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

Marathon Trading Investment Management LLC decreased its holdings in Plug Power Inc. (NASDAQ:PLUG) by 14.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 32,600 shares of the electronics maker’s stock after selling 5,624 shares during the quarter. Marathon Trading Investment Management LLC’s holdings in Plug Power were worth $74,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Plug Power by 1.9% in the first quarter. Vanguard Group Inc. now owns 54,986,479 shares of the electronics maker’s stock valued at $189,153,000 after buying an additional 999,194 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Plug Power by 23.6% in the third quarter. Van ECK Associates Corp now owns 4,232,001 shares of the electronics maker’s stock valued at $8,803,000 after buying an additional 809,187 shares in the last quarter. Vontobel Holding Ltd. increased its position in shares of Plug Power by 44.3% in the third quarter. Vontobel Holding Ltd. now owns 3,426,354 shares of the electronics maker’s stock valued at $7,744,000 after buying an additional 1,051,400 shares in the last quarter. Swedbank AB purchased a new position in shares of Plug Power in the first quarter valued at $10,687,000. Finally, Bank of New York Mellon Corp increased its position in shares of Plug Power by 69.4% in the second quarter. Bank of New York Mellon Corp now owns 2,530,346 shares of the electronics maker’s stock valued at $5,896,000 after buying an additional 1,036,777 shares in the last quarter. Hedge funds and other institutional investors own 43.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PLUG shares. BTIG Research lowered Plug Power from a “buy” rating to a “neutral” rating in a research note on Thursday. Susquehanna decreased their price objective on Plug Power from $3.00 to $2.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. Piper Sandler decreased their price objective on Plug Power from $1.60 to $1.40 and set an “underweight” rating on the stock in a research note on Thursday. Evercore ISI decreased their price objective on Plug Power from $5.00 to $4.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 13th. Finally, Canaccord Genuity Group decreased their price objective on Plug Power from $2.50 to $2.25 and set a “hold” rating on the stock in a research note on Wednesday, November 13th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Plug Power has a consensus rating of “Hold” and a consensus target price of $4.52.

Plug Power Stock Performance

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

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

About Plug Power

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.