Plug Power Inc. (NASDAQ:PLUG) Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC lifted its stake in Plug Power Inc. (NASDAQ:PLUG - Free Report) by 183.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,656,282 shares of the electronics maker's stock after purchasing an additional 1,072,344 shares during the period. SG Americas Securities LLC owned 0.27% of Plug Power worth $7,453,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Brookstone Capital Management increased its stake in shares of Plug Power by 22.3% in the 4th quarter. Brookstone Capital Management now owns 17,973 shares of the electronics maker's stock worth $81,000 after purchasing an additional 3,273 shares in the last quarter. Bouvel Investment Partners LLC boosted its holdings in Plug Power by 8.1% in the 4th quarter. Bouvel Investment Partners LLC now owns 202,362 shares of the electronics maker's stock worth $911,000 after buying an additional 15,114 shares during the period. First Affirmative Financial Network bought a new position in Plug Power in the 4th quarter worth $50,000. InTrack Investment Management Inc boosted its holdings in Plug Power by 159.7% in the 4th quarter. InTrack Investment Management Inc now owns 34,701 shares of the electronics maker's stock worth $156,000 after buying an additional 21,341 shares during the period. Finally, WNY Asset Management LLC boosted its holdings in Plug Power by 29.6% in the 3rd quarter. WNY Asset Management LLC now owns 69,873 shares of the electronics maker's stock worth $531,000 after buying an additional 15,977 shares during the period. 49.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PLUG. Royal Bank of Canada dropped their target price on shares of Plug Power from $5.00 to $3.50 and set a "sector perform" rating for the company in a report on Wednesday, January 24th. Truist Financial upped their target price on shares of Plug Power from $3.00 to $4.00 and gave the stock a "hold" rating in a report on Wednesday, February 28th. Seaport Res Ptn downgraded shares of Plug Power from a "buy" rating to a "neutral" rating in a report on Tuesday, February 6th. Piper Sandler increased their price objective on shares of Plug Power from $2.80 to $2.90 and gave the company an "underweight" rating in a report on Tuesday, March 5th. Finally, Craig Hallum dropped their price objective on shares of Plug Power from $6.00 to $5.00 and set a "buy" rating for the company in a report on Monday, March 4th. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, Plug Power presently has an average rating of "Hold" and an average target price of $6.20.

Plug Power Trading Down 5.0 %

Plug Power stock traded down $0.18 during midday trading on Friday, reaching $3.41. The stock had a trading volume of 18,950,907 shares, compared to its average volume of 38,853,596. The company has a quick ratio of 0.86, a current ratio of 1.85 and a debt-to-equity ratio of 0.18. Plug Power Inc. has a 52-week low of $2.26 and a 52-week high of $13.44. The firm has a market cap of $2.33 billion, a price-to-earnings ratio of -1.49 and a beta of 1.56. The company has a fifty day moving average of $3.67 and a 200 day moving average of $4.92.

Plug Power (NASDAQ:PLUG - Get Free Report) last posted its quarterly earnings data on Friday, March 1st. The electronics maker reported ($1.08) earnings per share for the quarter, missing analysts' consensus estimates of ($0.56) by ($0.52). Plug Power had a negative return on equity of 38.09% and a negative net margin of 153.57%. The firm had revenue of $222.20 million during the quarter, compared to analysts' expectations of $234.21 million. During the same period last year, the company earned ($0.38) earnings per share. The business's revenue for the quarter was up .7% compared to the same quarter last year. On average, analysts anticipate that Plug Power Inc. will post -0.97 earnings per share 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.