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

SG Americas Securities LLC trimmed its position in Plug Power, Inc. (NASDAQ:PLUG) by 75.3% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 362,681 shares of the electronics maker’s stock after selling 1,107,228 shares during the period. SG Americas Securities LLC’s holdings in Plug Power were worth $845,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sender Co & Partners Inc. bought a new position in Plug Power during the 2nd quarter worth approximately $26,000. Yousif Capital Management LLC acquired a new stake in shares of Plug Power during the 3rd quarter valued at approximately $27,000. Abel Hall LLC acquired a new stake in shares of Plug Power during the 2nd quarter valued at approximately $30,000. O ROURKE & COMPANY Inc bought a new position in Plug Power during the second quarter worth $30,000. Finally, Obermeyer Wealth Partners boosted its holdings in Plug Power by 100.0% in the second quarter. Obermeyer Wealth Partners now owns 20,000 shares of the electronics maker’s stock worth $30,000 after purchasing an additional 10,000 shares during the period. 43.48% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Plug Power news, insider Jose Luis Crespo purchased 37,300 shares of the stock in a transaction dated Monday, December 15th. The shares were bought at an average cost of $2.34 per share, with a total value of $87,282.00. Following the completion of the acquisition, the insider owned 307,332 shares of the company’s stock, valued at approximately $719,156.88. This trade represents a 13.81% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Benjamin Haycraft sold 40,000 shares of the company’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $2.20, for a total transaction of $88,000.00. Following the completion of the sale, the insider directly owned 373,809 shares of the company’s stock, valued at $822,379.80. The trade was a 9.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 90,000 shares of company stock worth $204,000 over the last three months. Corporate insiders own 0.56% of the company’s stock.

Plug Power Price Performance

NASDAQ PLUG opened at $2.36 on Tuesday. The company has a 50-day moving average price of $2.18 and a two-hundred day moving average price of $2.17. Plug Power, Inc. has a 52 week low of $0.69 and a 52 week high of $4.58. The stock has a market cap of $3.28 billion, a price-to-earnings ratio of -1.00 and a beta of 1.68. The company has a current ratio of 1.32, a quick ratio of 0.70 and a debt-to-equity ratio of 0.24.

Plug Power (NASDAQ:PLUG) last issued its quarterly earnings data on Monday, November 10th. The electronics maker reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.01. Plug Power had a negative return on equity of 105.98% and a negative net margin of 313.69%.The business had revenue of $177.06 million during the quarter, compared to the consensus estimate of $185.41 million. Analysts forecast that Plug Power, Inc. will post -1.21 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on PLUG shares. Susquehanna reduced their price target on shares of Plug Power from $3.50 to $2.50 and set a “neutral” rating on the stock in a research report on Monday, November 17th. HC Wainwright reiterated a “buy” rating and set a $7.00 price objective on shares of Plug Power in a research note on Monday, November 24th. TD Cowen downgraded Plug Power from a “buy” rating to a “hold” rating and decreased their target price for the company from $4.00 to $2.00 in a research note on Friday, January 9th. HSBC set a $4.40 target price on Plug Power in a report on Thursday, October 9th. Finally, Morgan Stanley restated an “underweight” rating and set a $1.50 price objective on shares of Plug Power in a research report on Thursday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, eight have issued a Hold rating and six have issued a Sell rating to the company. According to MarketBeat.com, Plug Power has a consensus rating of “Hold” and a consensus target price of $2.73.

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.