Plug Power (NASDAQ:PLUG) Reaches New 12-Month Low at $2.25

Plug Power Inc. (NASDAQ:PLUG - Get Free Report) shares reached a new 52-week low during trading on Thursday . The company traded as low as $2.25 and last traded at $2.33, with a volume of 10975278 shares changing hands. The stock had previously closed at $2.41.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Marathon Capitl reissued an "equal weight" rating on shares of Plug Power in a research report on Tuesday, March 26th. Royal Bank of Canada decreased their target price on Plug Power from $5.00 to $3.50 and set a "sector perform" rating on the stock in a report on Wednesday, January 24th. Redburn Atlantic initiated coverage on Plug Power in a report on Tuesday, February 6th. They set a "neutral" rating and a $4.50 price target on the stock. Piper Sandler raised their price target on Plug Power from $2.80 to $2.90 and gave the company an "underweight" rating in a report on Tuesday, March 5th. Finally, Roth Mkm upgraded Plug Power from a "neutral" rating to a "buy" rating and raised their price objective for the company from $4.50 to $9.00 in a research report on Wednesday, January 31st. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, Plug Power has an average rating of "Hold" and an average price target of $6.05.

Plug Power Stock Down 1.2 %

The company has a debt-to-equity ratio of 0.18, a current ratio of 1.85 and a quick ratio of 0.86. The stock has a market cap of $1.63 billion, a PE ratio of -1.04 and a beta of 1.54. The business has a fifty day moving average of $3.31 and a 200-day moving average of $4.20.

Plug Power (NASDAQ:PLUG - Get Free Report) last announced its quarterly earnings results on Friday, March 1st. The electronics maker reported ($1.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.56) by ($0.52). The firm had revenue of $222.20 million during the quarter, compared to analysts' expectations of $234.21 million. Plug Power had a negative net margin of 153.57% and a negative return on equity of 38.09%. The firm's revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.38) EPS. Equities research analysts anticipate that Plug Power Inc. will post -0.94 earnings per share for the current year.

Institutional Trading of Plug Power

Hedge funds have recently bought and sold shares of the stock. Millburn Ridgefield Corp purchased a new stake in shares of Plug Power during the 3rd quarter valued at $29,000. Mosley Wealth Management purchased a new stake in shares of Plug Power during the 1st quarter valued at $35,000. FAS Wealth Partners Inc. purchased a new stake in shares of Plug Power during the 4th quarter valued at $45,000. Independent Advisor Alliance purchased a new stake in shares of Plug Power during the 4th quarter valued at $45,000. Finally, HighPoint Advisor Group LLC purchased a new stake in shares of Plug Power during the 4th quarter valued at $48,000. Hedge funds and other institutional investors own 43.48% of the company's stock.

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.