Plug Power (NASDAQ:PLUG) Shares Down 3.4%

Plug Power Inc. (NASDAQ:PLUG - Get Free Report) fell 3.4% during trading on Wednesday . The company traded as low as $3.03 and last traded at $3.14. 9,905,365 shares were traded during mid-day trading, a decline of 77% from the average session volume of 42,498,035 shares. The stock had previously closed at $3.25.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PLUG. BMO Capital Markets downgraded Plug Power from a "market perform" rating to an "underperform" rating and cut their price target for the stock from $3.50 to $2.50 in a research note on Wednesday, January 24th. Royal Bank of Canada decreased their target price on Plug Power from $5.00 to $3.50 and set a "sector perform" rating for the company in a research report on Wednesday, January 24th. UBS Group downgraded Plug Power from a "buy" rating to a "neutral" rating and set a $4.75 price target on the stock. in a research report on Tuesday, February 6th. Marathon Capitl reissued an "equal weight" rating on shares of Plug Power in a research report on Tuesday, March 26th. Finally, Susquehanna lowered their target price on Plug Power from $4.50 to $3.50 and set a "neutral" rating on the stock in a report on Wednesday, January 24th. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $6.05.

Plug Power Stock 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 50 day moving average price of $3.68 and a two-hundred day moving average price of $4.51. The company has a market capitalization of $2.10 billion, a P/E ratio of -1.37 and a beta of 1.54.

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 for the quarter, missing analysts' consensus estimates of ($0.56) by ($0.52). The company had revenue of $222.20 million during 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%. The business's revenue was up .7% on a year-over-year basis. During the same quarter last year, the company earned ($0.38) earnings per share. On average, research analysts expect that Plug Power Inc. will post -0.94 earnings per share for the current fiscal year.

Institutional Trading of Plug Power

Several hedge funds have recently modified their holdings of PLUG. Banque Cantonale Vaudoise boosted its holdings in shares of Plug Power by 25.7% in the 1st quarter. Banque Cantonale Vaudoise now owns 152,779 shares of the electronics maker's stock worth $526,000 after acquiring an additional 31,276 shares in the last quarter. HighPoint Advisor Group LLC acquired a new position in Plug Power in the fourth quarter worth $48,000. Quadrature Capital Ltd bought a new stake in shares of Plug Power during the fourth quarter worth $5,133,000. Vanguard Group Inc. increased its stake 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 valued at $242,943,000 after buying an additional 283,376 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Plug Power by 9.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 491,349 shares of the electronics maker's stock valued at $2,212,000 after buying an additional 41,007 shares during the last quarter. Institutional investors and hedge funds own 43.48% of the company's stock.

About Plug Power

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.