Plug Power Inc. (NASDAQ:PLUG) Shares Sold by Marathon Trading Investment Management LLC

Marathon Trading Investment Management LLC decreased its position in shares of Plug Power Inc. (NASDAQ:PLUG) by 33.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 38,224 shares of the electronics maker’s stock after selling 19,376 shares during the quarter. Marathon Trading Investment Management LLC’s holdings in Plug Power were worth $89,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of PLUG. Norges Bank acquired a new position in shares of Plug Power during the fourth quarter valued at $97,800,000. Swedbank AB acquired a new stake in Plug Power in the first quarter worth about $10,687,000. SG Americas Securities LLC lifted its holdings in Plug Power by 134.0% in the second quarter. SG Americas Securities LLC now owns 2,458,537 shares of the electronics maker’s stock worth $5,728,000 after purchasing an additional 1,407,858 shares during the period. Quadrature Capital Ltd acquired a new stake in Plug Power in the fourth quarter worth about $5,133,000. Finally, Pinnacle Associates Ltd. lifted its holdings in Plug Power by 41.4% in the first quarter. Pinnacle Associates Ltd. now owns 3,775,808 shares of the electronics maker’s stock worth $12,989,000 after purchasing an additional 1,105,813 shares during the period. Institutional investors and hedge funds own 43.48% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Royal Bank of Canada reduced their price objective on shares of Plug Power from $3.50 to $2.50 and set a “sector perform” rating for the company in a report on Monday, August 12th. Wells Fargo & Company reduced their price objective on shares of Plug Power from $4.00 to $3.00 and set an “equal weight” rating for the company in a report on Friday, August 9th. Piper Sandler dropped their price target on shares of Plug Power from $2.50 to $2.40 and set an “underweight” rating on the stock in a research report on Monday, July 22nd. Susquehanna dropped their price target on shares of Plug Power from $3.00 to $2.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. Finally, Truist Financial dropped their price target on shares of Plug Power from $3.00 to $2.00 and set a “hold” rating on the stock in a research report on Monday, August 12th. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Plug Power has a consensus rating of “Hold” and an average price target of $5.19.

Plug Power Price Performance

Shares of PLUG opened at $2.10 on Thursday. The company has a market capitalization of $1.56 billion, a price-to-earnings ratio of -0.88 and a beta of 1.79. Plug Power Inc. has a fifty-two week low of $1.60 and a fifty-two week high of $8.45. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.07 and a quick ratio of 0.91. The business’s 50-day moving average is $2.24 and its 200-day moving average is $2.72.

Plug Power (NASDAQ:PLUG) last issued its earnings results on Thursday, August 8th. The electronics maker reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.06). The business had revenue of $143.40 million during the quarter, compared to analyst estimates of $184.54 million. Plug Power had a negative net margin of 216.80% and a negative return on equity of 47.51%. Plug Power’s revenue for the quarter was down 44.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.35) EPS. Equities research analysts expect that Plug Power Inc. will post -1.15 EPS for the current fiscal 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.