Caxton Associates LP Buys New Position in Plug Power Inc. (NASDAQ:PLUG)

Caxton Associates LP acquired a new stake in shares of Plug Power Inc. (NASDAQ:PLUG - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 822,349 shares of the electronics maker's stock, valued at approximately $1,752,000. Caxton Associates LP owned 0.09% of Plug Power as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PLUG. Kieckhefer Group LLC purchased a new position in Plug Power in the fourth quarter valued at about $138,000. Arkadios Wealth Advisors increased its holdings in Plug Power by 88.0% in the fourth quarter. Arkadios Wealth Advisors now owns 62,082 shares of the electronics maker's stock valued at $132,000 after buying an additional 29,062 shares during the last quarter. ACT Wealth Management LLC lifted its holdings in Plug Power by 71.4% during the 4th quarter. ACT Wealth Management LLC now owns 24,000 shares of the electronics maker's stock worth $51,000 after buying an additional 10,000 shares during the last quarter. Sustainable Insight Capital Management LLC acquired a new position in Plug Power in the fourth quarter worth $79,000. Finally, PFG Investments LLC increased its stake in Plug Power by 16.8% during the fourth quarter. PFG Investments LLC now owns 467,836 shares of the electronics maker's stock valued at $996,000 after purchasing an additional 67,251 shares during the last quarter. 43.48% of the stock is currently owned by institutional investors and hedge funds.

Plug Power Stock Performance

Plug Power stock traded up $0.01 during trading hours on Friday, hitting $0.86. The company had a trading volume of 78,496,541 shares, compared to its average volume of 55,792,022. The firm has a 50-day moving average of $1.23 and a 200 day moving average of $1.83. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.08 and a quick ratio of 0.95. The firm has a market cap of $880.22 million, a PE ratio of -0.40 and a beta of 2.19. Plug Power Inc. has a one year low of $0.76 and a one year high of $4.90.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Piper Sandler reduced their price objective on Plug Power from $1.40 to $1.10 and set an "underweight" rating for the company in a research report on Wednesday, March 5th. HC Wainwright restated a "buy" rating and set a $3.00 price target on shares of Plug Power in a research report on Monday, March 24th. Seaport Res Ptn cut shares of Plug Power from a "hold" rating to a "strong sell" rating in a research report on Monday, January 27th. B. Riley decreased their price objective on Plug Power from $4.00 to $3.00 and set a "buy" rating for the company in a report on Wednesday, March 5th. Finally, StockNews.com raised Plug Power to a "sell" rating in a research note on Tuesday, March 4th. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $2.29.

Plug Power 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.