Plug Power Inc. (NASDAQ:PLUG - Get Free Report) shares were up 2.6% during mid-day trading on Monday . The stock traded as high as $2.02 and last traded at $1.99. Approximately 9,482,204 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 39,244,727 shares. The stock had previously closed at $1.94.
Wall Street Analyst Weigh In
PLUG has been the subject of several analyst reports. Piper Sandler decreased their price target on shares of Plug Power from $2.50 to $2.40 and set an "underweight" rating for the company in a research report on Monday, July 22nd. Canaccord Genuity Group cut their price objective on shares of Plug Power from $3.00 to $2.50 and set a "hold" rating on the stock in a report on Monday, August 12th. Truist Financial decreased their price target on shares of Plug Power from $3.00 to $2.00 and set a "hold" rating for the company in a report on Monday, August 12th. Craig Hallum cut their target price on Plug Power from $5.00 to $4.00 and set a "buy" rating on the stock in a research report on Friday, August 9th. Finally, Royal Bank of Canada reduced their target price on Plug Power from $3.50 to $2.50 and set a "sector perform" rating for the company in a research note on Monday, August 12th. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Plug Power presently has an average rating of "Hold" and an average target price of $5.19.
Check Out Our Latest Report on PLUG
Plug Power Trading Up 3.1 %
The stock has a market cap of $1.49 billion, a PE ratio of -0.83 and a beta of 1.79. The company has a 50 day moving average of $2.16 and a two-hundred day moving average of $2.67. 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 Free Report) last issued its quarterly earnings results on Thursday, August 8th. The electronics maker reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.06). Plug Power had a negative return on equity of 47.51% and a negative net margin of 216.80%. The company had revenue of $143.40 million during the quarter, compared to analysts' expectations of $184.54 million. During the same period in the previous year, the firm posted ($0.35) EPS. Plug Power's revenue was down 44.9% compared to the same quarter last year. Sell-side analysts anticipate that Plug Power Inc. will post -1.15 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Plug Power
Several institutional investors have recently bought and sold shares of the company. SteelPeak Wealth LLC acquired a new position in Plug Power during the second quarter worth about $26,000. Nations Financial Group Inc. IA ADV purchased a new position in Plug Power during the second quarter worth approximately $26,000. Aire Advisors LLC acquired a new position in Plug Power during the second quarter worth $28,000. Madison Park Capital Advisors LLC purchased a new stake in Plug Power in the 2nd quarter valued at $29,000. Finally, Profund Advisors LLC acquired a new stake in shares of Plug Power in the 2nd quarter worth $29,000. 43.48% of the stock is currently owned by institutional investors and hedge funds.
Plug Power Company Profile
(
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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