Plug Power Inc. (NASDAQ:PLUG - Get Free Report) traded up 6.6% during trading on Friday . The company traded as high as $2.28 and last traded at $2.27. 30,014,393 shares were traded during trading, a decline of 28% from the average session volume of 41,782,125 shares. The stock had previously closed at $2.13.
Analysts Set New Price Targets
Several research firms have recently weighed in on PLUG. Susquehanna cut their price target on Plug Power from $3.00 to $2.00 and set a "neutral" rating for the company in a research note on Monday, August 12th. Evercore ISI cut their target price on shares of Plug Power from $5.00 to $4.00 and set an "outperform" rating for the company in a research report on Wednesday, November 13th. Truist Financial lowered their price target on shares of Plug Power from $3.00 to $2.00 and set a "hold" rating on the stock in a research report on Monday, August 12th. Jefferies Financial Group cut their price objective on shares of Plug Power from $2.20 to $2.00 and set a "hold" rating for the company in a report on Thursday, October 3rd. Finally, Craig Hallum reduced their price objective on shares of Plug Power from $4.00 to $3.00 and set a "buy" rating for the company in a research note on Thursday, November 14th. 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 given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $4.52.
Check Out Our Latest Research Report on Plug Power
Plug Power Trading Up 5.2 %
The stock's 50 day simple moving average is $2.09 and its 200 day simple moving average is $2.37. The firm has a market cap of $2.04 billion, a PE ratio of -1.00 and a beta of 1.81. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 2.08.
Plug Power (NASDAQ:PLUG - Get Free Report) last announced its earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share (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 company had revenue of $173.70 million during the quarter, compared to analysts' expectations of $207.25 million. During the same quarter last year, the firm posted ($0.47) earnings per share. The firm's revenue was down 12.6% on a year-over-year basis. On average, sell-side analysts forecast 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 large investors have recently modified their holdings of PLUG. SteelPeak Wealth LLC bought a new stake in Plug Power in the second quarter worth $26,000. Nations Financial Group Inc. IA ADV purchased a new position in shares of Plug Power in the second quarter worth about $26,000. Aire Advisors LLC bought a new stake in shares of Plug Power in the 2nd quarter valued at about $28,000. Madison Park Capital Advisors LLC purchased a new stake in Plug Power during the 2nd quarter valued at about $29,000. Finally, Profund Advisors LLC bought a new position in Plug Power during the 2nd quarter worth approximately $29,000. 43.48% of the stock is owned by hedge funds and other 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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