Caxton Associates LLP Purchases 786,172 Shares of Plug Power, Inc. $PLUG

Caxton Associates LLP lifted its holdings in Plug Power, Inc. (NASDAQ:PLUG) by 341.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,016,724 shares of the electronics maker’s stock after buying an additional 786,172 shares during the quarter. Caxton Associates LLP owned about 0.07% of Plug Power worth $2,298,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Towarzystwo Funduszy Inwestycyjnych PZU SA raised its position in shares of Plug Power by 116.7% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 13,000 shares of the electronics maker’s stock worth $26,000 after acquiring an additional 7,000 shares during the last quarter. Sender Co & Partners Inc. acquired a new position in Plug Power during the 2nd quarter valued at about $26,000. DUTCH ASSET Corp bought a new position in shares of Plug Power in the 4th quarter valued at about $29,000. Independent Advisor Alliance acquired a new stake in shares of Plug Power during the 4th quarter worth approximately $30,000. Finally, GAMMA Investing LLC raised its stake in shares of Plug Power by 174.2% during the fourth quarter. GAMMA Investing LLC now owns 15,527 shares of the electronics maker’s stock worth $31,000 after buying an additional 9,865 shares during the last quarter. Institutional investors and hedge funds own 43.48% of the company’s stock.

Plug Power Trading Down 4.1%

Shares of NASDAQ PLUG opened at $2.10 on Friday. Plug Power, Inc. has a twelve month low of $1.39 and a twelve month high of $4.58. The stock has a market cap of $2.93 billion, a price-to-earnings ratio of -1.59 and a beta of 2.16. The company has a quick ratio of 1.40, a current ratio of 2.36 and a debt-to-equity ratio of 0.89. The company’s fifty day moving average is $2.90 and its 200-day moving average is $2.62.

Plug Power (NASDAQ:PLUG) last issued its quarterly earnings data on Monday, May 11th. The electronics maker reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.01. The business had revenue of $163.51 million for the quarter, compared to the consensus estimate of $139.87 million. Plug Power had a negative return on equity of 49.30% and a negative net margin of 227.13%.The firm’s revenue was up 22.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.21) EPS. Equities research analysts predict that Plug Power, Inc. will post -0.25 EPS for the current year.

Wall Street Analyst Weigh In

PLUG has been the topic of a number of recent research reports. B. Riley Financial raised their price objective on shares of Plug Power from $3.00 to $5.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Wells Fargo & Company increased their price target on Plug Power from $2.00 to $2.50 and gave the company an “equal weight” rating in a research note on Tuesday, May 19th. BMO Capital Markets raised their price target on Plug Power from $1.00 to $1.20 and gave the stock an “underperform” rating in a research report on Tuesday, May 12th. Morgan Stanley lifted their price objective on Plug Power from $1.50 to $1.65 and gave the stock an “underweight” rating in a research note on Thursday, July 9th. Finally, Susquehanna dropped their price objective on Plug Power from $3.75 to $2.50 and set a “neutral” rating for the company in a report on Friday, July 10th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $3.30.

Plug Power Profile

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.