SG Americas Securities LLC Boosts Stake in Plug Power Inc. (NASDAQ:PLUG)

SG Americas Securities LLC raised its position in shares of Plug Power Inc. (NASDAQ:PLUG - Free Report) by 110.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,615,819 shares of the electronics maker's stock after buying an additional 1,373,486 shares during the period. SG Americas Securities LLC owned about 0.28% of Plug Power worth $3,531,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in Plug Power in the fourth quarter valued at $146,465,000. Point72 Asset Management L.P. acquired a new stake in shares of Plug Power during the fourth quarter worth about $10,370,000. Vanguard Group Inc. increased its position in shares of Plug Power by 5.4% during the fourth quarter. Vanguard Group Inc. now owns 87,438,503 shares of the electronics maker's stock worth $186,244,000 after purchasing an additional 4,491,114 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Plug Power during the fourth quarter worth about $6,235,000. Finally, Caxton Associates LP acquired a new stake in shares of Plug Power during the fourth quarter worth about $1,752,000. 43.48% of the stock is currently owned by hedge funds and other institutional investors.

Plug Power Trading Down 0.8%

PLUG traded down $0.01 during trading on Friday, hitting $1.29. The company's stock had a trading volume of 60,376,143 shares, compared to its average volume of 67,392,028. The firm's 50 day moving average price is $0.93 and its 200-day moving average price is $1.63. 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 stock has a market cap of $1.39 billion, a PE ratio of -0.60 and a beta of 2.17. Plug Power Inc. has a twelve month low of $0.69 and a twelve month high of $3.34.

Plug Power (NASDAQ:PLUG - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The electronics maker reported ($0.21) EPS for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.01). The firm had revenue of $133.67 million for the quarter, compared to analyst estimates of $130.92 million. Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. On average, analysts expect that Plug Power Inc. will post -1.21 earnings per share for the current year.

Insider Transactions at Plug Power

In other Plug Power news, insider Paul B. Middleton purchased 650,000 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The stock was purchased at an average cost of $1.03 per share, with a total value of $669,500.00. Following the transaction, the insider now owns 2,558,064 shares in the company, valued at approximately $2,634,805.92. This trade represents a 34.07% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.70% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on PLUG shares. UBS Group cut their target price on Plug Power from $2.50 to $1.75 and set a "neutral" rating on the stock in a research report on Friday, March 21st. Roth Capital reissued a "buy" rating on shares of Plug Power in a research note on Tuesday, May 13th. Susquehanna decreased their price target on Plug Power from $1.80 to $1.25 and set a "neutral" rating on the stock in a research note on Monday, April 14th. B. Riley decreased their price target on Plug Power from $4.00 to $3.00 and set a "buy" rating on the stock in a research note on Wednesday, March 5th. Finally, Canaccord Genuity Group decreased their price target on Plug Power from $1.25 to $1.00 and set a "hold" rating on the stock in a research note on Tuesday, May 13th. Five equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, Plug Power presently has a consensus rating of "Hold" and an average target price of $1.83.

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.