SG Americas Securities LLC Acquires 1,373,486 Shares of Plug Power, Inc. (NASDAQ:PLUG)

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

Other hedge funds have also modified their holdings of the company. Oppenheimer & Co. Inc. bought a new stake in Plug Power in the fourth quarter worth $25,000. Jones Financial Companies Lllp grew its stake in shares of Plug Power by 107.4% in the 4th quarter. Jones Financial Companies Lllp now owns 11,730 shares of the electronics maker's stock worth $25,000 after buying an additional 6,074 shares in the last quarter. Miracle Mile Advisors LLC bought a new stake in shares of Plug Power in the 1st quarter worth about $26,000. Callan Family Office LLC bought a new stake in shares of Plug Power in the 4th quarter worth about $27,000. Finally, Ground Swell Capital LLC purchased a new stake in shares of Plug Power during the 4th quarter valued at about $27,000. 43.48% of the stock is owned by hedge funds and other institutional investors.

Plug Power Trading Down 16.8%

PLUG stock traded down $0.22 during trading on Tuesday, hitting $1.09. The company had a trading volume of 93,402,656 shares, compared to its average volume of 67,851,755. Plug Power, Inc. has a 52-week low of $0.69 and a 52-week high of $3.34. The company has a 50 day simple moving average of $0.93 and a 200-day simple moving average of $1.61. The firm has a market capitalization of $1.25 billion, a P/E ratio of -0.44 and a beta of 2.17. The company has a quick ratio of 1.07, a current ratio of 1.95 and a debt-to-equity ratio of 0.27.

Plug Power (NASDAQ:PLUG - Get Free Report) last issued its earnings results 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 company had revenue of $133.67 million during the quarter, compared to the consensus estimate of $130.92 million. Plug Power had a negative return on equity of 82.21% and a negative net margin of 312.29%. As a group, research analysts forecast that Plug Power, Inc. will post -1.21 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. UBS Group reduced their price objective on Plug Power from $2.50 to $1.75 and set a "neutral" rating on the stock in a research note on Friday, March 21st. Truist Financial cut their target price on Plug Power from $2.00 to $1.50 and set a "hold" rating on the stock in a research report on Wednesday, March 5th. Canaccord Genuity Group lowered their price target on Plug Power from $1.25 to $1.00 and set a "hold" rating for the company in a research report on Tuesday, May 13th. Susquehanna dropped their price objective on shares of Plug Power from $1.80 to $1.25 and set a "neutral" rating for the company in a research note on Monday, April 14th. Finally, Wall Street Zen raised shares of Plug Power to a "sell" rating in a research note on Tuesday, May 13th. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $1.83.

Insider Buying and Selling

In other news, CFO Paul B. Middleton acquired 350,000 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The stock was purchased at an average cost of $0.72 per share, for a total transaction of $252,000.00. Following the completion of the acquisition, the chief financial officer now directly owns 1,908,064 shares of the company's stock, valued at $1,373,806.08. The trade was a 22.46% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.41% of the stock is owned by insiders.

Plug Power Company Profile

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.