Plug Power Inc. (NASDAQ:PLUG - Get Free Report) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $1.57 and last traded at $1.62, with a volume of 9268814 shares trading hands. The stock had previously closed at $1.62.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on PLUG. Canaccord Genuity Group reduced their price target on shares of Plug Power from $2.50 to $2.25 and set a "hold" rating on the stock in a report on Wednesday, November 13th. Craig Hallum reduced their price target on shares of Plug Power from $4.00 to $3.00 and set a "buy" rating on the stock in a report on Thursday, November 14th. StockNews.com upgraded shares of Plug Power to a "sell" rating in a report on Monday, February 10th. Wells Fargo & Company dropped their price objective on shares of Plug Power from $3.00 to $2.00 and set an "equal weight" rating for the company in a research note on Thursday, November 14th. Finally, BTIG Research cut shares of Plug Power from a "buy" rating to a "neutral" rating in a research note on Thursday, November 14th. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Plug Power presently has an average rating of "Hold" and a consensus target price of $4.12.
Check Out Our Latest Analysis on PLUG
Plug Power Stock Performance
The company has a current ratio of 2.08, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. The business's 50 day moving average is $2.28 and its 200 day moving average is $2.15. The stock has a market capitalization of $1.60 billion, a PE ratio of -0.82 and a beta of 1.79.
Plug Power (NASDAQ:PLUG - Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) EPS 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 firm had revenue of $173.70 million for the quarter, compared to analysts' expectations of $207.25 million. During the same period in the prior year, the firm posted ($0.47) earnings per share. Plug Power's revenue for the quarter was down 12.6% on a year-over-year basis. On average, equities research analysts predict that Plug Power Inc. will post -1.21 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Plug Power
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. lifted its holdings in Plug Power by 25.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,637,039 shares of the electronics maker's stock valued at $15,000,000 after buying an additional 1,354,500 shares in the last quarter. XTX Topco Ltd bought a new stake in Plug Power during the 3rd quarter valued at about $2,174,000. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Plug Power by 24.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,421,222 shares of the electronics maker's stock valued at $5,472,000 after buying an additional 476,060 shares in the last quarter. Stifel Financial Corp lifted its holdings in Plug Power by 23.4% during the 3rd quarter. Stifel Financial Corp now owns 1,398,398 shares of the electronics maker's stock valued at $3,160,000 after buying an additional 265,514 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its holdings in Plug Power by 166.4% during the 3rd quarter. MetLife Investment Management LLC now owns 424,297 shares of the electronics maker's stock valued at $959,000 after buying an additional 265,042 shares in the last quarter. Institutional investors own 43.48% of the company's stock.
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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