Plug Power, Inc. $PLUG Position Trimmed by Tudor Investment Corp ET AL

Key Points

• Tudor Investment Corp ET AL cut its Plug Power stake by 63.6%, selling 358,228 shares in Q3 and retaining 205,428 shares worth about $479,000, according to an SEC filing.
• Analysts hold a consensus "Hold" rating with a $3.03 price target amid mixed opinions, and although recent results beat estimates (EPS -$0.06 vs -$0.10; revenue $225.22M vs $217.38M), the company remains unprofitable with negative margins and a market cap around $4.08 billion.

Tudor Investment Corp ET AL trimmed its position in shares of Plug Power, Inc. (NASDAQ:PLUG - Free Report) by 63.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 205,428 shares of the electronics maker's stock after selling 358,228 shares during the quarter. Tudor Investment Corp ET AL's holdings in Plug Power were worth $479,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in PLUG. Kovack Advisors Inc. acquired a new stake in shares of Plug Power during the 3rd quarter valued at about $26,000. Sender Co & Partners Inc. bought a new stake in Plug Power in the second quarter worth $26,000. Yousif Capital Management LLC bought a new stake in Plug Power in the third quarter worth $27,000. Prakash Investment Advisors LLC bought a new stake in Plug Power in the third quarter worth $27,000. Finally, Oak Thistle LLC acquired a new stake in Plug Power in the 3rd quarter worth approximately $30,000. 43.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PLUG. BMO Capital Markets reaffirmed an "underperform" rating and set a $1.00 target price on shares of Plug Power in a research report on Tuesday, March 3rd. Oppenheimer reaffirmed a "market perform" rating on shares of Plug Power in a research report on Tuesday, March 3rd. TD Cowen cut Plug Power from a "buy" rating to a "hold" rating in a research report on Friday, January 9th. BTIG Research reaffirmed a "neutral" rating on shares of Plug Power in a research report on Tuesday, March 3rd. Finally, Clear Str raised Plug Power from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, December 31st. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $3.03.

Plug Power Stock Performance

Shares of NASDAQ PLUG opened at $2.93 on Thursday. The company has a quick ratio of 1.46, a current ratio of 2.31 and a debt-to-equity ratio of 0.64. The business's 50 day moving average is $2.21 and its two-hundred day moving average is $2.40. The company has a market cap of $4.08 billion, a P/E ratio of -2.17 and a beta of 1.79. Plug Power, Inc. has a 12 month low of $0.69 and a 12 month high of $4.58.

Plug Power (NASDAQ:PLUG - Get Free Report) last issued its quarterly earnings results on Monday, March 2nd. The electronics maker reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.04. The company had revenue of $225.22 million for the quarter, compared to the consensus estimate of $217.38 million. Plug Power had a negative return on equity of 45.97% and a negative net margin of 229.83%.During the same period in the previous year, the business posted ($1.48) EPS. On average, equities analysts expect that Plug Power, Inc. will post -1.21 EPS for the current year.

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.

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