Plug Power Inc. (NASDAQ:PLUG - Get Free Report)'s stock price traded down 3.8% during trading on Tuesday . The stock traded as low as $1.62 and last traded at $1.66. 23,600,079 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 72,023,836 shares. The stock had previously closed at $1.72.
Analyst Ratings Changes
Several equities analysts recently commented on the stock. Susquehanna increased their price objective on shares of Plug Power from $2.00 to $2.50 and gave the company a "neutral" rating in a research note on Thursday, January 16th. Evercore ISI dropped their price objective 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. 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. Craig Hallum dropped 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, HC Wainwright reissued a "buy" rating and issued a $18.00 price objective on shares of Plug Power in a research note on Wednesday, November 13th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Plug Power presently has an average rating of "Hold" and an average price target of $4.12.
View Our Latest Analysis on PLUG
Plug Power Stock Performance
The company has a debt-to-equity ratio of 0.15, a current ratio of 2.08 and a quick ratio of 0.95. The company's 50-day moving average price is $2.28 and its two-hundred day moving average price is $2.15. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of -0.82 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 for the quarter, missing the consensus estimate 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 analyst estimates of $207.25 million. During the same quarter last year, the company earned ($0.47) earnings per share. The company's quarterly revenue was down 12.6% compared to the same quarter last year. On average, equities research analysts anticipate that Plug Power Inc. will post -1.21 EPS for the current fiscal year.
Institutional Investors Weigh In On Plug Power
Several large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Plug Power by 5.4% during the fourth quarter. Vanguard Group Inc. now owns 87,438,503 shares of the electronics maker's stock worth $186,244,000 after buying an additional 4,491,114 shares during the period. Norges Bank acquired a new stake in Plug Power in the fourth quarter worth $146,465,000. Geode Capital Management LLC grew its holdings in Plug Power by 3.8% in the fourth quarter. Geode Capital Management LLC now owns 19,917,268 shares of the electronics maker's stock worth $42,434,000 after purchasing an additional 722,639 shares during the period. Legal & General Group Plc grew its holdings in Plug Power by 8.5% in the fourth quarter. Legal & General Group Plc now owns 10,141,849 shares of the electronics maker's stock worth $21,602,000 after purchasing an additional 796,774 shares during the period. Finally, Northern Trust Corp grew its holdings in Plug Power by 11.1% in the fourth quarter. Northern Trust Corp now owns 7,907,687 shares of the electronics maker's stock worth $16,843,000 after purchasing an additional 790,650 shares during the period. 43.48% of the stock is currently owned by institutional investors and hedge funds.
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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