SG Americas Securities LLC Sells 254,863 Shares of Plug Power, Inc. $PLUG

SG Americas Securities LLC lowered its position in Plug Power, Inc. (NASDAQ:PLUG) by 22.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 864,328 shares of the electronics maker’s stock after selling 254,863 shares during the period. SG Americas Securities LLC owned approximately 0.06% of Plug Power worth $1,953,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Plug Power by 18.2% during the fourth quarter. Vanguard Group Inc. now owns 129,599,295 shares of the electronics maker’s stock valued at $255,311,000 after acquiring an additional 19,967,339 shares during the last quarter. State Street Corp grew its holdings in Plug Power by 29.9% in the fourth quarter. State Street Corp now owns 32,258,283 shares of the electronics maker’s stock worth $63,549,000 after purchasing an additional 7,416,943 shares during the last quarter. Geode Capital Management LLC grew its holdings in Plug Power by 12.4% in the fourth quarter. Geode Capital Management LLC now owns 31,268,670 shares of the electronics maker’s stock worth $61,611,000 after purchasing an additional 3,456,323 shares during the last quarter. Legal & General Group Plc increased its position in shares of Plug Power by 4.2% during the third quarter. Legal & General Group Plc now owns 17,695,077 shares of the electronics maker’s stock worth $41,230,000 after purchasing an additional 714,212 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Plug Power during the fourth quarter worth $27,684,000. Institutional investors own 43.48% of the company’s stock.

Plug Power Stock Performance

NASDAQ PLUG opened at $2.64 on Friday. Plug Power, Inc. has a 12-month low of $1.35 and a 12-month high of $4.58. The company has a fifty day simple moving average of $3.24 and a two-hundred day simple moving average of $2.60. The company has a current ratio of 2.36, a quick ratio of 1.40 and a debt-to-equity ratio of 0.89. The stock has a market cap of $3.68 billion, a P/E ratio of -2.00 and a beta of 2.16.

Plug Power (NASDAQ:PLUG) last announced its quarterly earnings data on Monday, May 11th. The electronics maker reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. Plug Power had a negative net margin of 227.13% and a negative return on equity of 49.30%. The firm had revenue of $163.51 million for the quarter, compared to analyst estimates of $139.87 million. During the same period in the previous year, the company earned ($0.21) earnings per share. The business’s quarterly revenue was up 22.3% compared to the same quarter last year. On average, analysts forecast that Plug Power, Inc. will post -0.25 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on PLUG. Canaccord Genuity Group raised their price objective on Plug Power from $2.50 to $4.00 and gave the stock a “hold” rating in a research report on Tuesday, May 12th. TD Cowen upped their target price on Plug Power from $2.00 to $3.00 and gave the company a “hold” rating in a research report on Tuesday, May 12th. Weiss Ratings lowered Plug Power from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 25th. Wells Fargo & Company increased their price target on Plug Power from $2.00 to $2.50 and gave the company an “equal weight” rating in a research note on Tuesday, May 19th. Finally, Jefferies Financial Group lowered their price target on Plug Power from $2.00 to $1.80 and set a “hold” rating for the company in a report on Monday, March 9th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price 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.