Plug Power (NASDAQ:PLUG) Shares Up 0.2% – What’s Next?

Plug Power Inc. (NASDAQ:PLUG)’s stock price rose 0.2% on Wednesday . The stock traded as high as $2.27 and last traded at $2.21. Approximately 13,075,478 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 77,612,773 shares. The stock had previously closed at $2.20.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on PLUG shares. Craig Hallum decreased their price target on shares of Plug Power from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. Canaccord Genuity Group cut their target price 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. Susquehanna lifted their target price on shares of Plug Power from $2.00 to $2.50 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. Jefferies Financial Group reduced their price target on shares of Plug Power from $2.20 to $2.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Finally, StockNews.com raised Plug Power to a “sell” rating in a research report on Wednesday. Five investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $4.55.

Plug Power Trading Down 0.5 %

The company has a 50 day moving average price of $2.36 and a two-hundred day moving average price of $2.25. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of -0.97 and a beta of 1.79. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 2.08.

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

Hedge Funds Weigh In On Plug Power

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Pacific Sage Partners LLC acquired a new position in Plug Power during the 4th quarter worth approximately $25,000. Profund Advisors LLC purchased a new position in shares of Plug Power in the 2nd quarter valued at $29,000. Prio Wealth Limited Partnership purchased a new position in shares of Plug Power during the third quarter worth about $29,000. Catalyst Capital Advisors LLC lifted its holdings in shares of Plug Power by 79.9% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 12,681 shares of the electronics maker’s stock valued at $29,000 after purchasing an additional 5,631 shares during the last quarter. Finally, Millburn Ridgefield Corp grew its position in shares of Plug Power by 79.9% during the third quarter. Millburn Ridgefield Corp now owns 12,681 shares of the electronics maker’s stock worth $29,000 after acquiring an additional 5,631 shares during the last quarter. 43.48% of the stock is currently owned by hedge funds and other 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.