Plug Power Inc. (NASDAQ:PLUG - Get Free Report)'s stock price fell 3.4% during trading on Tuesday . The stock traded as low as $2.52 and last traded at $2.58. 17,592,507 shares were traded during mid-day trading, a decline of 59% from the average session volume of 43,366,605 shares. The stock had previously closed at $2.67.
Analyst Ratings Changes
A number of brokerages have commented on PLUG. Royal Bank of Canada lowered their target price on Plug Power from $3.50 to $2.50 and set a "sector perform" rating on the stock in a research note on Monday, August 12th. Canaccord Genuity Group dropped their price objective on Plug Power from $2.50 to $2.25 and set a "hold" rating on the stock in a report on Wednesday, November 13th. Piper Sandler reduced their target price on shares of Plug Power from $1.60 to $1.40 and set an "underweight" rating for the company in a research note on Thursday, November 14th. HC Wainwright reissued a "buy" rating and issued a $18.00 target price on shares of Plug Power in a research report on Wednesday, November 13th. Finally, Truist Financial cut their price target on shares of Plug Power from $3.00 to $2.00 and set a "hold" rating on the stock in a report on Monday, August 12th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $4.52.
Read Our Latest Research Report on Plug Power
Plug Power Stock Down 6.4 %
The firm's 50-day simple moving average is $2.12 and its 200-day simple moving average is $2.31. 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 company has a market capitalization of $2.28 billion, a price-to-earnings ratio of -1.21 and a beta of 1.76.
Plug Power (NASDAQ:PLUG - Get Free Report) last released 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). The firm had revenue of $173.70 million for the quarter, compared to analyst estimates of $207.25 million. Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. The firm's quarterly revenue was down 12.6% compared to the same quarter last year. During the same period last year, the business earned ($0.47) earnings per share. Sell-side analysts forecast that Plug Power Inc. will post -1.2 earnings per share for the current year.
Hedge Funds Weigh In On Plug Power
A number of hedge funds and other institutional investors have recently made changes to their positions in PLUG. Cetera Advisors LLC lifted its stake in Plug Power by 33.0% during the first quarter. Cetera Advisors LLC now owns 27,733 shares of the electronics maker's stock worth $95,000 after purchasing an additional 6,885 shares during the period. Diversified Trust Co acquired a new stake in Plug Power in the 2nd quarter valued at $35,000. Baader Bank Aktiengesellschaft grew its position in Plug Power by 1,079.4% in the second quarter. Baader Bank Aktiengesellschaft now owns 117,935 shares of the electronics maker's stock valued at $275,000 after acquiring an additional 107,935 shares during the period. SteelPeak Wealth LLC acquired a new position in Plug Power during the second quarter worth $26,000. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Plug Power by 1,355.5% during the second quarter. Nisa Investment Advisors LLC now owns 96,643 shares of the electronics maker's stock valued at $225,000 after acquiring an additional 90,003 shares during the period. 43.48% of the stock is owned by institutional investors.
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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