Plug Power Inc. (NASDAQ:PLUG – Get Free Report)’s stock price rose 0.3% during mid-day trading on Thursday . The stock traded as high as $3.51 and last traded at $3.44. Approximately 8,336,218 shares traded hands during trading, a decline of 81% from the average daily volume of 44,740,172 shares. The stock had previously closed at $3.43.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on PLUG shares. Seaport Res Ptn lowered shares of Plug Power from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 6th. Roth Mkm upgraded shares of Plug Power from a “neutral” rating to a “buy” rating and raised their price target for the company from $4.50 to $9.00 in a research note on Wednesday, January 31st. Canaccord Genuity Group dropped their price target on shares of Plug Power from $5.00 to $4.00 and set a “hold” rating on the stock in a research report on Monday, March 4th. Susquehanna cut their price objective on shares of Plug Power from $4.50 to $3.50 and set a “neutral” rating on the stock in a report on Wednesday, January 24th. Finally, Redburn Atlantic began coverage on shares of Plug Power in a report on Tuesday, February 6th. They set a “neutral” rating and a $4.50 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $6.20.
Plug Power Stock Performance
The company has a current ratio of 1.85, a quick ratio of 0.86 and a debt-to-equity ratio of 0.18. The company’s 50-day simple moving average is $3.68 and its 200-day simple moving average is $4.84. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of -1.50 and a beta of 1.56.
Plug Power (NASDAQ:PLUG – Get Free Report) last released its quarterly earnings data on Friday, March 1st. The electronics maker reported ($1.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.52). Plug Power had a negative net margin of 153.57% and a negative return on equity of 38.09%. The business had revenue of $222.20 million during the quarter, compared to the consensus estimate of $234.21 million. During the same period last year, the business posted ($0.38) earnings per share. The firm’s quarterly revenue was up .7% on a year-over-year basis. On average, analysts expect that Plug Power Inc. will post -0.97 EPS for the current year.
Institutional Investors Weigh In On Plug Power
Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of Plug Power by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 53,987,285 shares of the electronics maker’s stock worth $242,943,000 after purchasing an additional 283,376 shares during the period. BlackRock Inc. raised its position in shares of Plug Power by 3.0% during the first quarter. BlackRock Inc. now owns 52,381,858 shares of the electronics maker’s stock valued at $613,915,000 after buying an additional 1,534,756 shares during the last quarter. Morgan Stanley increased its position in Plug Power by 87.2% in the third quarter. Morgan Stanley now owns 22,285,344 shares of the electronics maker’s stock worth $169,369,000 after purchasing an additional 10,378,912 shares during the last quarter. Norges Bank bought a new position in Plug Power during the fourth quarter valued at $97,800,000. Finally, State Street Corp boosted its stake in shares of Plug Power by 4.7% during the second quarter. State Street Corp now owns 16,121,043 shares of the electronics maker’s stock valued at $167,498,000 after purchasing an additional 718,729 shares during the period. 43.48% of the stock is currently owned by institutional investors.
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.