Plug Power (NASDAQ:PLUG) Trading 0.8% Higher

Plug Power Inc. (NASDAQ:PLUGGet Free Report) shares traded up 0.8% on Monday . The stock traded as high as $2.67 and last traded at $2.61. 8,264,105 shares traded hands during trading, a decline of 79% from the average session volume of 39,344,738 shares. The stock had previously closed at $2.59.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Piper Sandler reduced their target price on Plug Power from $2.90 to $2.50 and set an “underweight” rating for the company in a report on Friday, May 10th. Citigroup lowered Plug Power from a “neutral” rating to a “sell” rating and reduced their target price for the company from $3.25 to $2.00 in a report on Friday, April 5th. HC Wainwright restated a “buy” rating and issued a $18.00 target price on shares of Plug Power in a report on Tuesday, May 14th. Marathon Capitl restated an “equal weight” rating on shares of Plug Power in a report on Tuesday, March 26th. Finally, B. Riley upgraded Plug Power to a “strong-buy” rating in a report on Tuesday, June 25th. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $5.49.

Check Out Our Latest Stock Report on Plug Power

Plug Power Trading Up 4.7 %

The company has a fifty day simple moving average of $2.83 and a two-hundred day simple moving average of $3.30. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.94 and a quick ratio of 0.87. The company has a market capitalization of $2.00 billion, a P/E ratio of -1.07 and a beta of 1.81.

Plug Power (NASDAQ:PLUGGet Free Report) last issued its quarterly earnings results on Thursday, May 9th. The electronics maker reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.11). The business had revenue of $120.26 million during the quarter, compared to analyst estimates of $162.92 million. Plug Power had a negative net margin of 181.96% and a negative return on equity of 43.10%. On average, analysts forecast that Plug Power Inc. will post -1.13 earnings per share for the current fiscal year.

Insider Activity

In related news, Director George C. Mcnamee sold 10,000 shares of Plug Power stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $2.56, for a total transaction of $25,600.00. Following the sale, the director now directly owns 639,572 shares of the company’s stock, valued at $1,637,304.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Plug Power

A number of institutional investors have recently added to or reduced their stakes in PLUG. Mosley Wealth Management acquired a new stake in Plug Power during the first quarter worth about $35,000. J.W. Cole Advisors Inc. acquired a new stake in Plug Power during the first quarter valued at approximately $36,000. HBK Sorce Advisory LLC acquired a new stake in Plug Power during the first quarter valued at approximately $37,000. FAS Wealth Partners Inc. acquired a new stake in Plug Power during the fourth quarter valued at approximately $45,000. Finally, Independent Advisor Alliance acquired a new stake in Plug Power during the fourth quarter valued at approximately $45,000. 43.48% of the stock is owned by institutional investors and hedge funds.

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.

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