Plug Power Inc. (NASDAQ:PLUG) Shares Purchased by Sigma Planning Corp

Sigma Planning Corp raised its holdings in Plug Power Inc. (NASDAQ:PLUG) by 26.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 42,367 shares of the electronics maker’s stock after purchasing an additional 8,837 shares during the period. Sigma Planning Corp’s holdings in Plug Power were worth $96,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Harvest Portfolios Group Inc. increased its holdings in Plug Power by 26.0% in the third quarter. Harvest Portfolios Group Inc. now owns 159,550 shares of the electronics maker’s stock valued at $361,000 after buying an additional 32,964 shares during the last quarter. MinichMacGregor Wealth Management LLC increased its holdings in shares of Plug Power by 32.4% in the 3rd quarter. MinichMacGregor Wealth Management LLC now owns 35,603 shares of the electronics maker’s stock valued at $80,000 after acquiring an additional 8,711 shares during the last quarter. Amalgamated Bank raised its position in shares of Plug Power by 36.6% during the 3rd quarter. Amalgamated Bank now owns 25,444 shares of the electronics maker’s stock valued at $58,000 after acquiring an additional 6,822 shares in the last quarter. United Advisor Group LLC bought a new position in Plug Power during the third quarter worth $223,000. Finally, Catalyst Capital Advisors LLC boosted its holdings in Plug Power by 79.9% in the third quarter. Catalyst Capital Advisors LLC now owns 12,681 shares of the electronics maker’s stock worth $29,000 after purchasing an additional 5,631 shares during the period. Institutional investors own 43.48% of the company’s stock.

Wall Street Analysts Forecast Growth

PLUG has been the topic of a number of research reports. Craig Hallum dropped their target price on shares of Plug Power from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Thursday. Royal Bank of Canada dropped their price objective on shares of Plug Power from $3.50 to $2.50 and set a “sector perform” rating on the stock in a research note on Monday, August 12th. Canaccord Genuity Group decreased their target price on Plug Power from $2.50 to $2.25 and set a “hold” rating for the company in a research note on Wednesday, November 13th. Susquehanna dropped their price target on Plug Power from $3.00 to $2.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. Finally, Jefferies Financial Group reduced their price objective on Plug Power from $2.20 to $2.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Four analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $4.52.

Plug Power Trading Down 5.1 %

Shares of NASDAQ:PLUG opened at $1.87 on Monday. Plug Power Inc. has a twelve month low of $1.60 and a twelve month high of $5.14. The company has a current ratio of 2.08, a quick ratio of 0.91 and a debt-to-equity ratio of 0.15. The firm has a market cap of $1.70 billion, a P/E ratio of -0.87 and a beta of 1.81. The company has a 50 day moving average of $2.08 and a 200-day moving average of $2.40.

Plug Power (NASDAQ:PLUG) last released its earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. The firm had revenue of $173.70 million during the quarter, compared to analyst estimates of $207.25 million. During the same quarter last year, the company earned ($0.47) earnings per share. The business’s revenue for the quarter was down 12.6% on a year-over-year basis. As a group, analysts anticipate that Plug Power Inc. will post -1.2 earnings per share for the current fiscal year.

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.