Plug Power Inc. (NASDAQ:PLUG - Get Free Report) was the recipient of unusually large options trading on Monday. Traders purchased 59,489 call options on the stock. This is an increase of approximately 95% compared to the average daily volume of 30,492 call options.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on PLUG shares. Canaccord Genuity Group decreased their target price on Plug Power from $2.50 to $2.25 and set a "hold" rating for the company in a research report on Wednesday, November 13th. Evercore ISI decreased their target price on Plug Power from $5.00 to $4.00 and set an "outperform" rating for the company in a research report on Wednesday, November 13th. BTIG Research lowered Plug Power from a "buy" rating to a "neutral" rating in a research report on Thursday, November 14th. Royal Bank of Canada reduced their price target on shares of Plug Power from $3.50 to $2.50 and set a "sector perform" rating for the company in a research report on Monday, August 12th. Finally, Craig Hallum reduced their price target on shares of Plug Power from $4.00 to $3.00 and set a "buy" rating for the company in a research report on Thursday, November 14th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $4.52.
Read Our Latest Research Report on Plug Power
Institutional Investors Weigh In On Plug Power
A number of institutional investors have recently added to or reduced their stakes in the stock. SteelPeak Wealth LLC acquired a new stake in Plug Power in the second quarter worth about $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 purchased a new position in shares of Plug Power in the second quarter worth about $28,000. Madison Park Capital Advisors LLC purchased a new position in shares of Plug Power in the second quarter worth about $29,000. Finally, Profund Advisors LLC purchased a new position in shares of Plug Power in the second quarter worth about $29,000. Institutional investors own 43.48% of the company's stock.
Plug Power Trading Up 15.9 %
NASDAQ:PLUG traded up $0.31 during midday trading on Monday, hitting $2.23. 77,216,586 shares of the company traded hands, compared to its average volume of 41,645,137. The firm's fifty day moving average is $2.08 and its 200-day moving average is $2.38. Plug Power has a 12-month low of $1.60 and a 12-month high of $5.14. The firm has a market capitalization of $2.03 billion, a P/E ratio of -0.98 and a beta of 1.81. The company has a current ratio of 2.08, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15.
Plug Power (NASDAQ:PLUG - Get Free Report) last released its earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share for the quarter, missing analysts' consensus estimates 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 business had revenue of $173.70 million during the quarter, compared to analysts' expectations of $207.25 million. During the same quarter in the previous year, the business earned ($0.47) EPS. The business's revenue for the quarter was down 12.6% on a year-over-year basis. On average, sell-side analysts predict that Plug Power will post -1.2 EPS for the current year.
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.
Further Reading
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
Wondering what the next stocks will be that hit it big, with solid fundamentals? Click the link below to learn more about how your portfolio could bloom.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
