Two Sigma Investments LP Grows Stock Position in Plug Power Inc. (NASDAQ:PLUG)

Two Sigma Investments LP boosted its stake in Plug Power Inc. (NASDAQ:PLUG - Free Report) by 387.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 969,327 shares of the electronics maker's stock after acquiring an additional 770,564 shares during the period. Two Sigma Investments LP owned 0.11% of Plug Power worth $2,065,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Oppenheimer & Co. Inc. bought a new stake in Plug Power in the fourth quarter valued at $25,000. Pacific Sage Partners LLC bought a new stake in shares of Plug Power during the 4th quarter valued at $25,000. Jones Financial Companies Lllp boosted its holdings in shares of Plug Power by 107.4% during the 4th quarter. Jones Financial Companies Lllp now owns 11,730 shares of the electronics maker's stock valued at $25,000 after buying an additional 6,074 shares in the last quarter. Callan Family Office LLC bought a new stake in shares of Plug Power during the 4th quarter valued at $27,000. Finally, Ground Swell Capital LLC bought a new stake in shares of Plug Power during the 4th quarter valued at $27,000. Institutional investors own 43.48% of the company's stock.

Insiders Place Their Bets

In other Plug Power news, CFO Paul B. Middleton purchased 350,000 shares of Plug Power stock in a transaction dated Friday, May 16th. The stock was purchased at an average price of $0.72 per share, with a total value of $252,000.00. Following the transaction, the chief financial officer now directly owns 1,908,064 shares of the company's stock, valued at $1,373,806.08. This trade represents a 22.46% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.70% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on PLUG. HC Wainwright restated a "buy" rating and set a $3.00 target price on shares of Plug Power in a report on Monday, March 24th. Wells Fargo & Company dropped their target price on shares of Plug Power from $2.00 to $1.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 14th. UBS Group dropped their target price on shares of Plug Power from $2.50 to $1.75 and set a "neutral" rating on the stock in a report on Friday, March 21st. Canaccord Genuity Group dropped their target price on shares of Plug Power from $1.25 to $1.00 and set a "hold" rating on the stock in a report on Tuesday, May 13th. Finally, Roth Capital restated a "buy" rating on shares of Plug Power in a report on Tuesday, May 13th. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $1.83.

Plug Power Stock Performance

NASDAQ:PLUG traded down $0.06 during mid-day trading on Thursday, reaching $0.87. The company's stock had a trading volume of 78,396,486 shares, compared to its average volume of 64,667,628. Plug Power Inc. has a 12-month low of $0.69 and a 12-month high of $3.34. The firm's fifty day moving average price is $0.93 and its two-hundred day moving average price is $1.66. The company has a current ratio of 2.08, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. The stock has a market cap of $939.78 million, a P/E ratio of -0.41 and a beta of 2.19.

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

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.