Plug Power (NASDAQ:PLUG) Trading 3.5% Higher - Here's What Happened

Plug Power Inc. (NASDAQ:PLUG - Get Free Report) rose 3.5% during trading on Monday . The stock traded as high as $1.94 and last traded at $1.93. Approximately 22,064,294 shares were traded during trading, a decline of 71% from the average daily volume of 76,036,719 shares. The stock had previously closed at $1.86.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. HC Wainwright restated a "buy" rating and issued a $18.00 price objective on shares of Plug Power in a research report on Wednesday, November 13th. Piper Sandler decreased their price target 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. Susquehanna lifted their price objective on shares of Plug Power from $2.00 to $2.50 and gave the stock a "neutral" rating in a report on Thursday, January 16th. Canaccord Genuity Group reduced their target price on Plug Power from $2.50 to $2.25 and set a "hold" rating on the stock in a research note on Wednesday, November 13th. Finally, Craig Hallum dropped their price target on Plug Power from $4.00 to $3.00 and set a "buy" rating for the company in a research note on Thursday, November 14th. Five investment analysts have rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Plug Power currently has a consensus rating of "Hold" and an average price target of $4.18.

Plug Power Stock Up 3.2 %

The company has a market capitalization of $1.74 billion, a P/E ratio of -0.89 and a beta of 1.79. The company has a current ratio of 2.08, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. The stock's fifty day moving average is $2.34 and its 200 day moving average is $2.18.

Plug Power (NASDAQ:PLUG - Get Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The electronics maker reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.01). The firm had revenue of $173.70 million for the quarter, compared to the consensus estimate of $207.25 million. Plug Power had a negative net margin of 214.05% and a negative return on equity of 46.99%. The business's revenue was down 12.6% on a year-over-year basis. During the same period last year, the company posted ($0.47) earnings per share. Research analysts predict that Plug Power Inc. will post -1.21 EPS for the current fiscal year.

Institutional Investors Weigh In On Plug Power

Large investors have recently made changes to their positions in the business. Oppenheimer & Co. Inc. purchased a new stake in Plug Power in the fourth quarter worth $25,000. Pacific Sage Partners LLC purchased a new stake in shares of Plug Power in the 4th quarter worth about $25,000. Jones Financial Companies Lllp lifted its position in shares of Plug Power by 107.4% in the 4th quarter. Jones Financial Companies Lllp now owns 11,730 shares of the electronics maker's stock worth $25,000 after purchasing an additional 6,074 shares during the period. Prio Wealth Limited Partnership bought a new stake in shares of Plug Power during the 3rd quarter valued at about $29,000. Finally, Catalyst Capital Advisors LLC raised its stake in Plug Power by 79.9% in the third quarter. Catalyst Capital Advisors LLC now owns 12,681 shares of the electronics maker's stock worth $29,000 after buying an additional 5,631 shares in the last quarter. 43.48% of the stock is currently owned by institutional investors.

About Plug Power

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.