Plug Power (NASDAQ:PLUG) Shares Gap Down to $2.71

Shares of Plug Power Inc. (NASDAQ:PLUG - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $2.71, but opened at $2.65. Plug Power shares last traded at $2.69, with a volume of 2,098,482 shares.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on PLUG shares. Truist Financial raised their price target on shares of Plug Power from $3.00 to $4.00 and gave the stock a "hold" rating in a research report on Wednesday, February 28th. Evercore ISI dropped their target price on shares of Plug Power from $9.00 to $6.00 and set an "outperform" rating for the company in a research report on Monday, March 4th. Craig Hallum reduced their price target on shares of Plug Power from $6.00 to $5.00 and set a "buy" rating on the stock in a research report on Monday, March 4th. Canaccord Genuity Group lowered their price objective on Plug Power from $5.00 to $4.00 and set a "hold" rating for the company in a report on Monday, March 4th. Finally, Redburn Atlantic started coverage on Plug Power in a research note on Tuesday, February 6th. They set a "neutral" rating and a $4.50 price objective on the stock. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $6.05.

Plug Power Trading Down 5.2 %

The firm's 50-day simple moving average is $3.42 and its 200 day simple moving average is $4.30. The stock has a market cap of $1.76 billion, a P/E ratio of -1.12 and a beta of 1.54. The company has a current ratio of 1.85, a quick ratio of 0.86 and a debt-to-equity ratio of 0.18.

Plug Power (NASDAQ:PLUG - Get Free Report) last issued its quarterly earnings data on Friday, March 1st. The electronics maker reported ($1.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($0.52). Plug Power had a negative return on equity of 38.09% and a negative net margin of 153.57%. The business had revenue of $222.20 million for the quarter, compared to analyst estimates of $234.21 million. During the same quarter in the prior year, the firm posted ($0.38) earnings per share. The business's quarterly revenue was up .7% on a year-over-year basis. As a group, equities research analysts anticipate that Plug Power Inc. will post -0.95 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. First Trust Direct Indexing L.P. bought a new position in Plug Power in the 1st quarter valued at about $75,000. Congress Park Capital LLC boosted its holdings in shares of Plug Power by 106.1% in the first quarter. Congress Park Capital LLC now owns 38,850 shares of the electronics maker's stock valued at $134,000 after acquiring an additional 20,000 shares in the last quarter. Bouvel Investment Partners LLC increased its stake in shares of Plug Power by 80.4% during the first quarter. Bouvel Investment Partners LLC now owns 365,054 shares of the electronics maker's stock valued at $1,256,000 after acquiring an additional 162,692 shares during the period. Mosley Wealth Management bought a new stake in Plug Power during the first quarter worth approximately $35,000. Finally, Ballentine Partners LLC acquired a new stake in Plug Power in the first quarter worth approximately $79,000. 43.48% of the stock is owned by institutional investors and hedge funds.

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.