Leonteq Securities AG Decreases Holdings in Plug Power, Inc. $PLUG

Leonteq Securities AG trimmed its position in shares of Plug Power, Inc. (NASDAQ:PLUG) by 52.5% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 176,912 shares of the electronics maker’s stock after selling 195,584 shares during the quarter. Leonteq Securities AG’s holdings in Plug Power were worth $400,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. GPM Growth Investors Inc. purchased a new stake in Plug Power during the first quarter valued at $45,000. Pictet Asset Management Holding SA lifted its holdings in Plug Power by 13.2% in the first quarter. Pictet Asset Management Holding SA now owns 192,387 shares of the electronics maker’s stock valued at $435,000 after acquiring an additional 22,422 shares during the period. Ground Swell Capital LLC purchased a new position in Plug Power in the first quarter worth about $95,000. Banque Cantonale Vaudoise boosted its position in Plug Power by 14.9% in the first quarter. Banque Cantonale Vaudoise now owns 63,044 shares of the electronics maker’s stock worth $142,000 after purchasing an additional 8,162 shares during the last quarter. Finally, Miller Howard Investments Inc. NY bought a new stake in shares of Plug Power during the 1st quarter valued at about $60,000. Institutional investors own 43.48% of the company’s stock.

Plug Power Price Performance

NASDAQ PLUG opened at $2.64 on Monday. Plug Power, Inc. has a 52 week low of $1.35 and a 52 week high of $4.58. The company has a quick ratio of 1.40, a current ratio of 2.36 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $3.68 billion, a P/E ratio of -2.00 and a beta of 2.16. The stock’s 50-day moving average price is $3.23 and its 200-day moving average price is $2.60.

Plug Power (NASDAQ:PLUG) last announced its quarterly earnings data on Monday, May 11th. The electronics maker reported ($0.08) earnings per share (EPS) 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 return on equity of 49.30% and a negative net margin of 227.13%.The firm’s revenue was up 22.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.21) EPS. On average, equities research analysts predict that Plug Power, Inc. will post -0.25 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PLUG. Weiss Ratings cut shares of Plug Power from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, June 25th. B. Riley Financial upped their target price on shares of Plug Power from $3.00 to $5.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Jefferies Financial Group decreased their price target 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. Canaccord Genuity Group lifted their price target on shares of Plug Power from $2.50 to $4.00 and gave the stock a “hold” rating in a research note on Tuesday, May 12th. Finally, Susquehanna boosted their price objective on shares of Plug Power from $2.75 to $3.75 and gave the company a “neutral” rating in a research report on Wednesday, May 13th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, Plug Power presently has an average rating of “Hold” and an average price target of $3.42.

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.