Plug Power Inc. (NASDAQ:PLUG) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in Plug Power Inc. (NASDAQ:PLUG) by 8.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 607,231 shares of the electronics maker’s stock after selling 54,414 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.10% of Plug Power worth $2,733,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Millburn Ridgefield Corp purchased a new position in shares of Plug Power in the 3rd quarter valued at about $29,000. FAS Wealth Partners Inc. purchased a new position in shares of Plug Power in the 4th quarter valued at about $45,000. Exchange Traded Concepts LLC increased its holdings in shares of Plug Power by 30.3% in the 3rd quarter. Exchange Traded Concepts LLC now owns 6,486 shares of the electronics maker’s stock valued at $49,000 after acquiring an additional 1,510 shares during the last quarter. First Affirmative Financial Network purchased a new position in shares of Plug Power in the 4th quarter valued at about $50,000. Finally, Griffin Asset Management Inc. purchased a new position in shares of Plug Power in the 4th quarter valued at about $54,000. Hedge funds and other institutional investors own 43.48% of the company’s stock.

Plug Power Price Performance

Plug Power stock opened at $2.49 on Tuesday. 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 1-year low of $2.26 and a 1-year high of $13.44. The stock’s 50 day moving average price is $3.38 and its 200 day moving average price is $4.24.

Plug Power (NASDAQ:PLUG) last posted its quarterly earnings results 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). Plug Power had a negative net margin of 153.57% and a negative return on equity of 38.09%. The business had revenue of $222.20 million during the quarter, compared to analysts’ expectations of $234.21 million. During the same quarter last year, the firm earned ($0.38) earnings per share. The firm’s quarterly revenue was up .7% compared to the same quarter last year. Equities analysts anticipate that Plug Power Inc. will post -0.94 EPS for the current year.

Analysts Set New Price Targets

PLUG has been the topic of a number of recent analyst reports. BMO Capital Markets downgraded Plug Power from a “market perform” rating to an “underperform” rating and dropped their price objective for the company from $3.50 to $2.50 in a report on Wednesday, January 24th. Canaccord Genuity Group cut their price target on Plug Power from $5.00 to $4.00 and set a “hold” rating on the stock in a research report on Monday, March 4th. Marathon Capitl reaffirmed an “equal weight” rating on shares of Plug Power in a research report on Tuesday, March 26th. Roth Capital raised Plug Power from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 31st. Finally, HSBC cut their price target on Plug Power from $9.00 to $8.50 and set a “buy” rating on the stock in a research report on Tuesday, March 5th. 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. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $6.05.

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.