DekaBank Deutsche Girozentrale Has $323,000 Stock Position in Plug Power Inc. (NASDAQ:PLUG)

DekaBank Deutsche Girozentrale cut its holdings in shares of Plug Power Inc. (NASDAQ:PLUG) by 23.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 69,000 shares of the electronics maker’s stock after selling 21,500 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Plug Power were worth $323,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PLUG. US Bancorp DE increased its holdings in shares of Plug Power by 7.9% during the first quarter. US Bancorp DE now owns 11,362 shares of the electronics maker’s stock worth $324,000 after purchasing an additional 833 shares during the period. MetLife Investment Management LLC bought a new position in shares of Plug Power during the first quarter worth approximately $947,000. Dimensional Fund Advisors LP increased its holdings in shares of Plug Power by 34.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,250,478 shares of the electronics maker’s stock worth $35,771,000 after purchasing an additional 320,262 shares during the period. Blair William & Co. IL increased its holdings in shares of Plug Power by 12.6% during the first quarter. Blair William & Co. IL now owns 8,328 shares of the electronics maker’s stock worth $238,000 after purchasing an additional 934 shares during the period. Finally, Prudential PLC bought a new position in shares of Plug Power during the first quarter worth approximately $248,000. 43.48% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on PLUG shares. Evercore ISI decreased their price objective on shares of Plug Power from $9.00 to $6.00 and set an “outperform” rating on the stock in a research note on Monday, March 4th. 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 on the stock in a research note on Wednesday, January 24th. Craig Hallum decreased their price objective on shares of Plug Power from $6.00 to $5.00 and set a “buy” 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 decreased their price objective for the company from $3.25 to $2.00 in a research note on Friday, April 5th. Finally, Susquehanna decreased their price objective on shares of Plug Power from $4.50 to $3.50 and set a “neutral” rating on the stock in a research note on Wednesday, January 24th. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $6.05.

Plug Power Price Performance

Shares of NASDAQ:PLUG opened at $2.70 on Wednesday. The firm has a market cap of $1.85 billion, a PE ratio of -1.18 and a beta of 1.54. The firm’s fifty day moving average is $3.52 and its 200-day moving average is $4.35. 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 52 week low of $2.26 and a 52 week high of $13.44.

Plug Power (NASDAQ:PLUG) last issued its quarterly earnings results on Friday, March 1st. The electronics maker reported ($1.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.52). The business had revenue of $222.20 million for the quarter, compared to analyst estimates of $234.21 million. Plug Power had a negative return on equity of 38.09% and a negative net margin of 153.57%. Plug Power’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.38) EPS. Sell-side analysts predict that Plug Power Inc. will post -0.95 earnings per share for the current year.

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.