Plug Power Inc. (NASDAQ:PLUG) Shares Sold by Bouvel Investment Partners LLC

Bouvel Investment Partners LLC trimmed its stake in shares of Plug Power Inc. (NASDAQ:PLUG - Free Report) by 96.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,000 shares of the electronics maker's stock after selling 363,634 shares during the period. Bouvel Investment Partners LLC's holdings in Plug Power were worth $32,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PLUG. Profund Advisors LLC acquired a new stake in Plug Power in the 2nd quarter valued at about $29,000. Prio Wealth Limited Partnership purchased a new stake in shares of Plug Power in the third quarter valued at about $29,000. Catalyst Capital Advisors LLC grew its position in shares of Plug Power by 79.9% in the third quarter. Catalyst Capital Advisors LLC now owns 12,681 shares of the electronics maker's stock valued at $29,000 after purchasing an additional 5,631 shares during the last quarter. First Commonwealth Financial Corp PA acquired a new position in shares of Plug Power during the 3rd quarter worth approximately $29,000. Finally, Millburn Ridgefield Corp lifted its stake in Plug Power by 79.9% in the 3rd quarter. Millburn Ridgefield Corp now owns 12,681 shares of the electronics maker's stock valued at $29,000 after buying an additional 5,631 shares in the last quarter. Hedge funds and other institutional investors own 43.48% of the company's stock.

Plug Power Trading Down 10.9 %

Shares of NASDAQ PLUG traded down $0.30 during midday trading on Friday, hitting $2.44. The stock had a trading volume of 95,612,151 shares, compared to its average volume of 83,887,289. The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15. Plug Power Inc. has a 1-year low of $1.60 and a 1-year high of $5.14. The company has a market capitalization of $2.22 billion, a price-to-earnings ratio of -1.14 and a beta of 1.79. The company has a fifty day moving average price of $2.33 and a 200 day moving average price of $2.25.

Plug Power (NASDAQ:PLUG - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.01). Plug Power had a negative net margin of 214.05% and a negative return on equity of 46.99%. The business had revenue of $173.70 million for the quarter, compared to analyst estimates of $207.25 million. During the same period last year, the firm earned ($0.47) earnings per share. The company's quarterly revenue was down 12.6% on a year-over-year basis. On average, analysts predict that Plug Power Inc. will post -1.2 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have weighed in on PLUG. HC Wainwright reissued a "buy" rating and set a $18.00 price target on shares of Plug Power in a research report on Wednesday, November 13th. Wells Fargo & Company dropped their price objective on Plug Power from $3.00 to $2.00 and set an "equal weight" rating for the company in a research report on Thursday, November 14th. Evercore ISI reduced their target price on shares of Plug Power from $5.00 to $4.00 and set an "outperform" rating on the stock in a report on Wednesday, November 13th. Jefferies Financial Group decreased their price target on shares of Plug Power from $2.20 to $2.00 and set a "hold" rating on the stock in a research note on Thursday, October 3rd. Finally, Canaccord Genuity Group reduced their price objective on shares of Plug Power from $2.50 to $2.25 and set a "hold" rating on the stock in a research note on Wednesday, November 13th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Plug Power currently has a consensus rating of "Hold" and an average price target of $4.55.

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.