Plug Power, Inc. (PLUG) Stake Decreased by Credit Suisse AG

Credit Suisse AG lessened its holdings in shares of Plug Power, Inc. (NASDAQ:PLUG) by 25.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 127,253 shares of the electronics maker’s stock after selling 43,862 shares during the period. Credit Suisse AG owned 0.07% of Plug Power worth $176,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Private Advisor Group LLC raised its holdings in Plug Power by 160.9% during the first quarter. Private Advisor Group LLC now owns 51,318 shares of the electronics maker’s stock worth $115,000 after purchasing an additional 31,646 shares in the last quarter. American International Group Inc. raised its holdings in Plug Power by 7.5% during the first quarter. American International Group Inc. now owns 111,649 shares of the electronics maker’s stock worth $154,000 after purchasing an additional 7,773 shares in the last quarter. Karp Capital Management Corp bought a new stake in Plug Power during the first quarter worth approximately $154,000. Nationwide Fund Advisors raised its holdings in Plug Power by 4.6% during the first quarter. Nationwide Fund Advisors now owns 117,225 shares of the electronics maker’s stock worth $162,000 after purchasing an additional 5,127 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its holdings in Plug Power by 34.4% during the first quarter. Asset Management One Co. Ltd. now owns 286,299 shares of the electronics maker’s stock worth $395,000 after purchasing an additional 73,274 shares in the last quarter. 23.79% of the stock is currently owned by institutional investors.

Plug Power, Inc. (PLUG) traded down 1.84% on Friday, reaching $2.13. 1,602,785 shares of the company’s stock traded hands. Plug Power, Inc. has a 52-week low of $0.83 and a 52-week high of $2.70. The firm’s 50 day moving average price is $2.19 and its 200 day moving average price is $1.92. The firm’s market capitalization is $478.67 million.

Plug Power (NASDAQ:PLUG) last announced its quarterly earnings data on Tuesday, August 8th. The electronics maker reported ($0.10) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by $0.03. Plug Power had a negative net margin of 112.95% and a negative return on equity of 86.35%. The business had revenue of $22.60 million during the quarter, compared to analyst estimates of $28.58 million. During the same quarter in the prior year, the company earned ($0.04) earnings per share. The company’s quarterly revenue was up 10.5% on a year-over-year basis. On average, analysts predict that Plug Power, Inc. will post ($0.32) EPS for the current fiscal year.

Several equities research analysts recently commented on the company. Roth Capital reissued a “sell” rating and set a $1.30 target price on shares of Plug Power in a report on Sunday, July 23rd. BidaskClub raised Plug Power from a “sell” rating to a “hold” rating in a report on Tuesday, July 25th. FBR & Co reissued an “outperform” rating and set a $3.50 target price (up previously from $3.00) on shares of Plug Power in a report on Tuesday, July 25th. HC Wainwright reissued a “buy” rating and set a $4.00 target price on shares of Plug Power in a report on Monday, July 24th. Finally, Rodman & Renshaw reissued a “buy” rating and set a $4.00 target price on shares of Plug Power in a report on Monday, July 24th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $2.83.

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Plug Power Profile

Plug Power Inc is a provider of alternative energy technology focused on the design, development, commercialization and manufacture of hydrogen fuel cell systems used for the industrial off-road market and the stationary power market. The Company’s product line includes GenKey, GenDrive, GenFuel, GenCare and ReliOn.

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

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