Plug Power (NASDAQ:PLUG) Shares Gap Up to $2.49

Plug Power Inc. (NASDAQ:PLUG - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $2.49, but opened at $2.59. Plug Power shares last traded at $2.71, with a volume of 9,638,997 shares traded.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Piper Sandler raised their price objective on Plug Power from $2.80 to $2.90 and gave the company an "underweight" rating in a report on Tuesday, March 5th. Redburn Atlantic initiated coverage on shares of Plug Power in a report on Tuesday, February 6th. They set a "neutral" rating and a $4.50 target price on the stock. Roth Mkm raised shares of Plug Power from a "neutral" rating to a "buy" rating and increased their target price for the company from $4.50 to $9.00 in a report on Wednesday, January 31st. Seaport Res Ptn lowered shares of Plug Power from a "buy" rating to a "neutral" rating in a report on Tuesday, February 6th. Finally, Marathon Capitl reaffirmed an "equal weight" rating on shares of Plug Power in a report on Tuesday, March 26th. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $6.05.

Plug Power Price Performance

The firm has a 50-day simple moving average of $3.38 and a 200 day simple moving average of $4.24. The firm has a market cap of $1.77 billion, a PE ratio of -1.18 and a beta of 1.54. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.85 and a quick ratio of 0.86.

Plug Power (NASDAQ:PLUG - Get Free Report) last issued its quarterly earnings results on Friday, March 1st. The electronics maker reported ($1.08) earnings per share for the quarter, missing the consensus estimate of ($0.56) by ($0.52). The company had revenue of $222.20 million for the quarter, compared to the consensus estimate of $234.21 million. Plug Power had a negative net margin of 153.57% and a negative return on equity of 38.09%. Plug Power's revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.38) earnings per share. As a group, equities analysts expect that Plug Power Inc. will post -0.94 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Arkadios Wealth Advisors grew its holdings in shares of Plug Power by 40.0% in the third quarter. Arkadios Wealth Advisors now owns 14,000 shares of the electronics maker's stock worth $106,000 after acquiring an additional 4,000 shares during the period. Newbridge Financial Services Group Inc. raised its holdings in Plug Power by 33.6% in the 3rd quarter. Newbridge Financial Services Group Inc. now owns 11,540 shares of the electronics maker's stock worth $88,000 after purchasing an additional 2,900 shares during the period. Exchange Traded Concepts LLC raised its holdings in Plug Power by 30.3% in the 3rd quarter. Exchange Traded Concepts LLC now owns 6,486 shares of the electronics maker's stock worth $49,000 after purchasing an additional 1,510 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in Plug Power in the 3rd quarter worth $78,000. Finally, DDD Partners LLC raised its holdings in Plug Power by 81.2% in the 3rd quarter. DDD Partners LLC now owns 45,082 shares of the electronics maker's stock worth $334,000 after purchasing an additional 20,196 shares during the period. 43.48% of the stock is owned by hedge funds and other institutional investors.

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.