Plug Power (NASDAQ:PLUG) Trading Down 3.4%

Plug Power Inc. (NASDAQ:PLUGGet Free Report) fell 3.4% on Wednesday . The stock traded as low as $3.03 and last traded at $3.14. 9,905,365 shares were traded during trading, a decline of 77% from the average session volume of 42,498,035 shares. The stock had previously closed at $3.25.

Analyst Ratings Changes

PLUG has been the topic of a number of analyst reports. Roth Mkm upgraded shares of Plug Power from a “neutral” rating to a “buy” rating and upped their target price for the stock from $4.50 to $9.00 in a report on Wednesday, January 31st. Redburn Atlantic initiated coverage on shares of Plug Power in a report on Tuesday, February 6th. They issued a “neutral” rating and a $4.50 target price on the stock. Seaport Res Ptn lowered shares of Plug Power from a “buy” rating to a “neutral” rating in a report on Tuesday, February 6th. Piper Sandler upped their target price on shares of Plug Power from $2.80 to $2.90 and gave the stock an “underweight” rating in a report on Tuesday, March 5th. Finally, Canaccord Genuity Group lowered their target price on shares of Plug Power from $5.00 to $4.00 and set a “hold” rating on the stock in a report on Monday, March 4th. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $6.05.

Get Our Latest Report on PLUG

Plug Power Stock Down 3.6 %

The stock’s 50-day moving average price is $3.62 and its two-hundred day moving average price is $4.49. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.86 and a current ratio of 1.85.

Plug Power (NASDAQ:PLUGGet Free Report) last released its quarterly earnings data on Friday, March 1st. The electronics maker reported ($1.08) EPS for the quarter, missing the consensus estimate of ($0.56) by ($0.52). The business had revenue of $222.20 million during the quarter, compared to the consensus estimate of $234.21 million. Plug Power had a negative return on equity of 38.09% and a negative net margin of 153.57%. The firm’s quarterly revenue was up .7% on a year-over-year basis. During the same period last year, the business posted ($0.38) earnings per share. On average, equities analysts expect that Plug Power Inc. will post -0.95 EPS for the current fiscal year.

Institutional Trading of Plug Power

Several institutional investors and hedge funds have recently bought and sold shares of the company. Natixis Advisors L.P. lifted its stake in Plug Power by 0.9% in the 2nd quarter. Natixis Advisors L.P. now owns 79,424 shares of the electronics maker’s stock worth $1,316,000 after purchasing an additional 723 shares in the last quarter. US Bancorp DE raised its position in Plug Power by 7.9% in the 1st quarter. US Bancorp DE now owns 11,362 shares of the electronics maker’s stock worth $324,000 after purchasing an additional 833 shares during the period. Ethic Inc. raised its position in Plug Power by 8.2% in the 1st quarter. Ethic Inc. now owns 12,098 shares of the electronics maker’s stock worth $346,000 after purchasing an additional 914 shares during the period. Blair William & Co. IL raised its position in Plug Power by 12.6% in the 1st quarter. Blair William & Co. IL now owns 8,328 shares of the electronics maker’s stock worth $238,000 after purchasing an additional 934 shares during the period. Finally, Neuberger Berman Group LLC raised its position in Plug Power by 7.3% in the 1st quarter. Neuberger Berman Group LLC now owns 13,972 shares of the electronics maker’s stock worth $400,000 after purchasing an additional 946 shares during the period. 43.48% of the stock is currently 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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