Plug Power (NASDAQ:PLUG) Shares Down 1.7%

Plug Power Inc. (NASDAQ:PLUG - Get Free Report)'s stock price traded down 1.7% on Friday . The company traded as low as $2.86 and last traded at $2.91. 6,018,838 shares were traded during mid-day trading, a decline of 86% from the average session volume of 41,988,961 shares. The stock had previously closed at $2.96.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Piper Sandler upped their price target on shares of Plug Power from $2.80 to $2.90 and gave the stock an "underweight" rating in a research note on Tuesday, March 5th. 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. BMO Capital Markets downgraded 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. Evercore ISI reduced their price target 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. Finally, Craig Hallum reduced their price target on shares of Plug Power from $6.00 to $5.00 and set a "buy" rating for the company in a research report on Monday, March 4th. 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 company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $6.05.

Plug Power Stock Down 2.4 %

The business's fifty day moving average price is $3.62 and its 200 day moving average price is $4.49. The company has a market capitalization of $1.98 billion, a P/E ratio of -1.27 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 announced its earnings results on Friday, March 1st. The electronics maker reported ($1.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.56) by ($0.52). The firm had revenue of $222.20 million for the quarter, compared to analyst estimates of $234.21 million. Plug Power had a negative return on equity of 38.09% and a negative net margin of 153.57%. The company's revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter last year, the business earned ($0.38) EPS. As a group, equities research analysts predict that Plug Power Inc. will post -0.95 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Plug Power

A number of hedge funds have recently made changes to their positions in PLUG. US Bancorp DE increased its position in shares of Plug Power by 7.9% during the 1st quarter. US Bancorp DE now owns 11,362 shares of the electronics maker's stock worth $324,000 after purchasing an additional 833 shares in the last quarter. MetLife Investment Management LLC acquired a new stake in Plug Power in the 1st quarter valued at about $947,000. Dimensional Fund Advisors LP increased its position in Plug Power by 34.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,250,478 shares of the electronics maker's stock valued at $35,771,000 after acquiring an additional 320,262 shares in the last quarter. Blair William & Co. IL increased its position in Plug Power by 12.6% in the 1st quarter. Blair William & Co. IL now owns 8,328 shares of the electronics maker's stock valued at $238,000 after acquiring an additional 934 shares in the last quarter. Finally, Prudential PLC acquired a new stake in Plug Power in the 1st quarter valued at about $248,000. Institutional investors and hedge funds own 43.48% of the company's stock.

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.