Plug Power, Inc. $PLUG Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank decreased its position in shares of Plug Power, Inc. (NASDAQ:PLUG) by 19.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,715,056 shares of the electronics maker’s stock after selling 411,333 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Plug Power were worth $3,379,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Profund Advisors LLC lifted its stake in Plug Power by 24.4% during the 3rd quarter. Profund Advisors LLC now owns 20,188 shares of the electronics maker’s stock worth $47,000 after acquiring an additional 3,961 shares in the last quarter. SlateStone Wealth LLC lifted its stake in Plug Power by 16.0% during the 3rd quarter. SlateStone Wealth LLC now owns 29,077 shares of the electronics maker’s stock worth $68,000 after acquiring an additional 4,000 shares in the last quarter. Signature Estate & Investment Advisors LLC increased its stake in Plug Power by 33.4% during the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 18,414 shares of the electronics maker’s stock worth $43,000 after buying an additional 4,615 shares during the period. Mackenzie Financial Corp increased its stake in Plug Power by 10.6% during the 3rd quarter. Mackenzie Financial Corp now owns 58,098 shares of the electronics maker’s stock worth $135,000 after buying an additional 5,584 shares during the period. Finally, Rathbones Group PLC increased its stake in Plug Power by 23.7% during the 4th quarter. Rathbones Group PLC now owns 30,536 shares of the electronics maker’s stock worth $60,000 after buying an additional 5,850 shares during the period. Institutional investors and hedge funds own 43.48% of the company’s stock.

Plug Power Stock Down 1.3%

Shares of Plug Power stock opened at $3.14 on Friday. Plug Power, Inc. has a 52-week low of $0.69 and a 52-week high of $4.58. The company has a 50 day moving average of $2.37 and a 200 day moving average of $2.40. The company has a quick ratio of 1.46, a current ratio of 2.31 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $4.38 billion, a P/E ratio of -2.33 and a beta of 1.79.

Plug Power (NASDAQ:PLUG) last issued its quarterly earnings results on Monday, March 2nd. The electronics maker reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.04. Plug Power had a negative net margin of 229.83% and a negative return on equity of 45.97%. The company had revenue of $225.22 million during the quarter, compared to the consensus estimate of $217.38 million. During the same quarter in the previous year, the firm earned ($1.48) earnings per share. As a group, research analysts forecast that Plug Power, Inc. will post -0.32 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PLUG shares. BMO Capital Markets reaffirmed an “underperform” rating and set a $1.00 target price on shares of Plug Power in a research note on Tuesday, March 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Plug Power in a research note on Tuesday. Susquehanna upped their target price on shares of Plug Power from $2.50 to $2.75 and gave the stock a “neutral” rating in a research note on Thursday, April 9th. Oppenheimer reaffirmed a “market perform” rating on shares of Plug Power in a research note on Tuesday, March 3rd. Finally, Jefferies Financial Group lowered their target price on Plug Power from $2.00 to $1.80 and set a “hold” rating for the company in a research note on Monday, March 9th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, seven have given a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $3.03.

Plug Power 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.