XTX Topco Ltd Raises Stock Position in Plug Power, Inc. (NASDAQ:PLUG)

XTX Topco Ltd increased its stake in shares of Plug Power, Inc. (NASDAQ:PLUG - Free Report) by 270.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 356,260 shares of the electronics maker's stock after purchasing an additional 260,216 shares during the period. XTX Topco Ltd's holdings in Plug Power were worth $481,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Mariner LLC raised its position in shares of Plug Power by 29.7% during the 4th quarter. Mariner LLC now owns 177,839 shares of the electronics maker's stock worth $379,000 after purchasing an additional 40,710 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Plug Power by 2.7% during the 4th quarter. Wells Fargo & Company MN now owns 2,685,413 shares of the electronics maker's stock worth $5,720,000 after purchasing an additional 70,187 shares during the last quarter. Two Sigma Investments LP raised its position in shares of Plug Power by 387.7% during the 4th quarter. Two Sigma Investments LP now owns 969,327 shares of the electronics maker's stock worth $2,065,000 after purchasing an additional 770,564 shares during the last quarter. Deutsche Bank AG raised its position in shares of Plug Power by 88.3% during the 4th quarter. Deutsche Bank AG now owns 978,101 shares of the electronics maker's stock worth $2,083,000 after purchasing an additional 458,706 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Plug Power by 11.1% during the 4th quarter. Northern Trust Corp now owns 7,907,687 shares of the electronics maker's stock worth $16,843,000 after purchasing an additional 790,650 shares during the last quarter. 43.48% of the stock is currently owned by institutional investors and hedge funds.

Plug Power Stock Performance

Shares of Plug Power stock opened at $1.51 on Friday. The firm has a market cap of $1.73 billion, a PE ratio of -0.61 and a beta of 2.35. The firm's 50-day simple moving average is $1.39 and its 200-day simple moving average is $1.36. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.07 and a current ratio of 1.95. Plug Power, Inc. has a 1 year low of $0.69 and a 1 year high of $3.32.

Plug Power (NASDAQ:PLUG - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The electronics maker reported ($0.21) earnings per share for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.01). Plug Power had a negative net margin of 312.29% and a negative return on equity of 82.21%. The business had revenue of $133.67 million for the quarter, compared to the consensus estimate of $130.92 million. Equities analysts forecast that Plug Power, Inc. will post -1.21 earnings per share for the current fiscal year.

Insider Buying and Selling at Plug Power

In other Plug Power news, insider Paul B. Middleton acquired 650,000 shares of the stock in a transaction that occurred on Monday, June 9th. The stock was acquired at an average price of $1.03 per share, with a total value of $669,500.00. Following the transaction, the insider directly owned 2,558,064 shares in the company, valued at approximately $2,634,805.92. This represents a 34.07% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.41% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on PLUG. Susquehanna lifted their target price on shares of Plug Power from $1.00 to $1.80 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Canaccord Genuity Group lowered their target price on shares of Plug Power from $1.25 to $1.00 and set a "hold" rating for the company in a research note on Tuesday, May 13th. Morgan Stanley lowered their target price on shares of Plug Power from $1.25 to $0.50 and set an "underweight" rating for the company in a research note on Monday, May 19th. Roth Capital reissued a "buy" rating on shares of Plug Power in a research note on Tuesday, May 13th. Finally, Piper Sandler lowered their price objective on shares of Plug Power from $1.10 to $0.80 and set an "underweight" rating for the company in a research note on Wednesday, May 14th. Six research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $1.92.

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.

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