Plug Power (NASDAQ:PLUG) Stock Price Down 3.9%

Plug Power Inc. (NASDAQ:PLUG - Get Free Report)'s stock price fell 3.9% on Monday . The stock traded as low as $2.46 and last traded at $2.47. 8,420,506 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 40,591,910 shares. The stock had previously closed at $2.57.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PLUG. Piper Sandler boosted their target price on Plug Power from $2.80 to $2.90 and gave the stock an "underweight" rating in a research report on Tuesday, March 5th. Roth Capital upgraded shares of Plug Power from a "neutral" rating to a "buy" rating in a report on Wednesday, January 31st. Truist Financial boosted their price target on shares of Plug Power from $3.00 to $4.00 and gave the company a "hold" rating in a report on Wednesday, February 28th. Redburn Atlantic began coverage on Plug Power in a report on Tuesday, February 6th. They set a "neutral" rating and a $4.50 target price on the stock. Finally, Citigroup cut Plug Power from a "neutral" rating to a "sell" rating and decreased 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 given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $6.05.

Plug Power Price Performance

The stock has a market cap of $1.70 billion, a price-to-earnings ratio of -1.09 and a beta of 1.54. 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 company has a 50-day simple moving average of $3.38 and a two-hundred day simple moving average of $4.24.

Plug Power (NASDAQ:PLUG - Get Free Report) last issued its 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 38.09% and a negative net margin of 153.57%. The firm had revenue of $222.20 million for the quarter, compared to analyst estimates of $234.21 million. During the same quarter in the previous year, the firm posted ($0.38) earnings per share. Plug Power's quarterly revenue was up .7% on a year-over-year basis. As a group, equities research analysts forecast that Plug Power Inc. will post -0.94 EPS for the current year.

Hedge Funds Weigh In On Plug Power

A number of hedge funds and other institutional investors have recently bought and sold shares of PLUG. Arkadios Wealth Advisors boosted its stake in shares of Plug Power by 40.0% during the 3rd quarter. Arkadios Wealth Advisors now owns 14,000 shares of the electronics maker's stock worth $106,000 after acquiring an additional 4,000 shares during the period. SG Americas Securities LLC raised its position in shares of Plug Power by 36.4% in the third quarter. SG Americas Securities LLC now owns 583,938 shares of the electronics maker's stock valued at $4,438,000 after purchasing an additional 155,894 shares during the period. Newbridge Financial Services Group Inc. boosted its holdings in shares of Plug Power by 33.6% during the 3rd quarter. Newbridge Financial Services Group Inc. now owns 11,540 shares of the electronics maker's stock worth $88,000 after buying an additional 2,900 shares during the period. Exchange Traded Concepts LLC raised its holdings in Plug Power by 30.3% in the 3rd quarter. Exchange Traded Concepts LLC now owns 6,486 shares of the electronics maker's stock valued at $49,000 after acquiring an additional 1,510 shares during the period. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in Plug Power during the third quarter worth approximately $78,000. 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.