Shares of Plug Power Inc. (NASDAQ:PLUG - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $2.66, but opened at $2.86. Plug Power shares last traded at $2.88, with a volume of 17,330,204 shares traded.
Wall Street Analyst Weigh In
PLUG has been the subject of a number of research analyst reports. Evercore ISI cut their target price on shares of Plug Power from $5.00 to $4.00 and set an "outperform" rating for the company in a research report on Wednesday, November 13th. Jefferies Financial Group cut their target price on shares of Plug Power from $2.20 to $2.00 and set a "hold" rating for the company in a research report on Thursday, October 3rd. Piper Sandler lowered their target price on Plug Power from $1.60 to $1.40 and set an "underweight" rating on the stock in a research report on Thursday, November 14th. HC Wainwright restated a "buy" rating and issued a $18.00 price target on shares of Plug Power in a research report on Wednesday, November 13th. Finally, BTIG Research cut Plug Power from a "buy" rating to a "neutral" rating in a research report on Thursday, November 14th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $4.55.
Check Out Our Latest Stock Report on Plug Power
Plug Power Price Performance
The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 2.08. The firm has a fifty day simple moving average of $2.33 and a two-hundred day simple moving average of $2.25. The firm has a market cap of $2.22 billion, a PE ratio of -1.14 and a beta of 1.79.
Plug Power (NASDAQ:PLUG - Get Free Report) last posted its 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 business had revenue of $173.70 million during the quarter, compared to analysts' expectations of $207.25 million. During the same period last year, the business posted ($0.47) earnings per share. The company's revenue for the quarter was down 12.6% compared to the same quarter last year. Equities analysts predict that Plug Power Inc. will post -1.2 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in PLUG. Nations Financial Group Inc. IA ADV raised its position in Plug Power by 42.3% during the third quarter. Nations Financial Group Inc. IA ADV now owns 15,798 shares of the electronics maker's stock valued at $36,000 after purchasing an additional 4,700 shares during the period. Arkadios Wealth Advisors raised its holdings in Plug Power by 18.2% during the 3rd quarter. Arkadios Wealth Advisors now owns 33,020 shares of the electronics maker's stock valued at $75,000 after buying an additional 5,075 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Plug Power by 0.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 803,881 shares of the electronics maker's stock worth $1,817,000 after buying an additional 5,485 shares during the period. Catalyst Capital Advisors LLC increased its position in 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 acquiring an additional 5,631 shares during the last quarter. Finally, Millburn Ridgefield Corp raised its stake in shares of Plug Power by 79.9% in the third quarter. Millburn Ridgefield Corp now owns 12,681 shares of the electronics maker's stock valued at $29,000 after acquiring an additional 5,631 shares during the period. Institutional investors own 43.48% of the company's stock.
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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