Plug Power, Inc. $PLUG Shares Purchased by XTX Topco Ltd

XTX Topco Ltd raised its position in shares of Plug Power, Inc. (NASDAQ:PLUG) by 356.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,624,534 shares of the electronics maker’s stock after acquiring an additional 1,268,274 shares during the period. XTX Topco Ltd owned approximately 0.14% of Plug Power worth $2,421,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of PLUG. Baader Bank Aktiengesellschaft purchased a new position in Plug Power in the first quarter valued at approximately $28,000. O ROURKE & COMPANY Inc purchased a new stake in Plug Power during the second quarter worth approximately $30,000. Abel Hall LLC acquired a new stake in shares of Plug Power in the second quarter worth $30,000. Obermeyer Wealth Partners raised its stake in shares of Plug Power by 100.0% in the 2nd quarter. Obermeyer Wealth Partners now owns 20,000 shares of the electronics maker’s stock valued at $30,000 after acquiring an additional 10,000 shares during the period. Finally, Freedom Investment Management Inc. purchased a new stake in Plug Power during the 2nd quarter worth $32,000. 43.48% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on PLUG shares. Susquehanna decreased their target price on Plug Power from $3.50 to $2.50 and set a “neutral” rating for the company in a research report on Monday, November 17th. HC Wainwright restated a “buy” rating and issued a $7.00 price target on shares of Plug Power in a report on Monday. Cowen reaffirmed a “buy” rating on shares of Plug Power in a research report on Wednesday, November 19th. Wall Street Zen cut shares of Plug Power from a “hold” rating to a “sell” rating in a research report on Sunday, November 16th. Finally, Morgan Stanley restated an “underweight” rating and issued a $1.50 target price on shares of Plug Power in a research note on Thursday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have issued a Hold rating and six have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $2.80.

Insider Transactions at Plug Power

In other Plug Power news, EVP Benjamin Haycraft sold 10,000 shares of Plug Power stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $2.92, for a total value of $29,200.00. Following the completion of the transaction, the executive vice president directly owned 467,583 shares in the company, valued at $1,365,342.36. The trade was a 2.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.41% of the stock is owned by corporate insiders.

Plug Power Price Performance

Shares of NASDAQ PLUG opened at $1.98 on Thursday. The company has a current ratio of 1.59, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $2.76 billion, a price-to-earnings ratio of -0.86 and a beta of 2.28. Plug Power, Inc. has a twelve month low of $0.69 and a twelve month high of $4.58. The business has a 50 day simple moving average of $2.78 and a 200-day simple moving average of $1.86.

Plug Power (NASDAQ:PLUG) last issued its earnings results on Monday, November 10th. The electronics maker reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.01. Plug Power had a negative net margin of 292.84% and a negative return on equity of 90.22%. The company had revenue of $177.06 million for the quarter, compared to analysts’ expectations of $185.41 million. Plug Power has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that Plug Power, Inc. will post -1.21 earnings per share for the current year.

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.