Plug Power Inc. (NASDAQ:PLUG) Shares Sold by KBC Group NV

KBC Group NV lessened its position in shares of Plug Power Inc. (NASDAQ:PLUG - Free Report) by 30.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 353,388 shares of the electronics maker's stock after selling 151,420 shares during the quarter. KBC Group NV's holdings in Plug Power were worth $753,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its stake in shares of Plug Power by 20.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,109,530 shares of the electronics maker's stock worth $2,588,000 after buying an additional 187,205 shares during the period. Marshall Wace LLP increased its holdings in Plug Power by 80.0% in the 2nd quarter. Marshall Wace LLP now owns 24,492 shares of the electronics maker's stock worth $57,000 after acquiring an additional 10,882 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Plug Power by 144.4% during the second quarter. The Manufacturers Life Insurance Company now owns 382,186 shares of the electronics maker's stock worth $890,000 after acquiring an additional 225,834 shares during the period. Algert Global LLC purchased a new position in Plug Power during the second quarter valued at $152,000. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Plug Power by 25.9% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,945,162 shares of the electronics maker's stock valued at $4,532,000 after purchasing an additional 400,120 shares during the period. Hedge funds and other institutional investors own 43.48% of the company's stock.

Plug Power Trading Down 5.1 %

Plug Power stock traded down $0.10 during trading on Wednesday, hitting $1.85. The company had a trading volume of 52,547,496 shares, compared to its average volume of 76,384,008. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of -0.86 and a beta of 1.79. The company has a current ratio of 2.08, a quick ratio of 0.95 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 $4.90. The company's 50 day simple moving average is $2.35 and its 200-day simple moving average is $2.18.

Plug Power (NASDAQ:PLUG - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $173.70 million during the quarter, compared to analyst estimates of $207.25 million. During the same period in the previous year, the firm posted ($0.47) earnings per share. The company's quarterly revenue was down 12.6% compared to the same quarter last year. As a group, analysts expect that Plug Power Inc. will post -1.21 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. StockNews.com raised shares of Plug Power to a "sell" rating in a research note on Wednesday, January 22nd. Evercore ISI lowered their price target on Plug Power from $5.00 to $4.00 and set an "outperform" rating on the stock in a research note on Wednesday, November 13th. Wells Fargo & Company dropped their price target 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. Craig Hallum decreased their price objective on Plug Power from $4.00 to $3.00 and set a "buy" rating on the stock in a report on Thursday, November 14th. Finally, Canaccord Genuity Group dropped their target price on shares of Plug Power from $2.50 to $2.25 and set a "hold" rating for the company in a report on Wednesday, November 13th. Five investment analysts have rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Plug Power has an average rating of "Hold" and an average target price of $4.18.

Plug Power 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.