Caxton Associates LLP Has $2.30 Million Holdings in Plug Power, Inc. $PLUG

Caxton Associates LLP boosted its position in shares of Plug Power, Inc. (NASDAQ:PLUG) by 341.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,016,724 shares of the electronics maker’s stock after purchasing an additional 786,172 shares during the period. Caxton Associates LLP’s holdings in Plug Power were worth $2,298,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Plug Power by 18.2% in the 4th quarter. Vanguard Group Inc. now owns 129,599,295 shares of the electronics maker’s stock valued at $255,311,000 after buying an additional 19,967,339 shares during the last quarter. SG Americas Securities LLC boosted its position in Plug Power by 208.6% during the 4th quarter. SG Americas Securities LLC now owns 1,119,191 shares of the electronics maker’s stock worth $2,205,000 after acquiring an additional 756,510 shares during the last quarter. Leonteq Securities AG bought a new position in shares of Plug Power during the 4th quarter worth approximately $734,000. Prescott Group Capital Management L.L.C. bought a new position in shares of Plug Power during the 4th quarter worth approximately $1,202,000. Finally, Handelsbanken Fonder AB bought a new position in shares of Plug Power during the 4th quarter worth approximately $3,915,000. Institutional investors and hedge funds own 43.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on PLUG shares. TD Cowen boosted their price objective on shares of Plug Power from $2.00 to $3.00 and gave the stock a “hold” rating in a research report on Tuesday, May 12th. BMO Capital Markets raised their target price on shares of Plug Power from $1.00 to $1.20 and gave the company an “underperform” rating in a research report on Tuesday, May 12th. Canaccord Genuity Group lifted their price target on shares of Plug Power from $2.50 to $4.00 and gave the company a “hold” rating in a research note on Tuesday, May 12th. Susquehanna reduced their price objective on shares of Plug Power from $3.75 to $2.50 and set a “neutral” rating for the company in a research note on Friday, July 10th. Finally, B. Riley Financial raised their price objective on Plug Power from $3.00 to $5.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $3.30.

Plug Power Stock Performance

Shares of PLUG opened at $2.10 on Friday. The firm has a 50-day moving average of $2.90 and a 200-day moving average of $2.62. Plug Power, Inc. has a one year low of $1.39 and a one year high of $4.58. The company has a market cap of $2.93 billion, a PE ratio of -1.59 and a beta of 2.16. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.36 and a quick ratio of 1.40.

Plug Power (NASDAQ:PLUG) last issued its earnings results on Monday, May 11th. The electronics maker reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. Plug Power had a negative net margin of 227.13% and a negative return on equity of 49.30%. The company had revenue of $163.51 million for the quarter, compared to analysts’ expectations of $139.87 million. During the same period in the prior year, the firm earned ($0.21) EPS. Plug Power’s quarterly revenue was up 22.3% compared to the same quarter last year. As a group, equities analysts forecast that Plug Power, Inc. will post -0.25 earnings per share for the current year.

About Plug Power

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.