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

Hsbc Holdings PLC trimmed its position in shares of Plug Power, Inc. (NASDAQ:PLUG) by 40.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 719,989 shares of the electronics maker’s stock after selling 492,512 shares during the period. Hsbc Holdings PLC owned 0.05% of Plug Power worth $1,418,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Plug Power by 18.2% during the fourth quarter. Vanguard Group Inc. now owns 129,599,295 shares of the electronics maker’s stock worth $255,311,000 after buying an additional 19,967,339 shares during the period. Renaissance Technologies LLC acquired a new stake in Plug Power in the 4th quarter valued at approximately $27,684,000. Two Sigma Investments LP raised its stake in Plug Power by 292.1% during the 3rd quarter. Two Sigma Investments LP now owns 10,830,893 shares of the electronics maker’s stock valued at $25,236,000 after acquiring an additional 8,068,713 shares in the last quarter. Graham Capital Management L.P. raised its stake in Plug Power by 110.7% during the 4th quarter. Graham Capital Management L.P. now owns 737,112 shares of the electronics maker’s stock valued at $1,452,000 after acquiring an additional 7,640,212 shares in the last quarter. Finally, State Street Corp boosted its position in Plug Power by 29.9% during the 4th quarter. State Street Corp now owns 32,258,283 shares of the electronics maker’s stock worth $63,549,000 after acquiring an additional 7,416,943 shares during the period. Institutional investors and hedge funds own 43.48% of the company’s stock.

Plug Power Price Performance

Shares of Plug Power stock opened at $2.71 on Wednesday. The company has a current ratio of 2.36, a quick ratio of 1.40 and a debt-to-equity ratio of 0.89. The company’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 52 week low of $1.34 and a 52 week high of $4.58. The stock has a market cap of $3.78 billion, a PE ratio of -2.05 and a beta of 2.12.

Plug Power (NASDAQ:PLUG) last issued its quarterly earnings results on Monday, May 11th. The electronics maker reported ($0.08) earnings per share for the quarter, beating 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%. Plug Power’s revenue was up 22.3% on a year-over-year basis. During the same period in the prior year, the company earned ($0.21) EPS. As a group, sell-side analysts anticipate that Plug Power, Inc. will post -0.25 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PLUG. Susquehanna raised their price target on Plug Power from $2.75 to $3.75 and gave the company a “neutral” rating in a report on Wednesday, May 13th. BMO Capital Markets increased their target price on shares of Plug Power from $1.00 to $1.20 and gave the company an “underperform” rating in a research report on Tuesday, May 12th. Weiss Ratings downgraded shares of Plug Power from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 25th. Wells Fargo & Company upped their price target on shares of Plug Power from $2.00 to $2.50 and gave the stock an “equal weight” rating in a research note on Tuesday, May 19th. Finally, Wall Street Zen upgraded shares of Plug Power from a “sell” rating to a “hold” rating in a report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have issued a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Plug Power has an average rating of “Hold” and a consensus target price 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.