Plug Power Inc. (NASDAQ:PLUG - Get Free Report) shares shot up 3.5% during trading on Thursday . The company traded as high as $1.94 and last traded at $1.92. 13,831,626 shares traded hands during trading, a decline of 81% from the average session volume of 73,689,797 shares. The stock had previously closed at $1.85.
Analysts Set New Price Targets
PLUG has been the topic of several research analyst reports. Craig Hallum cut their price objective on Plug Power from $4.00 to $3.00 and set a "buy" rating on the stock in a research report on Thursday, November 14th. HC Wainwright reiterated a "buy" rating and set a $18.00 target price on shares of Plug Power in a research note on Wednesday, November 13th. Wells Fargo & Company reduced their price target on shares of Plug Power from $3.00 to $2.00 and set an "equal weight" rating for the company in a research report on Thursday, November 14th. StockNews.com raised shares of Plug Power to a "sell" rating in a research report on Wednesday, January 22nd. Finally, Susquehanna increased their target price on shares of Plug Power from $2.00 to $2.50 and gave the company a "neutral" rating in a research report on Thursday, January 16th. Five analysts have rated the stock with a sell rating, eight have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $4.12.
Get Our Latest Analysis on Plug Power
Plug Power Trading Down 3.7 %
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 market cap of $1.68 billion, a P/E ratio of -0.86 and a beta of 1.79. The firm has a 50 day simple moving average of $2.33 and a 200 day simple moving average of $2.17.
Plug Power (NASDAQ:PLUG - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $173.70 million during the quarter, compared to the consensus estimate of $207.25 million. During the same quarter last year, the business posted ($0.47) earnings per share. Plug Power's revenue was down 12.6% compared to the same quarter last year. On average, equities research analysts predict that Plug Power Inc. will post -1.21 EPS for the current fiscal year.
Hedge Funds Weigh In On Plug Power
Several hedge funds and other institutional investors have recently added to or reduced their stakes in PLUG. Avantax Planning Partners Inc. boosted its position in shares of Plug Power by 54.0% during the 4th quarter. Avantax Planning Partners Inc. now owns 18,722 shares of the electronics maker's stock valued at $40,000 after acquiring an additional 6,561 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Plug Power by 75.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,407,949 shares of the electronics maker's stock worth $2,999,000 after acquiring an additional 604,068 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Plug Power by 53.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 15,410 shares of the electronics maker's stock valued at $33,000 after purchasing an additional 5,348 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in Plug Power in the fourth quarter worth approximately $38,000. Finally, Callan Family Office LLC bought a new position in Plug Power during the fourth quarter valued at approximately $27,000. 43.48% of the stock is currently owned by hedge funds and other 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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