Plug Power (NASDAQ:PLUG) Trading 9.8% Higher

Plug Power Inc. (NASDAQ:PLUG - Get Free Report)'s stock price traded up 9.8% during mid-day trading on Friday . The stock traded as high as $2.75 and last traded at $2.69. 17,037,545 shares traded hands during trading, a decline of 57% from the average session volume of 39,606,098 shares. The stock had previously closed at $2.45.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Truist Financial increased their price objective 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. UBS Group downgraded Plug Power from a "buy" rating to a "neutral" rating and set a $4.75 target price on the stock. in a research note on Tuesday, February 6th. Roth Mkm upgraded Plug Power from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $4.50 to $9.00 in a research note on Wednesday, January 31st. BMO Capital Markets lowered shares of Plug Power from a "market perform" rating to an "underperform" rating and reduced their price target for the company from $3.50 to $2.50 in a research report on Wednesday, January 24th. Finally, Citigroup cut shares of Plug Power from a "neutral" rating to a "sell" rating and dropped their target price for the company from $3.25 to $2.00 in a research note on Friday, April 5th. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $6.05.

Plug Power Price Performance

The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.86 and a current ratio of 1.85. The firm has a market cap of $1.91 billion, a PE ratio of -1.17 and a beta of 1.64. The firm has a fifty day simple moving average of $3.15 and a two-hundred day simple moving average of $4.02.

Plug Power (NASDAQ:PLUG - Get Free Report) last announced its earnings results 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). The business had revenue of $222.20 million for 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 quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.38) earnings per share. Equities analysts predict that Plug Power Inc. will post -0.94 EPS for the current fiscal year.

Hedge Funds Weigh In On Plug Power

A number of large investors have recently made changes to their positions in PLUG. Vanguard Group Inc. raised its holdings in shares of Plug Power by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 53,987,285 shares of the electronics maker's stock worth $242,943,000 after buying an additional 283,376 shares during the period. Norges Bank purchased a new stake in shares of Plug Power during the fourth quarter valued at $97,800,000. Robeco Schweiz AG grew its holdings in shares of Plug Power by 3.9% in the third quarter. Robeco Schweiz AG now owns 6,201,500 shares of the electronics maker's stock worth $47,131,000 after purchasing an additional 235,000 shares during the last quarter. Pinnacle Associates Ltd. increased its stake in Plug Power by 41.4% in the 1st quarter. Pinnacle Associates Ltd. now owns 3,775,808 shares of the electronics maker's stock worth $12,989,000 after buying an additional 1,105,813 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Plug Power by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,374,782 shares of the electronics maker's stock valued at $15,187,000 after buying an additional 102,095 shares in the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.