Marathon Trading Investment Management LLC Cuts Stock Position in Plug Power Inc. (NASDAQ:PLUG)

Marathon Trading Investment Management LLC cut its holdings in shares of Plug Power Inc. (NASDAQ:PLUG) by 14.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,600 shares of the electronics maker’s stock after selling 5,624 shares during the period. Marathon Trading Investment Management LLC’s holdings in Plug Power were worth $74,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vontobel Holding Ltd. increased its stake in Plug Power by 44.3% during the third quarter. Vontobel Holding Ltd. now owns 3,426,354 shares of the electronics maker’s stock worth $7,744,000 after purchasing an additional 1,051,400 shares during the period. State Board of Administration of Florida Retirement System increased its stake in Plug Power by 5.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 600,188 shares of the electronics maker’s stock worth $2,065,000 after purchasing an additional 33,311 shares during the period. Gabelli Funds LLC grew its position in shares of Plug Power by 42.9% during the first quarter. Gabelli Funds LLC now owns 250,000 shares of the electronics maker’s stock worth $860,000 after buying an additional 75,000 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Plug Power by 25.9% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,945,162 shares of the electronics maker’s stock worth $4,532,000 after buying an additional 400,120 shares in the last quarter. Finally, Diversified Trust Co acquired a new position in shares of Plug Power during the second quarter worth about $35,000. 43.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PLUG has been the subject of a number of analyst reports. Piper Sandler lowered their price objective on Plug Power from $1.60 to $1.40 and set an “underweight” rating for the company in a research report on Thursday. BTIG Research downgraded Plug Power from a “buy” rating to a “neutral” rating in a research report on Thursday. Craig Hallum lowered their price objective on Plug Power from $4.00 to $3.00 and set a “buy” rating for the company in a research report on Thursday. Canaccord Genuity Group lowered their price objective on Plug Power from $2.50 to $2.25 and set a “hold” rating for the company in a research report on Wednesday, November 13th. Finally, Susquehanna lowered their price objective on Plug Power from $3.00 to $2.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $4.52.

Plug Power Price Performance

Plug Power stock opened at $1.87 on Monday. Plug Power Inc. has a 12 month low of $1.60 and a 12 month high of $5.14. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.08 and a quick ratio of 0.91. The business has a 50 day simple moving average of $2.08 and a 200-day simple moving average of $2.40. The stock has a market capitalization of $1.70 billion, a PE ratio of -0.87 and a beta of 1.81.

Plug Power (NASDAQ:PLUG) last released its quarterly earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.01). Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. The company had revenue of $173.70 million for the quarter, compared to analysts’ expectations of $207.25 million. During the same quarter last year, the company earned ($0.47) EPS. Plug Power’s revenue for the quarter was down 12.6% compared to the same quarter last year. Equities analysts predict that Plug Power Inc. will post -1.2 earnings per share for the current year.

Plug Power Company 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.