reiterated a "buy" rating and issued a $3.00 price objective on shares of Plug Power in a report on Monday, March 24th. Finally, Roth Capital restated a "buy" rating on shares of Plug Power in a report on Tuesday, May 13th. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $1.83.

Plug Power Stock Up 3.9%

PLUG stock opened at $1.46 on Friday. Plug Power, Inc. has a fifty-two week low of $0.69 and a fifty-two week high of $3.34. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.95 and a quick ratio of 1.07. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of -0.59 and a beta of 2.29. The business's fifty day moving average price is $1.00 and its two-hundred day moving average price is $1.52.

Plug Power (NASDAQ:PLUG - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The electronics maker reported ($0.21) EPS for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.01). Plug Power had a negative return on equity of 82.21% and a negative net margin of 312.29%. The business had revenue of $133.67 million for the quarter, compared to the consensus estimate of $130.92 million. On average, equities analysts anticipate that Plug Power, Inc. will post -1.21 earnings per share for the current year.

Insider Activity at Plug Power

In related news, insider Paul B. Middleton purchased 650,000 shares of the business's stock in a transaction that occurred on Monday, June 9th. The stock was acquired at an average cost of $1.03 per share, for a total transaction of $669,500.00. Following the completion of the purchase, the insider owned 2,558,064 shares in the company, valued at approximately $2,634,805.92. This represents a 34.07% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.41% of the company's stock.

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.

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