Vontobel Holding Ltd. Reduces Stake in Plug Power Inc. (NASDAQ:PLUG)

Vontobel Holding Ltd. trimmed its stake in Plug Power Inc. (NASDAQ:PLUG) by 49.0% during the fourth quarter, according to the company in its most recent Form 13F 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 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Cerity Partners LLC purchased a new stake in shares of Plug Power during the 4th quarter valued at approximately $755,000. HC Advisors LLC lifted its stake in shares of Plug Power by 1.6% during the 4th quarter. HC Advisors LLC now owns 310,200 shares of the electronics maker’s stock valued at $1,396,000 after buying an additional 5,000 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Plug Power by 11.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,763,234 shares of the electronics maker’s stock valued at $12,435,000 after buying an additional 276,626 shares in the last quarter. Stratos Wealth Partners LTD. lifted its stake in shares of Plug Power by 17.6% during the 4th quarter. Stratos Wealth Partners LTD. now owns 25,635 shares of the electronics maker’s stock valued at $115,000 after buying an additional 3,832 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC lifted its stake in shares of Plug Power by 19.4% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 21,888 shares of the electronics maker’s stock valued at $98,000 after buying an additional 3,556 shares in the last quarter. 43.48% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on PLUG. UBS Group cut shares of Plug Power from a “buy” rating to a “neutral” rating and set a $4.75 price target on the stock. in a research note on Tuesday, February 6th. Canaccord Genuity Group lowered their target price on shares of Plug Power from $5.00 to $4.00 and set a “hold” rating on the stock in a research note on Monday, March 4th. Citigroup cut shares of Plug Power from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $3.25 to $2.00 in a research note on Friday, April 5th. Royal Bank of Canada lowered their target price on shares of Plug Power from $5.00 to $3.50 and set a “sector perform” rating on the stock in a research note on Wednesday, January 24th. Finally, Redburn Atlantic assumed coverage on shares of Plug Power in a research note on Tuesday, February 6th. They issued a “neutral” rating and a $4.50 target price on the stock. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Plug Power has an average rating of “Hold” and an average price target of $6.05.

Plug Power Trading Up 1.1 %

Shares of PLUG opened at $2.73 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.85 and a quick ratio of 0.86. The firm has a fifty day simple moving average of $3.49 and a two-hundred day simple moving average of $4.34. Plug Power Inc. has a twelve month low of $2.26 and a twelve month high of $13.44.

Plug Power (NASDAQ:PLUG) last announced its quarterly earnings results on Friday, March 1st. The electronics maker reported ($1.08) earnings per share for the quarter, missing the consensus estimate of ($0.56) by ($0.52). The firm had revenue of $222.20 million for the quarter, compared to analysts’ expectations of $234.21 million. Plug Power had a negative net margin of 153.57% and a negative return on equity of 38.09%. The company’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the previous year, the company earned ($0.38) EPS. As a group, equities analysts predict that Plug Power Inc. will post -0.95 earnings per share for the current fiscal year.

Plug Power Company Profile

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.