Healthcare of Ontario Pension Plan Trust Fund Sells 275,545 Shares of Plug Power Inc. (NASDAQ:PLUG)

Healthcare of Ontario Pension Plan Trust Fund reduced its holdings in Plug Power Inc. (NASDAQ:PLUG) by 18.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,258,652 shares of the electronics maker’s stock after selling 275,545 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned 0.18% of Plug Power worth $5,664,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Plug Power by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 53,987,285 shares of the electronics maker’s stock worth $242,943,000 after acquiring an additional 283,376 shares in the last quarter. Caas Capital Management LP bought a new stake in shares of Plug Power in the fourth quarter worth about $143,000. Symmetry Investments LP increased its holdings in shares of Plug Power by 6.9% in the fourth quarter. Symmetry Investments LP now owns 222,380 shares of the electronics maker’s stock worth $1,001,000 after acquiring an additional 14,400 shares in the last quarter. Neuberger Berman Group LLC increased its holdings in shares of Plug Power by 39.4% in the fourth quarter. Neuberger Berman Group LLC now owns 47,296 shares of the electronics maker’s stock worth $213,000 after acquiring an additional 13,377 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new position in shares of Plug Power during the fourth quarter worth about $5,133,000. 43.48% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on PLUG shares. Susquehanna reduced their price objective on Plug Power from $3.50 to $3.00 and set a “neutral” rating for the company in a research report on Friday, May 10th. Piper Sandler reduced their price objective on Plug Power from $2.90 to $2.50 and set an “underweight” rating for the company in a research report on Friday, May 10th. Craig Hallum reduced their price objective on Plug Power from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Monday, March 4th. Evercore ISI reduced their price objective on Plug Power from $9.00 to $6.00 and set an “outperform” rating for the company in a research report on Monday, March 4th. Finally, Marathon Capitl reissued an “equal weight” rating on shares of Plug Power in a research report on Tuesday, March 26th. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Plug Power presently has a consensus rating of “Hold” and an average price target of $5.49.

Plug Power Stock Performance

NASDAQ:PLUG opened at $2.72 on Tuesday. The stock has a market cap of $2.02 billion, a P/E ratio of -1.13 and a beta of 1.77. The stock has a 50 day simple moving average of $2.90 and a 200 day simple moving average of $3.51. The company has a current ratio of 1.94, a quick ratio of 0.87 and a debt-to-equity ratio of 0.17. Plug Power Inc. has a 1-year low of $2.25 and a 1-year high of $13.44.

Plug Power (NASDAQ:PLUG) last released its quarterly earnings results on Thursday, May 9th. The electronics maker reported ($0.43) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.11). The firm had revenue of $120.26 million for the quarter, compared to analyst estimates of $162.92 million. Plug Power had a negative return on equity of 43.10% and a negative net margin of 181.96%. Research analysts anticipate that Plug Power Inc. will post -1.13 earnings per share for the current year.

Insider Buying and Selling at Plug Power

In other Plug Power news, Director George C. Mcnamee sold 10,000 shares of Plug Power stock in a transaction on Friday, May 10th. The stock was sold at an average price of $2.56, for a total value of $25,600.00. Following the completion of the transaction, the director now directly owns 639,572 shares of the company’s stock, valued at approximately $1,637,304.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.70% of the company’s stock.

Plug Power Company Profile

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.