Plug Power (NASDAQ:PLUG) Trading Up 2.1%

Plug Power Inc. (NASDAQ:PLUGGet Free Report) was up 2.1% during mid-day trading on Wednesday . The stock traded as high as $3.17 and last traded at $2.98. Approximately 15,068,907 shares changed hands during trading, a decline of 62% from the average daily volume of 40,125,551 shares. The stock had previously closed at $2.92.

Analyst Ratings Changes

Several analysts recently issued reports on PLUG shares. Morgan Stanley dropped their price objective on shares of Plug Power from $3.00 to $2.50 and set an “underweight” rating for the company in a research note on Friday, May 10th. Marathon Capitl reaffirmed an “equal weight” rating on shares of Plug Power in a research note on Tuesday, March 26th. Piper Sandler dropped their price objective on shares of Plug Power from $2.90 to $2.50 and set an “underweight” rating for the company in a research note on Friday, May 10th. Evercore ISI dropped their price target on shares of Plug Power from $9.00 to $6.00 and set an “outperform” rating for the company in a research note on Monday, March 4th. Finally, Citigroup cut shares of Plug Power from a “neutral” rating to a “sell” rating and dropped their price target for the company from $3.25 to $2.00 in a research note on Friday, April 5th. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $5.49.

View Our Latest Stock Analysis on Plug Power

Plug Power Stock Performance

The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of -1.13 and a beta of 1.77. The company has a current ratio of 1.94, a quick ratio of 0.87 and a debt-to-equity ratio of 0.17. The stock’s fifty day simple moving average is $2.91 and its 200-day simple moving average is $3.53.

Plug Power (NASDAQ:PLUGGet Free Report) last released its earnings results on Thursday, May 9th. The electronics maker reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.11). The business had revenue of $120.26 million for the quarter, compared to analyst estimates of $162.92 million. Plug Power had a negative return on equity of 43.10% and a negative net margin of 181.96%. Analysts predict that Plug Power Inc. will post -1.13 EPS for the current year.

Insiders Place Their Bets

In other news, Director George C. Mcnamee sold 10,000 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $2.56, for a total value of $25,600.00. Following the sale, the director now directly owns 639,572 shares in the company, valued at approximately $1,637,304.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Plug Power

Several hedge funds and other institutional investors have recently bought and sold shares of PLUG. Mosley Wealth Management acquired a new stake in Plug Power during the 1st quarter worth $35,000. J.W. Cole Advisors Inc. acquired a new stake in Plug Power during the 1st quarter worth $36,000. HBK Sorce Advisory LLC acquired a new stake in Plug Power during the 1st quarter worth $37,000. FAS Wealth Partners Inc. acquired a new stake in Plug Power during the 4th quarter worth $45,000. Finally, Independent Advisor Alliance purchased a new position in Plug Power during the 4th quarter worth $45,000. 43.48% of the stock is currently owned by institutional investors and hedge funds.

About Plug Power

(Get 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-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.

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