Plug Power Inc. (NASDAQ:PLUG - Get Free Report) dropped 2% during mid-day trading on Wednesday . The stock traded as low as $2.38 and last traded at $2.41. Approximately 11,588,010 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 43,190,504 shares. The stock had previously closed at $2.46.
Analyst Ratings Changes
A number of analysts have recently commented on the company. 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 report on Wednesday, November 13th. Craig Hallum reduced their price objective on Plug Power from $4.00 to $3.00 and set a "buy" rating for the company in a research note on Thursday, November 14th. Jefferies Financial Group lowered their target price on shares of Plug Power from $2.20 to $2.00 and set a "hold" rating on the stock in a research report on Thursday, October 3rd. Evercore ISI decreased their price target on shares of Plug Power from $5.00 to $4.00 and set an "outperform" rating for the company in a research note on Wednesday, November 13th. Finally, Piper Sandler dropped their price objective on shares of Plug Power from $1.60 to $1.40 and set an "underweight" rating on the stock in a research note on Thursday, November 14th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $4.52.
View Our Latest Stock Report on PLUG
Plug Power Price Performance
The firm has a market cap of $2.02 billion, a PE ratio of -1.04 and a beta of 1.76. The company has a 50 day moving average price of $2.16 and a 200 day moving average price of $2.28. The company has a current ratio of 2.08, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15.
Plug Power (NASDAQ:PLUG - Get Free Report) last announced 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 net margin of 214.05% and a negative return on equity of 46.99%. The firm had revenue of $173.70 million during the quarter, compared to analysts' expectations of $207.25 million. During the same quarter in the prior year, the business earned ($0.47) EPS. The company's quarterly revenue was down 12.6% compared to the same quarter last year. On average, sell-side analysts expect that Plug Power Inc. will post -1.2 EPS for the current year.
Institutional Trading of Plug Power
Hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC increased its stake in Plug Power by 23.6% in the third quarter. Geode Capital Management LLC now owns 19,194,629 shares of the electronics maker's stock valued at $43,388,000 after purchasing an additional 3,662,456 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Plug Power by 25.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,637,039 shares of the electronics maker's stock worth $15,000,000 after purchasing an additional 1,354,500 shares during the period. Vontobel Holding Ltd. raised its stake in Plug Power by 44.3% during the third quarter. Vontobel Holding Ltd. now owns 3,426,354 shares of the electronics maker's stock worth $7,744,000 after purchasing an additional 1,051,400 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Plug Power by 69.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,530,346 shares of the electronics maker's stock valued at $5,896,000 after purchasing an additional 1,036,777 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Plug Power during the 3rd quarter worth $2,174,000. Institutional investors and hedge funds 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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