Plug Power Inc. (NASDAQ:PLUG) Holdings Cut by Sigma Planning Corp

Sigma Planning Corp cut its stake in shares of Plug Power Inc. (NASDAQ:PLUG) by 22.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,041 shares of the electronics maker’s stock after selling 4,835 shares during the quarter. Sigma Planning Corp’s holdings in Plug Power were worth $77,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Millburn Ridgefield Corp bought a new stake in Plug Power in the third quarter valued at $29,000. Exchange Traded Concepts LLC lifted its holdings in shares of Plug Power by 30.3% during the third quarter. Exchange Traded Concepts LLC now owns 6,486 shares of the electronics maker’s stock valued at $49,000 after purchasing an additional 1,510 shares during the last quarter. FAS Wealth Partners Inc. purchased a new position in shares of Plug Power in the fourth quarter worth approximately $45,000. Signaturefd LLC grew its holdings in shares of Plug Power by 114.3% during the third quarter. Signaturefd LLC now owns 10,256 shares of the electronics maker’s stock valued at $78,000 after buying an additional 5,471 shares in the last quarter. Finally, Forum Financial Management LP acquired a new position in shares of Plug Power in the 3rd quarter valued at about $79,000. Institutional investors own 43.48% of the company’s stock.

Plug Power Stock Performance

Shares of PLUG stock opened at $2.40 on Tuesday. The company’s fifty day simple moving average is $3.22 and its two-hundred day simple moving average is $4.07. The company has a current ratio of 1.85, a quick ratio of 0.86 and a debt-to-equity ratio of 0.18. Plug Power Inc. has a 52 week low of $2.25 and a 52 week high of $13.44.

Plug Power (NASDAQ:PLUG) last announced its earnings results on Friday, March 1st. The electronics maker reported ($1.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.52). The company had revenue of $222.20 million during the quarter, compared to analysts’ expectations of $234.21 million. Plug Power had a negative return on equity of 38.09% and a negative net margin of 153.57%. Plug Power’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.38) EPS. As a group, research analysts predict that Plug Power Inc. will post -0.94 EPS for the current year.

Analyst Ratings Changes

PLUG has been the topic of several analyst reports. Roth Capital upgraded shares of Plug Power from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 31st. HSBC lowered their target price on shares of Plug Power from $9.00 to $8.50 and set a “buy” rating on the stock in a report on Tuesday, March 5th. Seaport Res Ptn downgraded shares of Plug Power from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 6th. B. Riley cut their price objective on shares of Plug Power from $18.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, January 24th. Finally, BMO Capital Markets cut shares of Plug Power from a “market perform” rating to an “underperform” rating and lowered their price objective for the company from $3.50 to $2.50 in a research report on Wednesday, January 24th. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $6.05.

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.