Vontobel Holding Ltd. Has $6 Million Position in Plug Power Inc. (NASDAQ:PLUG)

Vontobel Holding Ltd. cut its stake in shares of Plug Power Inc. (NASDAQ:PLUG) by 17.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,817,746 shares of the electronics maker’s stock after selling 608,608 shares during the quarter. Vontobel Holding Ltd. owned 0.31% of Plug Power worth $6,002,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Nations Financial Group Inc. IA ADV grew its holdings in shares of Plug Power by 42.3% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 15,798 shares of the electronics maker’s stock valued at $36,000 after purchasing an additional 4,700 shares during the last quarter. Arkadios Wealth Advisors grew its holdings in shares of Plug Power by 18.2% during the 3rd quarter. Arkadios Wealth Advisors now owns 33,020 shares of the electronics maker’s stock valued at $75,000 after purchasing an additional 5,075 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Plug Power by 0.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 803,881 shares of the electronics maker’s stock valued at $1,817,000 after purchasing an additional 5,485 shares during the last quarter. Catalyst Capital Advisors LLC grew its holdings in shares of Plug Power by 79.9% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 12,681 shares of the electronics maker’s stock valued at $29,000 after purchasing an additional 5,631 shares during the last quarter. Finally, Millburn Ridgefield Corp grew its holdings in shares of Plug Power by 79.9% during the 3rd quarter. Millburn Ridgefield Corp now owns 12,681 shares of the electronics maker’s stock valued at $29,000 after purchasing an additional 5,631 shares during the last quarter. 43.48% of the stock is owned by institutional investors.

Plug Power Price Performance

Plug Power stock opened at $1.76 on Friday. The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15. Plug Power Inc. has a 12-month low of $1.57 and a 12-month high of $4.90. The firm’s fifty day moving average is $2.28 and its 200 day moving average is $2.15. The company has a market capitalization of $1.60 billion, a PE ratio of -0.82 and a beta of 1.79.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Seaport Res Ptn lowered shares of Plug Power from a “hold” rating to a “strong sell” rating in a report on Monday, January 27th. Piper Sandler reduced their target price on shares of Plug Power from $1.60 to $1.40 and set an “underweight” rating on the stock in a report on Thursday, November 14th. Wells Fargo & Company reduced their target price on shares of Plug Power from $3.00 to $2.00 and set an “equal weight” rating on the stock in a report on Thursday, November 14th. StockNews.com raised shares of Plug Power to a “sell” rating in a report on Monday, February 10th. Finally, BTIG Research lowered shares of Plug Power from a “buy” rating to a “neutral” rating in a report on Thursday, November 14th. Five equities research analysts have rated the stock with a sell rating, eight have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Plug Power presently has a consensus rating of “Hold” and a consensus target price of $4.12.

About Plug Power

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.