Vontobel Holding Ltd. trimmed its stake in Plug Power Inc. (NASDAQ:PLUG - Free Report) by 49.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,201,282 shares of the electronics maker's stock after selling 1,155,923 shares during the quarter. Vontobel Holding Ltd. owned approximately 0.20% of Plug Power worth $5,406,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the stock. Cerity Partners LLC acquired a new stake in shares of Plug Power in the fourth quarter worth $755,000. HC Advisors LLC boosted its position in shares of Plug Power by 1.6% in the fourth quarter. HC Advisors LLC now owns 310,200 shares of the electronics maker's stock worth $1,396,000 after buying an additional 5,000 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Plug Power by 11.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,763,234 shares of the electronics maker's stock worth $12,435,000 after buying an additional 276,626 shares during the period. Stratos Wealth Partners LTD. boosted its position in shares of Plug Power by 17.6% in the fourth quarter. Stratos Wealth Partners LTD. now owns 25,635 shares of the electronics maker's stock worth $115,000 after buying an additional 3,832 shares during the period. Finally, Prime Capital Investment Advisors LLC boosted its position in shares of Plug Power by 19.4% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 21,888 shares of the electronics maker's stock worth $98,000 after buying an additional 3,556 shares during the period. 43.48% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several analysts have recently commented on PLUG shares. Craig Hallum decreased their target price on Plug Power from $6.00 to $5.00 and set a "buy" rating for the company in a research report on Monday, March 4th. Seaport Res Ptn cut Plug Power from a "buy" rating to a "neutral" rating in a research report on Tuesday, February 6th. Susquehanna reduced their price objective on Plug Power from $4.50 to $3.50 and set a "neutral" rating for the company in a research report on Wednesday, January 24th. UBS Group cut Plug Power from a "buy" rating to a "neutral" rating and set a $4.75 price objective for the company. in a research report on Tuesday, February 6th. Finally, Marathon Capitl reissued an "equal weight" rating on shares of Plug Power in a research report on Tuesday, March 26th. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $6.05.
Check Out Our Latest Analysis on Plug Power
Plug Power Stock Performance
Plug Power stock traded down $0.02 during trading hours on Thursday, hitting $2.71. The stock had a trading volume of 25,369,640 shares, compared to its average volume of 41,141,617. The company has a 50-day moving average of $3.46 and a two-hundred day moving average of $4.32. The company has a quick ratio of 0.86, a current ratio of 1.85 and a debt-to-equity ratio of 0.18. The company has a market cap of $1.85 billion, a PE ratio of -1.18 and a beta of 1.54. Plug Power Inc. has a fifty-two week low of $2.26 and a fifty-two week high of $13.44.
Plug Power (NASDAQ:PLUG - Get Free Report) last posted its quarterly earnings results on Friday, March 1st. The electronics maker reported ($1.08) EPS for the quarter, missing the consensus estimate of ($0.56) by ($0.52). Plug Power had a negative net margin of 153.57% and a negative return on equity of 38.09%. The firm had revenue of $222.20 million during the quarter, compared to analyst estimates of $234.21 million. During the same period last year, the company earned ($0.38) EPS. The company's revenue was up .7% on a year-over-year basis. On average, equities research analysts anticipate that Plug Power Inc. will post -0.95 EPS for the current fiscal year.
About Plug Power
(
Free Report)
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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