Vontobel Holding Ltd. Sells 1,155,923 Shares of Plug Power Inc. (NASDAQ:PLUG)

Vontobel Holding Ltd. cut its holdings in Plug Power Inc. (NASDAQ:PLUG) by 49.0% in the fourth quarter, Holdings Channel reports. 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.’s holdings in Plug Power were worth $5,406,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC lifted its stake in Plug Power by 183.6% in the fourth quarter. SG Americas Securities LLC now owns 1,656,282 shares of the electronics maker’s stock worth $7,453,000 after acquiring an additional 1,072,344 shares during the period. UniSuper Management Pty Ltd lifted its position in shares of Plug Power by 78.5% during the third quarter. UniSuper Management Pty Ltd now owns 2,064,304 shares of the electronics maker’s stock valued at $15,689,000 after buying an additional 907,604 shares during the last quarter. Gabelli Funds LLC lifted its position in shares of Plug Power by 9.4% during the third quarter. Gabelli Funds LLC now owns 87,500 shares of the electronics maker’s stock valued at $665,000 after buying an additional 7,500 shares during the last quarter. Compagnie Lombard Odier SCmA lifted its position in shares of Plug Power by 21.0% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 36,250 shares of the electronics maker’s stock valued at $163,000 after buying an additional 6,300 shares during the last quarter. Finally, New York Life Investment Management LLC lifted its position in shares of Plug Power by 109.7% during the third quarter. New York Life Investment Management LLC now owns 58,895 shares of the electronics maker’s stock valued at $448,000 after buying an additional 30,807 shares during the last quarter. 43.48% of the stock is owned by hedge funds and other institutional investors.

Plug Power Stock Performance

Shares of PLUG stock opened at $2.73 on Thursday. The stock’s fifty day moving average is $3.49 and its two-hundred day moving average is $4.34. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.86 and a current ratio of 1.85. 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) last announced its quarterly earnings data on Friday, March 1st. The electronics maker reported ($1.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.52). The firm had revenue of $222.20 million during 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 revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.38) EPS. As a group, research analysts forecast that Plug Power Inc. will post -0.95 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Roth Mkm raised shares of Plug Power from a “neutral” rating to a “buy” rating and increased their price target for the company from $4.50 to $9.00 in a research report on Wednesday, January 31st. Canaccord Genuity Group decreased their price objective on shares of Plug Power from $5.00 to $4.00 and set a “hold” rating for the company in a research report on Monday, March 4th. Susquehanna decreased their price objective on shares of 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 lowered shares of 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, Royal Bank of Canada decreased their price objective on shares of Plug Power from $5.00 to $3.50 and set a “sector perform” rating for the company in a research report on Wednesday, January 24th. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $6.05.

About Plug Power

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.