Vontobel Holding Ltd. Has $7.23 Million Stock Position in Plug Power, Inc. $PLUG

Key Points

• Vontobel Holding Ltd. cut its stake in Plug Power by 20% in Q3, selling 774,456 shares and ending the quarter with 3,103,933 shares worth $7.23 million (0.27% of the company).
• Plug Power shares opened at $2.09 (12‑month range $0.69–$4.58) with a $2.90B market cap; the company reported Q EPS of -$0.12 (beating -$0.13) but missed revenue and has a deeply negative net margin (313.69%) and negative ROE.
• Insider Jose Luis Crespo bought 37,300 shares at $2.34 while Benjamin Haycraft sold 40,000 at $2.20, and analysts hold a consensus "Hold" rating with an average price target of $2.80.

Vontobel Holding Ltd. reduced its stake in Plug Power, Inc. (NASDAQ:PLUG - Free Report) by 20.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,103,933 shares of the electronics maker's stock after selling 774,456 shares during the period. Vontobel Holding Ltd. owned 0.27% of Plug Power worth $7,232,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sender Co & Partners Inc. acquired a new position in Plug Power in the second quarter valued at about $26,000. Yousif Capital Management LLC bought a new stake in shares of Plug Power in the 3rd quarter valued at about $27,000. O ROURKE & COMPANY Inc bought a new stake in shares of Plug Power in the 2nd quarter valued at about $30,000. Abel Hall LLC bought a new position in Plug Power during the 2nd quarter worth approximately $30,000. Finally, Obermeyer Wealth Partners boosted its stake in Plug Power by 100.0% during the 2nd quarter. Obermeyer Wealth Partners now owns 20,000 shares of the electronics maker's stock worth $30,000 after acquiring an additional 10,000 shares during the last quarter. Institutional investors own 43.48% of the company's stock.

Plug Power Trading Up 1.7%

Shares of NASDAQ:PLUG opened at $2.09 on Friday. Plug Power, Inc. has a 12 month low of $0.69 and a 12 month high of $4.58. The company has a quick ratio of 0.70, a current ratio of 1.32 and a debt-to-equity ratio of 0.24. The company's fifty day simple moving average is $2.39 and its 200 day simple moving average is $2.04. The firm has a market cap of $2.90 billion, a price-to-earnings ratio of -0.88 and a beta of 1.74.

Plug Power (NASDAQ:PLUG - Get Free Report) last announced its earnings results on Monday, November 10th. The electronics maker reported ($0.12) earnings per share for the quarter, topping analysts' consensus estimates of ($0.13) by $0.01. The firm had revenue of $177.06 million during the quarter, compared to analyst estimates of $185.41 million. Plug Power had a negative net margin of 313.69% and a negative return on equity of 105.98%. As a group, research analysts forecast that Plug Power, Inc. will post -1.21 EPS for the current fiscal year.

Insider Transactions at Plug Power

In other news, insider Jose Luis Crespo acquired 37,300 shares of the firm's stock in a transaction that occurred on Monday, December 15th. The stock was acquired at an average cost of $2.34 per share, for a total transaction of $87,282.00. Following the completion of the acquisition, the insider owned 307,332 shares in the company, valued at $719,156.88. This represents a 13.81% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Benjamin Haycraft sold 40,000 shares of the business's stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $2.20, for a total value of $88,000.00. Following the completion of the sale, the insider owned 373,809 shares in the company, valued at $822,379.80. The trade was a 9.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 60,000 shares of company stock valued at $155,200. 0.56% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PLUG has been the subject of several recent analyst reports. Hsbc Global Res raised shares of Plug Power to a "strong-buy" rating in a research note on Thursday, October 9th. HC Wainwright reissued a "buy" rating and issued a $7.00 price target on shares of Plug Power in a report on Monday, November 24th. Weiss Ratings restated a "sell (d-)" rating on shares of Plug Power in a research report on Wednesday, October 8th. Canaccord Genuity Group set a $7.00 price objective on Plug Power in a research note on Monday, November 24th. Finally, Wall Street Zen lowered Plug Power from a "hold" rating to a "sell" rating in a report on Sunday, November 16th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, six have given a Hold rating and six have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Plug Power presently has a consensus rating of "Hold" and an average price target of $2.80.

Plug Power Company Profile

Plug Power Inc is a U.S.-based company specializing in the design and manufacture of hydrogen fuel cell systems that serve as clean energy replacements for conventional batteries in electric vehicles and material handling equipment. Its core solutions include ProGen fuel cell engines, GenDrive power systems for forklifts and warehouse vehicles, and GenFuel hydrogen refueling infrastructure. These offerings are sold as standalone components or integrated turnkey solutions under the GenKey brand, providing customers with on-site refueling, equipment installation and maintenance services.

In addition to its fuel cell and refueling products, Plug Power develops backup power and off-grid energy solutions through its GenSure line, which targets telecommunications, data centers and utility applications.

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