Plug Power (NASDAQ:PLUG) Stock Price Down 1.4%

Plug Power Inc. (NASDAQ:PLUG - Get Free Report) shares traded down 1.4% on Monday . The stock traded as low as $2.80 and last traded at $2.85. 8,081,179 shares were traded during trading, a decline of 81% from the average session volume of 41,656,328 shares. The stock had previously closed at $2.89.

Analysts Set New Price Targets

Several brokerages have commented on PLUG. B. Riley lowered their target price on Plug Power from $18.00 to $8.00 and set a "buy" rating for the company in a research note on Wednesday, January 24th. Susquehanna lowered their target price on Plug Power from $4.50 to $3.50 and set a "neutral" rating for the company in a research note on Wednesday, January 24th. Craig Hallum lowered their price objective on Plug Power from $6.00 to $5.00 and set a "buy" rating for the company in a research note on Monday, March 4th. Truist Financial upped their price objective on Plug Power from $3.00 to $4.00 and gave the company a "hold" rating in a research note on Wednesday, February 28th. Finally, Roth Mkm raised Plug Power from a "neutral" rating to a "buy" rating and upped their price objective for the company from $4.50 to $9.00 in a research note on Wednesday, January 31st. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Plug Power currently has a consensus rating of "Hold" and a consensus target price of $6.05.

Plug Power Trading Down 1.4 %

The stock has a market capitalization of $1.95 billion, a PE ratio of -1.24 and a beta of 1.54. The firm has a 50-day moving average price of $3.55 and a 200-day moving average price of $4.38. 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 quarterly earnings data 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). Plug Power had a negative return on equity of 38.09% and a negative net margin of 153.57%. The firm had revenue of $222.20 million during the quarter, compared to analysts' expectations of $234.21 million. During the same period last year, the business posted ($0.38) EPS. The company's revenue was up .7% compared to the same quarter last year. As a group, equities analysts forecast that Plug Power Inc. will post -0.95 EPS for the current fiscal year.

Institutional Trading of Plug Power

A number of large investors have recently modified their holdings of the business. Norges Bank purchased a new position in Plug Power in the 4th quarter worth approximately $97,800,000. Morgan Stanley boosted its holdings in Plug Power by 87.2% in the third quarter. Morgan Stanley now owns 22,285,344 shares of the electronics maker's stock worth $169,369,000 after acquiring an additional 10,378,912 shares in the last quarter. Electron Capital Partners LLC bought a new stake in Plug Power in the third quarter worth $13,496,000. BlackRock Inc. lifted its holdings in shares of Plug Power by 3.0% during the first quarter. BlackRock Inc. now owns 52,381,858 shares of the electronics maker's stock valued at $613,915,000 after purchasing an additional 1,534,756 shares in the last quarter. Finally, UBS Group AG lifted its holdings in shares of Plug Power by 671.7% during the first quarter. UBS Group AG now owns 1,586,124 shares of the electronics maker's stock valued at $18,589,000 after purchasing an additional 1,380,583 shares in the last quarter. Institutional investors 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.