Shares of Plug Power Inc. (NASDAQ:PLUG - Get Free Report) traded up 1.9% during trading on Friday . The company traded as high as $1.94 and last traded at $1.93. 11,838,418 shares traded hands during trading, a decline of 71% from the average session volume of 41,334,492 shares. The stock had previously closed at $1.89.
Wall Street Analysts Forecast Growth
PLUG has been the subject of several research analyst reports. BTIG Research lowered Plug Power from a "buy" rating to a "neutral" rating in a research note on Thursday, November 14th. Susquehanna lowered their price objective on Plug Power from $3.00 to $2.00 and set a "neutral" rating for the company in a research report on Monday, August 12th. Piper Sandler cut their target price on shares of Plug Power from $1.60 to $1.40 and set an "underweight" rating on the stock in a report on Thursday, November 14th. Truist Financial lowered their price target on shares of Plug Power from $3.00 to $2.00 and set a "hold" rating for the company in a report on Monday, August 12th. Finally, HC Wainwright reissued a "buy" rating and issued a $18.00 price target on shares of Plug Power in a report on Wednesday, November 13th. 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 given a strong buy rating to the company. According to MarketBeat.com, Plug Power currently has an average rating of "Hold" and an average target price of $4.52.
Get Our Latest Stock Analysis on PLUG
Plug Power Trading Up 2.1 %
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 stock's 50-day moving average is $2.08 and its two-hundred day moving average is $2.39. The company has a market cap of $1.76 billion, a P/E ratio of -0.90 and a beta of 1.81.
Plug Power (NASDAQ:PLUG - Get Free Report) last announced its 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 net margin of 214.05% and a negative return on equity of 46.99%. The business 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 company posted ($0.47) earnings per share. The firm's quarterly revenue was down 12.6% on a year-over-year basis. As a group, equities research analysts predict that Plug Power Inc. will post -1.2 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Plug Power
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PLUG. Arete Wealth Advisors LLC increased its position in shares of Plug Power by 575.8% during the 3rd quarter. Arete Wealth Advisors LLC now owns 147,117 shares of the electronics maker's stock valued at $332,000 after purchasing an additional 125,347 shares during the last quarter. Geode Capital Management LLC increased its position in Plug Power by 23.6% during 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 acquiring an additional 3,662,456 shares during the last quarter. Duff & Phelps Investment Management Co. raised its stake in shares of Plug Power by 31.7% in the third quarter. Duff & Phelps Investment Management Co. now owns 75,160 shares of the electronics maker's stock valued at $170,000 after acquiring an additional 18,110 shares during the period. Main Management ETF Advisors LLC bought a new stake in shares of Plug Power in the 3rd quarter worth about $823,000. Finally, XTX Topco Ltd purchased a new position in shares of Plug Power during the 3rd quarter worth about $2,174,000. 43.48% of the stock is owned by institutional investors.
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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