Plug Power (NASDAQ:PLUG - Get Free Report) was upgraded by stock analysts at Evercore ISI to a "strong sell" rating in a research report issued on Tuesday,Zacks.com reports.
PLUG has been the subject of several other research reports. Susquehanna cut their target price on shares of Plug Power from $1.80 to $1.25 and set a "neutral" rating for the company in a research note on Monday, April 14th. Roth Capital reiterated a "buy" rating on shares of Plug Power in a report on Tuesday, May 13th. Wells Fargo & Company decreased their target price on Plug Power from $2.00 to $1.00 and set an "equal weight" rating for the company in a report on Wednesday, May 14th. Piper Sandler decreased their target price on Plug Power from $1.10 to $0.80 and set an "underweight" rating for the company in a report on Wednesday, May 14th. Finally, Jefferies Financial Group decreased their target price on Plug Power from $1.70 to $0.90 and set a "hold" rating for the company in a report on Tuesday, May 20th. Six equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Plug Power presently has a consensus rating of "Hold" and an average price target of $1.83.
Check Out Our Latest Research Report on PLUG
Plug Power Price Performance
Shares of Plug Power stock traded up $0.14 during trading hours on Tuesday, reaching $1.79. 47,696,036 shares of the company's stock were exchanged, compared to its average volume of 71,525,782. The company has a quick ratio of 1.07, a current ratio of 1.95 and a debt-to-equity ratio of 0.27. Plug Power has a 1 year low of $0.69 and a 1 year high of $3.32. The business has a fifty day moving average of $1.14 and a two-hundred day moving average of $1.46. The company has a market capitalization of $2.05 billion, a P/E ratio of -0.73 and a beta of 2.29.
Plug Power (NASDAQ:PLUG - Get Free Report) last issued its earnings results on Monday, May 12th. The electronics maker reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.01). The firm had revenue of $133.67 million during the quarter, compared to analyst estimates of $130.92 million. Plug Power had a negative net margin of 312.29% and a negative return on equity of 82.21%. As a group, research analysts predict that Plug Power will post -1.21 earnings per share for the current fiscal year.
Insider Buying and Selling at Plug Power
In other Plug Power news, insider Paul B. Middleton acquired 650,000 shares of the firm's stock in a transaction on Monday, June 9th. The stock was purchased at an average cost of $1.03 per share, for a total transaction of $669,500.00. Following the transaction, the insider owned 2,558,064 shares of the company's stock, valued at $2,634,805.92. The trade was a 34.07% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.41% of the stock is owned by company insiders.
Institutional Trading of Plug Power
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Miracle Mile Advisors LLC acquired a new stake in shares of Plug Power during the 1st quarter worth approximately $26,000. Ground Swell Capital LLC bought a new position in Plug Power in the 4th quarter valued at $27,000. Baader Bank Aktiengesellschaft bought a new stake in shares of Plug Power during the first quarter worth $28,000. O ROURKE & COMPANY Inc bought a new stake in Plug Power in the second quarter valued at about $30,000. Finally, Strategic Investment Solutions Inc. IL increased its holdings in Plug Power by 1,182.4% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 14,696 shares of the electronics maker's stock valued at $31,000 after purchasing an additional 13,550 shares during the last quarter. Institutional investors and hedge funds own 43.48% of the company's stock.
Plug Power Company Profile
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Get Free Report)
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.
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