XTX Topco Ltd Sells 865,731 Shares of Plug Power Inc. (NASDAQ:PLUG)

XTX Topco Ltd lowered its stake in Plug Power Inc. (NASDAQ:PLUG - Free Report) by 90.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 96,044 shares of the electronics maker's stock after selling 865,731 shares during the period. XTX Topco Ltd's holdings in Plug Power were worth $205,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new stake in Plug Power in the fourth quarter valued at about $146,465,000. Vanguard Group Inc. boosted its stake in shares of Plug Power by 5.4% in the 4th quarter. Vanguard Group Inc. now owns 87,438,503 shares of the electronics maker's stock valued at $186,244,000 after purchasing an additional 4,491,114 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of Plug Power during the 4th quarter valued at approximately $6,235,000. Legal & General Group Plc increased its position in Plug Power by 8.5% during the 4th quarter. Legal & General Group Plc now owns 10,141,849 shares of the electronics maker's stock worth $21,602,000 after purchasing an additional 796,774 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Plug Power by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 19,917,268 shares of the electronics maker's stock valued at $42,434,000 after purchasing an additional 722,639 shares during the last quarter. Institutional investors and hedge funds own 43.48% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PLUG shares. Piper Sandler cut their price objective on Plug Power from $1.40 to $1.10 and set an "underweight" rating on the stock in a report on Wednesday, March 5th. BMO Capital Markets decreased their price target on shares of Plug Power from $1.60 to $1.40 and set an "underperform" rating for the company in a research report on Wednesday, March 5th. B. Riley reduced their target price on Plug Power from $4.00 to $3.00 and set a "buy" rating on the stock in a report on Wednesday, March 5th. 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. Finally, StockNews.com upgraded shares of Plug Power to a "sell" rating in a report on Tuesday, March 4th. Five analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $2.29.

Plug Power Stock Performance

PLUG traded down $0.02 during trading hours on Thursday, hitting $0.86. The stock had a trading volume of 102,657,996 shares, compared to its average volume of 54,196,529. The stock has a market cap of $792.88 million, a PE ratio of -0.40 and a beta of 2.07. Plug Power Inc. has a 1 year low of $0.76 and a 1 year high of $4.90. The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15. The company's fifty day simple moving average is $1.33 and its 200 day simple moving average is $1.89.

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.