XTX Topco Ltd Buys New Holdings in Plug Power Inc. (NASDAQ:PLUG)

XTX Topco Ltd purchased a new position in shares of Plug Power Inc. (NASDAQ:PLUG) in the 3rd quarter, Holdings Channel reports. The firm purchased 961,775 shares of the electronics maker’s stock, valued at approximately $2,174,000.

A number of other large investors also recently modified their holdings of PLUG. Nations Financial Group Inc. IA ADV purchased a new stake in shares of Plug Power during the 2nd quarter worth $26,000. SteelPeak Wealth LLC purchased a new stake in Plug Power during the 2nd quarter worth about $26,000. Aire Advisors LLC acquired a new position in shares of Plug Power during the 2nd quarter worth about $28,000. Madison Park Capital Advisors LLC purchased a new position in shares of Plug Power in the 2nd quarter valued at about $29,000. Finally, Profund Advisors LLC acquired a new stake in shares of Plug Power during the 2nd quarter worth about $29,000. 43.48% of the stock is owned by hedge funds and other institutional investors.

Plug Power Stock Down 2.9 %

PLUG opened at $2.38 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.08 and a quick ratio of 0.95. Plug Power Inc. has a 12 month low of $1.60 and a 12 month high of $5.14. The stock has a market capitalization of $2.17 billion, a P/E ratio of -1.11 and a beta of 1.76. The business has a 50 day simple moving average of $2.11 and a 200-day simple moving average of $2.32.

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PLUG. Canaccord Genuity Group lowered their price target on Plug Power from $2.50 to $2.25 and set a “hold” rating for the company in a report on Wednesday, November 13th. Royal Bank of Canada dropped their target price on shares of Plug Power from $3.50 to $2.50 and set a “sector perform” rating on the stock in a research report on Monday, August 12th. Evercore ISI reduced their price target on shares of Plug Power from $5.00 to $4.00 and set an “outperform” rating for the company in a research report on Wednesday, November 13th. Jefferies Financial Group dropped their price objective on Plug Power from $2.20 to $2.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Finally, Truist Financial cut their target price on Plug Power from $3.00 to $2.00 and set a “hold” rating on the stock in a research report on Monday, August 12th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $4.52.

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.