Shares of Plug Power Inc. (NASDAQ:PLUG - Get Free Report) shot up 3.4% on Wednesday . The company traded as high as $2.92 and last traded at $2.75. 33,647,093 shares traded hands during mid-day trading, a decline of 57% from the average session volume of 77,443,867 shares. The stock had previously closed at $2.66.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on the stock. Canaccord Genuity Group reduced their target price on shares of Plug Power from $2.50 to $2.25 and set a "hold" rating on the stock in a report on Wednesday, November 13th. HC Wainwright reiterated a "buy" rating and issued a $18.00 price objective on shares of Plug Power in a research note on Wednesday, November 13th. Jefferies Financial Group decreased their target price on Plug Power from $2.20 to $2.00 and set a "hold" rating for the company in a report on Thursday, October 3rd. Evercore ISI cut their price target on Plug Power from $5.00 to $4.00 and set an "outperform" rating on the stock in a report on Wednesday, November 13th. Finally, Piper Sandler decreased their price objective on Plug Power from $1.60 to $1.40 and set an "underweight" rating for the company in a research note on Thursday, November 14th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $4.52.
Read Our Latest Stock Report on Plug Power
Plug Power Trading Up 1.9 %
The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15. The business's fifty day moving average is $2.30 and its 200 day moving average is $2.24. The stock has a market cap of $2.47 billion, a PE ratio of -1.27 and a beta of 1.79.
Plug Power (NASDAQ:PLUG - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) EPS 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 analysts' expectations of $207.25 million. During the same period last year, the firm earned ($0.47) EPS. Plug Power's revenue was down 12.6% compared to the same quarter last year. As a group, analysts predict that Plug Power Inc. will post -1.2 earnings per share for the current year.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the company. Arkadios Wealth Advisors grew its stake in Plug Power by 88.0% in the 4th quarter. Arkadios Wealth Advisors now owns 62,082 shares of the electronics maker's stock valued at $132,000 after acquiring an additional 29,062 shares during the last quarter. Kieckhefer Group LLC acquired a new position in Plug Power during the fourth quarter worth about $138,000. Sanctuary Advisors LLC purchased a new stake in shares of Plug Power in the third quarter valued at about $206,000. Arete Wealth Advisors LLC grew its position in shares of Plug Power by 575.8% in the third 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. Finally, Geode Capital Management LLC increased its stake in shares of Plug Power by 23.6% during the 3rd quarter. Geode Capital Management LLC now owns 19,194,629 shares of the electronics maker's stock worth $43,388,000 after purchasing an additional 3,662,456 shares in the last quarter. Hedge funds and other 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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