Plug Power (NASDAQ:PLUG) Trading Down 0.8% - What's Next?

Shares of Plug Power Inc. (NASDAQ:PLUG - Get Free Report) traded down 0.8% during mid-day trading on Thursday . The company traded as low as $1.87 and last traded at $1.87. 16,937,376 shares were traded during trading, a decline of 78% from the average session volume of 77,469,898 shares. The stock had previously closed at $1.88.

Analyst Ratings Changes

A number of analysts have recently commented on PLUG shares. Craig Hallum cut their price target on Plug Power from $4.00 to $3.00 and set a "buy" rating on the stock in a report on Thursday, November 14th. Wells Fargo & Company cut their target price on Plug Power from $3.00 to $2.00 and set an "equal weight" rating on the stock in a research note on Thursday, November 14th. BTIG Research cut shares of Plug Power from a "buy" rating to a "neutral" rating in a research note on Thursday, November 14th. Piper Sandler cut their price objective on shares of Plug Power from $1.60 to $1.40 and set an "underweight" rating on the stock in a research report on Thursday, November 14th. Finally, Jefferies Financial Group decreased their target price on shares of Plug Power from $2.20 to $2.00 and set a "hold" rating for the company in a research report on Thursday, October 3rd. Five investment analysts have rated the stock with a sell rating, ten have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $4.46.

Plug Power Trading Up 2.1 %

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 stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of -0.90 and a beta of 1.79. The business has a fifty day simple moving average of $2.36 and a 200 day simple moving average of $2.22.

Plug Power (NASDAQ:PLUG - Get Free Report) last released 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). The business had revenue of $173.70 million during the quarter, compared to analyst estimates of $207.25 million. Plug Power had a negative net margin of 214.05% and a negative return on equity of 46.99%. The company's revenue was down 12.6% on a year-over-year basis. During the same quarter last year, the company posted ($0.47) earnings per share. As a group, research analysts expect that Plug Power Inc. will post -1.2 EPS for the current year.

Institutional Investors Weigh In On Plug Power

Institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its holdings in Plug Power by 20.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,109,530 shares of the electronics maker's stock valued at $2,588,000 after acquiring an additional 187,205 shares in the last quarter. Xponance Inc. raised its stake in Plug Power by 118.4% in the second quarter. Xponance Inc. now owns 40,035 shares of the electronics maker's stock valued at $93,000 after purchasing an additional 21,707 shares in the last quarter. Marshall Wace LLP lifted its position in Plug Power by 80.0% during the second quarter. Marshall Wace LLP now owns 24,492 shares of the electronics maker's stock worth $57,000 after purchasing an additional 10,882 shares during the period. The Manufacturers Life Insurance Company grew its stake in Plug Power by 144.4% during the second quarter. The Manufacturers Life Insurance Company now owns 382,186 shares of the electronics maker's stock worth $890,000 after buying an additional 225,834 shares in the last quarter. Finally, Algert Global LLC bought a new position in Plug Power in the 2nd quarter valued at about $152,000. 43.48% of the stock is currently owned by institutional investors.

Plug Power Company Profile

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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