Westwood Holdings Group Inc. Trims Stock Holdings in Plug Power Inc. (NASDAQ:PLUG)

Westwood Holdings Group Inc. trimmed its position in Plug Power Inc. (NASDAQ:PLUGFree Report) by 96.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,384 shares of the electronics maker’s stock after selling 368,768 shares during the period. Westwood Holdings Group Inc.’s holdings in Plug Power were worth $56,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FAS Wealth Partners Inc. bought a new position in shares of Plug Power during the fourth quarter valued at $45,000. Independent Advisor Alliance bought a new position in shares of Plug Power during the fourth quarter valued at $45,000. First Affirmative Financial Network bought a new position in shares of Plug Power during the fourth quarter valued at $50,000. Griffin Asset Management Inc. bought a new position in shares of Plug Power during the fourth quarter valued at $54,000. Finally, Waldron Private Wealth LLC bought a new position in shares of Plug Power during the fourth quarter valued at $60,000. 43.48% of the stock is owned by hedge funds and other institutional investors.

Plug Power Trading Up 2.4 %

NASDAQ PLUG opened at $2.97 on Tuesday. The stock’s 50-day moving average price is $2.94 and its 200-day moving average price is $3.55. The company has a quick ratio of 0.87, a current ratio of 1.94 and a debt-to-equity ratio of 0.17. Plug Power Inc. has a 52 week low of $2.25 and a 52 week high of $13.44.

Plug Power (NASDAQ:PLUGGet Free Report) last issued its earnings results on Thursday, May 9th. The electronics maker reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.11). The business had revenue of $120.26 million for the quarter, compared to the consensus estimate of $162.92 million. Plug Power had a negative net margin of 181.96% and a negative return on equity of 43.10%. Equities research analysts predict that Plug Power Inc. will post -1.13 EPS for the current year.

Insider Activity at Plug Power

In related news, Director George C. Mcnamee sold 10,000 shares of Plug Power stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $2.56, for a total transaction of $25,600.00. Following the sale, the director now owns 639,572 shares of the company’s stock, valued at approximately $1,637,304.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Canaccord Genuity Group dropped their price objective on Plug Power from $4.00 to $3.00 and set a “hold” rating on the stock in a research report on Monday, May 13th. Evercore ISI dropped their price objective on Plug Power from $9.00 to $6.00 and set an “outperform” rating on the stock in a research report on Monday, March 4th. HC Wainwright reaffirmed a “buy” rating and set a $18.00 price objective on shares of Plug Power in a research report on Tuesday, May 14th. Citigroup cut Plug Power from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $3.25 to $2.00 in a research report on Friday, April 5th. Finally, TD Cowen dropped their price objective on Plug Power from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Plug Power presently has a consensus rating of “Hold” and an average target price of $5.49.

Get Our Latest Stock Report on PLUG

Plug Power Company Profile

(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.

Read More

Want to see what other hedge funds are holding PLUG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Plug Power Inc. (NASDAQ:PLUGFree Report).

Institutional Ownership by Quarter for Plug Power (NASDAQ:PLUG)

Receive News & Ratings for Plug Power Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Plug Power and related companies with MarketBeat.com's FREE daily email newsletter.