Plug Power Inc. (NASDAQ:PLUG - Get Free Report) was down 8.5% on Tuesday . The company traded as low as $1.79 and last traded at $1.82. Approximately 35,896,563 shares traded hands during mid-day trading, a decline of 12% from the average daily volume of 40,634,707 shares. The stock had previously closed at $1.99.
Wall Street Analyst Weigh In
PLUG has been the subject of a number of analyst reports. Craig Hallum reduced their target price on shares of Plug Power from $5.00 to $4.00 and set a "buy" rating for the company in a research note on Friday, August 9th. Royal Bank of Canada dropped their price target on shares of Plug Power from $3.50 to $2.50 and set a "sector perform" rating on the stock in a research report on Monday, August 12th. Canaccord Genuity Group dropped their price objective on Plug Power from $3.00 to $2.50 and set a "hold" rating on the stock in a research note on Monday, August 12th. Jefferies Financial Group lowered their target price on Plug Power from $2.20 to $2.00 and set a "hold" rating on the stock in a report on Thursday, October 3rd. Finally, Susquehanna reduced their price objective on Plug Power from $3.00 to $2.00 and set a "neutral" rating for the company in a research report on Monday, August 12th. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $4.86.
View Our Latest Stock Report on Plug Power
Plug Power Stock Performance
The company has a debt-to-equity ratio of 0.16, a current ratio of 2.07 and a quick ratio of 0.91. The firm has a market capitalization of $1.68 billion, a PE ratio of -0.77 and a beta of 1.81. The company's fifty day simple moving average is $2.06 and its 200 day simple moving average is $2.42.
Institutional Trading of Plug Power
A number of hedge funds have recently made changes to their positions in PLUG. Vontobel Holding Ltd. raised its stake in shares of Plug Power by 44.3% during the third quarter. Vontobel Holding Ltd. now owns 3,426,354 shares of the electronics maker's stock valued at $7,744,000 after acquiring an additional 1,051,400 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in Plug Power by 5.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 600,188 shares of the electronics maker's stock worth $2,065,000 after buying an additional 33,311 shares during the period. Gabelli Funds LLC boosted its position in Plug Power by 42.9% during the 1st quarter. Gabelli Funds LLC now owns 250,000 shares of the electronics maker's stock valued at $860,000 after acquiring an additional 75,000 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Plug Power by 25.9% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,945,162 shares of the electronics maker's stock worth $4,532,000 after acquiring an additional 400,120 shares during the period. Finally, Diversified Trust Co bought a new position in shares of Plug Power in the 2nd quarter worth approximately $35,000. 43.48% of the stock is owned by 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.
Read More
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Plug Power, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Plug Power wasn't on the list.
While Plug Power currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Options trading isn’t just for the Wall Street elite; it’s an accessible strategy for anyone armed with the proper knowledge. Think of options as a strategic toolkit, with each tool designed for a specific financial task. Keep reading to learn how options trading can help you use the market’s volatility to your advantage.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
