Vontobel Holding Ltd. increased its holdings in shares of Plug Power Inc. (NASDAQ:PLUG - Free Report) by 44.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,426,354 shares of the electronics maker's stock after acquiring an additional 1,051,400 shares during the quarter. Vontobel Holding Ltd. owned about 0.46% of Plug Power worth $7,744,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of PLUG. Vanguard Group Inc. increased its holdings in shares of Plug Power by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 53,987,285 shares of the electronics maker's stock worth $242,943,000 after purchasing an additional 283,376 shares during the period. HighPoint Advisor Group LLC acquired a new position in Plug Power in the 4th quarter valued at $48,000. Banque Cantonale Vaudoise raised its holdings in Plug Power by 25.7% in the 1st quarter. Banque Cantonale Vaudoise now owns 152,779 shares of the electronics maker's stock valued at $526,000 after acquiring an additional 31,276 shares in the last quarter. Ballentine Partners LLC bought a new stake in shares of Plug Power during the 1st quarter valued at $79,000. Finally, Mosley Wealth Management acquired a new stake in shares of Plug Power during the 1st quarter worth $35,000. Institutional investors and hedge funds own 43.48% of the company's stock.
Plug Power Trading Up 9.8 %
Shares of Plug Power stock traded up $0.20 during trading on Friday, hitting $2.24. The company's stock had a trading volume of 50,019,771 shares, compared to its average volume of 39,210,309. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of -0.95 and a beta of 1.79. Plug Power Inc. has a 52 week low of $1.60 and a 52 week high of $7.11. The stock has a 50-day moving average price of $2.03 and a two-hundred day moving average price of $2.50. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.07 and a quick ratio of 0.91.
Plug Power (NASDAQ:PLUG - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The electronics maker reported ($0.36) EPS for the quarter, missing analysts' consensus estimates of ($0.30) by ($0.06). Plug Power had a negative net margin of 216.80% and a negative return on equity of 47.51%. The company had revenue of $143.40 million during the quarter, compared to the consensus estimate of $184.54 million. During the same quarter last year, the firm posted ($0.35) EPS. The company's quarterly revenue was down 44.9% on a year-over-year basis. Equities research analysts anticipate that Plug Power Inc. will post -1.15 EPS for the current fiscal year.
Analyst Ratings Changes
A number of research analysts recently commented on PLUG shares. Jefferies Financial Group dropped their price target on Plug Power from $2.20 to $2.00 and set a "hold" rating for the company in a research note on Thursday, October 3rd. Royal Bank of Canada dropped their target price on shares of Plug Power from $3.50 to $2.50 and set a "sector perform" rating for the company in a research report on Monday, August 12th. Wells Fargo & Company reduced their price target on shares of Plug Power from $4.00 to $3.00 and set an "equal weight" rating on the stock in a research report on Friday, August 9th. Piper Sandler lowered their price objective on shares of Plug Power from $2.50 to $2.40 and set an "underweight" rating for the company in a research report on Monday, July 22nd. Finally, Craig Hallum cut their target price on Plug Power from $5.00 to $4.00 and set a "buy" rating for the company in a research note on Friday, August 9th. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $5.01.
Read Our Latest Stock Report on PLUG
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.
Featured Articles
Before you consider Plug Power, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Plug Power wasn't on the list.
While Plug Power currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat has just released its list of 20 stocks that Wall Street analysts hate. These companies may appear to have good fundamentals, but top analysts smell something seriously rotten. Are any of these companies lurking around your portfolio? Find out by clicking the link below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
