Plug Power (NASDAQ:PLUG) Trading Down 2.7%

Plug Power Inc stock price (NASDAQ:PLUG – Get Free Report ) fell 2.7% on Thursday. The company traded as high as $2.13 and last traded at $2.14. 5,214,113 shares changed hands in mid-day trading, down 87% from the session’s average volume of 39,678,891 shares. Shares previously closed at $2.20.

Analysts on Wall Street are forecasting an increase

A number of analysts recently commented on PLUG shares. TD Cowen cut their price target on shares of Plug Power from $7.00 to $5.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Morgan Stanley decreased their price target on Plug Power from $3.00 to $2.50 and set an “underweight” rating on the stock in a research note on Friday, May 10th. HC Wainwright reissued a “buy” rating and issued a $18.00 target price on shares of Plug Power in a report on Tuesday, May 14th. B. Riley upgraded Plug Power to a “strong-buy” rating in a research note on Tuesday, June 25th. Finally, Wells Fargo & Company lowered their price objective on shares of Plug Power from $4.00 to $3.00 and set an “equal weight” rating on the stock in a report on Friday. August 9. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $5.19, according to MarketBeat.

Get the latest research report on PLUG

Plug Power Price Performance

The company’s fifty-day simple moving average is $2.45, and its 200-day simple moving average is $2.98. The firm has a market cap of $1.94 billion, a P/E ratio of -0.92 and a beta of 1.81. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.91, and a current ratio of 2.07.

Plug Power (NASDAQ:PLUG – Get Your Free Report ) last issued its quarterly earnings data on Thursday, August 8th. The electronics maker reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.06). The firm had revenue of $143.40 million for the quarter, compared to analysts’ expectations of $184.54 million. Plug Power had a negative return on equity of 47.51% and a negative net margin of 216.80%. The company’s revenue fell 44.9% year over year. During the same period last year, the company earned ($0.35) earnings per share. As a group, analysts estimate that Plug Power Inc. will record -1.15 profit per share for the current year.

Hedge funds weigh the power at the plug

Several institutional investors have recently bought and sold shares of the business. Norges Bank bought a new stake in shares of Plug Power in the 4th quarter valued at about $97,800,000. Swedbank AB purchased a new position in Plug Power in the first quarter valued at about $10,687,000. SG Americas Securities LLC boosted its stake 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 acquiring an additional 1,407,858 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in Plug Power during the fourth quarter valued at about $5,133,000. Finally, Pinnacle Associates Ltd. raised its position 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 valued at $12,989,000 after purchasing an additional 1,105,813 shares during the period. Institutional investors own 43.48% of the company’s shares.

Plug Power Company Profile

(Get a free report)

Plug Power Inc develops hydrogen and fuel cell product solutions in North America, Europe, Asia and internationally. The company offers GenDrive, a hydrogen-powered proton exchange membrane (PEM) fuel cell system that provides power for electric material handling vehicles; GenSure, a stationary fuel cell solution that provides modular PEM fuel cell power to support backup power and grid support requirements in the telecom, transportation and utility sectors; ProGen, a fuel cell stack and motor technology used in fuel cell mobility and stationary systems and as motors in electric delivery vans; GenFuel, a liquid hydrogen fuel delivery, generation, storage and distribution system; GenCare, an Internet of Things-based on-site maintenance and service program for GenDrive fuel cell systems, GenSure fuel cell systems, GenFuel hydrogen storage and distribution products and ProGen fuel cell engines; and GenKey, an integrated turnkey solution for switching to fuel cell power.

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