Plug Power (NASDAQ:PLUG) Shares Gap Up to $2.89

Plug Power Inc. (NASDAQ:PLUG - Get Free Report) shares gapped up prior to trading on Tuesday . The stock had previously closed at $2.89, but opened at $4.89. Plug Power shares last traded at $4.21, with a volume of 77,994,341 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on PLUG shares. Roth Capital upgraded Plug Power from a "neutral" rating to a "buy" rating in a research report on Wednesday, January 31st. TD Cowen lowered their target price on shares of Plug Power from $7.00 to $5.00 and set a "buy" rating on the stock in a research report on Friday. Citigroup downgraded shares of Plug Power from a "neutral" rating to a "sell" rating and reduced their price target for the company from $3.25 to $2.00 in a research report on Friday, April 5th. HC Wainwright reaffirmed a "buy" rating and issued a $18.00 price objective on shares of Plug Power in a research note on Tuesday. Finally, B. Riley decreased their price objective on shares of Plug Power from $18.00 to $8.00 and set a "buy" rating on the stock in a research report on Wednesday, January 24th. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, Plug Power currently has an average rating of "Hold" and a consensus price target of $5.49.

Plug Power Trading Up 19.0 %

The company has a current ratio of 1.94, a quick ratio of 0.87 and a debt-to-equity ratio of 0.17. The business has a 50 day simple moving average of $3.04 and a two-hundred day simple moving average of $3.79. The stock has a market cap of $2.55 billion, a price-to-earnings ratio of -1.55 and a beta of 1.64.

Plug Power (NASDAQ:PLUG - Get Free Report) last released its quarterly earnings results on Friday, March 1st. The electronics maker reported ($1.08) earnings per share for the quarter, missing analysts' consensus estimates of ($0.56) by ($0.52). Plug Power had a negative return on equity of 43.10% and a negative net margin of 181.96%. The company had revenue of $222.20 million for the quarter, compared to analyst estimates of $234.21 million. During the same period in the previous year, the business posted ($0.38) EPS. The firm's quarterly revenue was up .7% compared to the same quarter last year. As a group, equities analysts anticipate that Plug Power Inc. will post -0.94 EPS for the current year.

Insider Transactions at Plug Power

In other Plug Power news, Director George C. Mcnamee sold 10,000 shares of the company's stock in a transaction that occurred on 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 owns 639,572 shares in the company, valued at $1,637,304.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.60% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PLUG. Pitcairn Co. raised its stake in Plug Power by 27.1% during the first quarter. Pitcairn Co. now owns 19,561 shares of the electronics maker's stock worth $67,000 after acquiring an additional 4,169 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Plug Power by 22.8% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,545,042 shares of the electronics maker's stock worth $5,315,000 after purchasing an additional 286,390 shares during the last quarter. Vanguard Group Inc. boosted its position in Plug Power by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 54,986,479 shares of the electronics maker's stock valued at $189,153,000 after purchasing an additional 999,194 shares during the period. HBK Sorce Advisory LLC bought a new position in Plug Power during the 1st quarter worth $37,000. Finally, State Board of Administration of Florida Retirement System increased its position in Plug Power by 5.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 600,188 shares of the electronics maker's stock worth $2,065,000 after buying an additional 33,311 shares during the period. 43.48% of the stock is currently owned by 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.