Plug Power, Inc. $PLUG Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC cut its holdings in shares of Plug Power, Inc. (NASDAQ:PLUG) by 22.8% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 864,328 shares of the electronics maker’s stock after selling 254,863 shares during the quarter. SG Americas Securities LLC’s holdings in Plug Power were worth $1,953,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in 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 purchasing an additional 19,967,339 shares during the period. Leonteq Securities AG acquired a new stake in Plug Power during the fourth quarter worth about $734,000. Prescott Group Capital Management L.L.C. purchased a new position in shares of Plug Power during the 4th quarter valued at approximately $1,202,000. Handelsbanken Fonder AB purchased a new position in Plug Power in the fourth quarter valued at $3,915,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Plug Power by 188,201.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 781,452 shares of the electronics maker’s stock valued at $1,539,000 after acquiring an additional 781,037 shares during the period. 43.48% of the stock is owned by hedge funds and other institutional investors.

Plug Power Price Performance

PLUG opened at $2.64 on Friday. The company has a market cap of $3.68 billion, a PE ratio of -2.00 and a beta of 2.16. Plug Power, Inc. has a twelve month low of $1.35 and a twelve month high of $4.58. The company has a 50-day moving average price of $3.24 and a 200 day moving average price of $2.60. The company has a quick ratio of 1.40, a current ratio of 2.36 and a debt-to-equity ratio of 0.89.

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. BMO Capital Markets upped their price target on Plug Power from $1.00 to $1.20 and gave the stock an “underperform” rating in a report on Tuesday, May 12th. Wall Street Zen upgraded Plug Power from a “sell” rating to a “hold” rating in a research report on Monday. Weiss Ratings lowered Plug Power from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, June 25th. Wells Fargo & Company boosted their price objective on Plug Power from $2.00 to $2.50 and gave the company an “equal weight” rating in a research report on Tuesday, May 19th. Finally, Canaccord Genuity Group upped their target price on Plug Power from $2.50 to $4.00 and gave the stock a “hold” rating in a research note on Tuesday, May 12th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $3.42.

About Plug Power

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.