Plug Power, Inc. $PLUG Stock Position Decreased by Hsbc Holdings PLC

Hsbc Holdings PLC trimmed its stake in Plug Power, Inc. (NASDAQ:PLUG) by 40.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 719,989 shares of the electronics maker’s stock after selling 492,512 shares during the quarter. Hsbc Holdings PLC’s holdings in Plug Power were worth $1,418,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its holdings in shares of Plug Power by 116.7% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 13,000 shares of the electronics maker’s stock valued at $26,000 after purchasing an additional 7,000 shares during the last quarter. Sender Co & Partners Inc. purchased a new position in Plug Power in the 2nd quarter worth about $26,000. Procyon Advisors LLC acquired a new stake in Plug Power during the 4th quarter worth about $29,000. Independent Advisor Alliance acquired a new stake in Plug Power during the 4th quarter worth about $30,000. Finally, GAMMA Investing LLC lifted its stake in Plug Power by 174.2% during the fourth quarter. GAMMA Investing LLC now owns 15,527 shares of the electronics maker’s stock valued at $31,000 after buying an additional 9,865 shares in the last quarter. 43.48% of the stock is owned by institutional investors and hedge funds.

Plug Power Stock Up 4.6%

Plug Power stock opened at $2.71 on Wednesday. The firm has a market cap of $3.78 billion, a PE ratio of -2.05 and a beta of 2.12. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.40 and a current ratio of 2.36. The firm’s 50 day moving average price is $3.26 and its two-hundred day moving average price is $2.59. Plug Power, Inc. has a twelve month low of $1.34 and a twelve month high of $4.58.

Plug Power (NASDAQ:PLUG) last released its earnings results on Monday, May 11th. The electronics maker reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01. The company had revenue of $163.51 million during the quarter, compared to the consensus estimate of $139.87 million. Plug Power had a negative net margin of 227.13% and a negative return on equity of 49.30%. The company’s revenue was up 22.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.21) EPS. On average, research analysts predict that Plug Power, Inc. will post -0.25 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Jefferies Financial Group dropped their target price on shares of Plug Power from $2.00 to $1.80 and set a “hold” rating on the stock in a research report on Monday, March 9th. HC Wainwright reiterated a “buy” rating and set a $7.00 price objective on shares of Plug Power in a research report on Tuesday, March 3rd. Wells Fargo & Company boosted their target price on shares of Plug Power from $2.00 to $2.50 and gave the company an “equal weight” rating in a research note on Tuesday, May 19th. BTIG Research restated a “neutral” rating on shares of Plug Power in a report on Tuesday, March 3rd. Finally, Susquehanna raised their target price on Plug Power from $2.75 to $3.75 and gave the stock a “neutral” rating in a research report on Wednesday, May 13th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $3.42.

Plug Power Company Profile

Plug Power Inc is a U.S.-based company specializing in the design and manufacture of hydrogen fuel cell systems that serve as clean energy replacements for conventional batteries in electric vehicles and material handling equipment. Its core solutions include ProGen fuel cell engines, GenDrive power systems for forklifts and warehouse vehicles, and GenFuel hydrogen refueling infrastructure. These offerings are sold as standalone components or integrated turnkey solutions under the GenKey brand, providing customers with on-site refueling, equipment installation and maintenance services.

In addition to its fuel cell and refueling products, Plug Power develops backup power and off-grid energy solutions through its GenSure line, which targets telecommunications, data centers and utility applications.