Plug Power Inc. (NASDAQ:PLUG - Get Free Report) shares traded down 10.9% during mid-day trading on Monday . The stock traded as low as $2.40 and last traded at $2.44. 95,612,151 shares were traded during trading, an increase of 81% from the average session volume of 52,883,840 shares. The stock had previously closed at $2.74.
Analyst Ratings Changes
A number of research analysts recently commented on PLUG shares. Canaccord Genuity Group lowered their price target on shares of Plug Power from $2.50 to $2.25 and set a "hold" rating for the company in a report on Wednesday, November 13th. BTIG Research downgraded shares of Plug Power from a "buy" rating to a "neutral" rating in a research note on Thursday, November 14th. Piper Sandler cut their price target on Plug Power from $1.60 to $1.40 and set an "underweight" rating on the stock in a research note on Thursday, November 14th. Craig Hallum reduced their price objective 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. Finally, Wells Fargo & Company decreased their price target on shares of Plug Power from $3.00 to $2.00 and set an "equal weight" rating for the company in a research report on Thursday, November 14th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Plug Power presently has an average rating of "Hold" and an average price target of $4.55.
Read Our Latest Report on Plug Power
Plug Power Stock Performance
The stock's 50-day moving average is $2.35 and its 200-day moving average is $2.25. 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 stock has a market cap of $2.22 billion, a price-to-earnings ratio of -1.14 and a beta of 1.79.
Plug Power (NASDAQ:PLUG - Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.01). The firm had revenue of $173.70 million for the quarter, compared to analysts' expectations of $207.25 million. Plug Power had a negative net margin of 214.05% and a negative return on equity of 46.99%. The company's revenue for the quarter was down 12.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.47) EPS. On average, analysts expect that Plug Power Inc. will post -1.2 EPS for the current year.
Institutional Investors Weigh In On Plug Power
A number of institutional investors have recently made changes to their positions in the company. Nations Financial Group Inc. IA ADV lifted its position in shares of Plug Power by 42.3% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 15,798 shares of the electronics maker's stock worth $36,000 after buying an additional 4,700 shares during the last quarter. Arkadios Wealth Advisors raised its stake in Plug Power by 18.2% during the third quarter. Arkadios Wealth Advisors now owns 33,020 shares of the electronics maker's stock worth $75,000 after acquiring an additional 5,075 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Plug Power by 0.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 803,881 shares of the electronics maker's stock valued at $1,817,000 after acquiring an additional 5,485 shares during the period. Catalyst Capital Advisors LLC grew its holdings in shares of Plug Power by 79.9% during the third 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 raised its position in shares of Plug Power by 79.9% during the 3rd quarter. Millburn Ridgefield Corp now owns 12,681 shares of the electronics maker's stock worth $29,000 after purchasing an additional 5,631 shares during the period. 43.48% of the stock is currently owned by institutional investors.
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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