Mirae Asset Global Investments Co. Ltd. Reduces Stock Position in Plug Power Inc. (NASDAQ:PLUG)

Mirae Asset Global Investments Co. Ltd. lessened its holdings in Plug Power Inc. (NASDAQ:PLUG) by 4.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 222,875 shares of the electronics maker’s stock after selling 11,044 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Plug Power were worth $475,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Pacific Sage Partners LLC acquired a new position in Plug Power in the fourth quarter valued at $25,000. Prio Wealth Limited Partnership acquired a new position in Plug Power in the third quarter valued at $29,000. Catalyst Capital Advisors LLC boosted its stake in Plug Power by 79.9% in the third quarter. Catalyst Capital Advisors LLC now owns 12,681 shares of the electronics maker’s stock valued at $29,000 after acquiring an additional 5,631 shares in the last quarter. First Commonwealth Financial Corp PA acquired a new position in Plug Power in the third quarter valued at $29,000. Finally, Millburn Ridgefield Corp boosted its stake in Plug Power by 79.9% in the third quarter. Millburn Ridgefield Corp now owns 12,681 shares of the electronics maker’s stock valued at $29,000 after acquiring an additional 5,631 shares in the last quarter. Institutional investors and hedge funds own 43.48% of the company’s stock.

Plug Power Trading Up 1.9 %

NASDAQ PLUG opened at $1.65 on Thursday. The stock has a market capitalization of $1.50 billion, a P/E ratio of -0.77 and a beta of 1.79. Plug Power Inc. has a 52-week low of $1.57 and a 52-week high of $4.90. The firm has a 50-day moving average price of $2.30 and a 200 day moving average price of $2.15. 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 (NASDAQ:PLUG) last issued its earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). Plug Power had a negative net margin of 214.05% and a negative return on equity of 46.99%. The company had revenue of $173.70 million during the quarter, compared to analysts’ expectations of $207.25 million. During the same period last year, the business posted ($0.47) earnings per share. The company’s quarterly revenue was down 12.6% on a year-over-year basis. Equities research analysts expect that Plug Power Inc. will post -1.21 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on PLUG shares. HC Wainwright restated a “buy” rating and issued a $18.00 price objective on shares of Plug Power in a research note on Wednesday, November 13th. StockNews.com upgraded shares of Plug Power to a “sell” rating in a research note on Monday. Canaccord Genuity Group decreased their target price on shares of Plug Power from $2.50 to $2.25 and set a “hold” rating for the company in a research note on Wednesday, November 13th. BTIG Research downgraded shares of Plug Power from a “buy” rating to a “neutral” rating in a research note on Thursday, November 14th. Finally, Evercore ISI decreased their target price on shares of Plug Power from $5.00 to $4.00 and set an “outperform” rating for the company in a research note on Wednesday, November 13th. Five analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target 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.