Plug Power Inc. (NASDAQ:PLUG) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC decreased its position in Plug Power Inc. (NASDAQ:PLUG - Free Report) by 14.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,242,333 shares of the electronics maker's stock after selling 202,350 shares during the quarter. SG Americas Securities LLC owned 0.14% of Plug Power worth $2,646,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. American Century Companies Inc. increased its stake in Plug Power by 16.2% during the 2nd quarter. American Century Companies Inc. now owns 572,938 shares of the electronics maker's stock worth $1,335,000 after buying an additional 79,802 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Plug Power by 20.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,109,530 shares of the electronics maker's stock valued at $2,588,000 after purchasing an additional 187,205 shares during the period. Profund Advisors LLC acquired a new position in Plug Power during the 2nd quarter worth $29,000. Xponance Inc. increased its holdings in Plug Power by 118.4% during the 2nd quarter. Xponance Inc. now owns 40,035 shares of the electronics maker's stock worth $93,000 after purchasing an additional 21,707 shares during the period. Finally, Marshall Wace LLP lifted its stake in Plug Power by 80.0% in the second quarter. Marshall Wace LLP now owns 24,492 shares of the electronics maker's stock worth $57,000 after acquiring an additional 10,882 shares during the last quarter. 43.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PLUG has been the topic of a number of analyst reports. Wells Fargo & Company cut their price target on Plug Power from $3.00 to $2.00 and set an "equal weight" rating on the stock in a research note on Thursday, November 14th. HC Wainwright reissued a "buy" rating and set a $18.00 target price on shares of Plug Power in a research report on Wednesday, November 13th. Jefferies Financial Group lowered their price target on Plug Power from $2.20 to $2.00 and set a "hold" rating for the company in a report on Thursday, October 3rd. Susquehanna raised their price objective on shares of Plug Power from $2.00 to $2.50 and gave the stock a "neutral" rating in a report on Thursday, January 16th. Finally, Canaccord Genuity Group lowered their target price on shares of Plug Power from $2.50 to $2.25 and set a "hold" rating for the company in a report on Wednesday, November 13th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $4.46.

Plug Power Stock Performance

Shares of PLUG stock traded down $0.01 during midday trading on Friday, hitting $2.08. The company had a trading volume of 76,091,720 shares, compared to its average volume of 63,912,192. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of -0.97 and a beta of 1.79. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.08 and a quick ratio of 0.95. The company's 50 day simple moving average is $2.36 and its 200 day simple moving average is $2.24. Plug Power Inc. has a 52-week low of $1.60 and a 52-week high of $5.14.

Plug Power (NASDAQ:PLUG - Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.01). The firm had revenue of $173.70 million during the quarter, compared to analysts' expectations of $207.25 million. Plug Power had a negative net margin of 214.05% and a negative return on equity of 46.99%. The business's quarterly revenue was down 12.6% on a year-over-year basis. During the same quarter last year, the business earned ($0.47) earnings per share. Research analysts anticipate that Plug Power Inc. will post -1.2 earnings per share for the current fiscal year.

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.