Plug Power Inc. (NASDAQ:PLUG - Get Free Report) shares saw strong trading volume on Wednesday . 43,314,927 shares changed hands during trading, a decline of 29% from the previous session's volume of 61,231,658 shares.The stock last traded at $0.84 and had previously closed at $0.79.
Analyst Ratings Changes
Several brokerages recently issued reports on PLUG. Morgan Stanley cut their price target on shares of Plug Power from $1.25 to $0.50 and set an "underweight" rating for the company in a report on Monday, May 19th. BMO Capital Markets cut their price target on shares of Plug Power from $1.60 to $1.40 and set an "underperform" rating for the company in a report on Wednesday, March 5th. Roth Capital reaffirmed a "buy" rating on shares of Plug Power in a research note on Tuesday, May 13th. Canaccord Genuity Group dropped their target price on shares of Plug Power from $1.25 to $1.00 and set a "hold" rating for the company in a research note on Tuesday, May 13th. Finally, Susquehanna cut their target price on shares of Plug Power from $1.80 to $1.25 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Five equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $1.83.
Read Our Latest Analysis on Plug Power
Plug Power Trading Up 10.5%
The stock has a market cap of $1.10 billion, a price-to-earnings ratio of -0.48 and a beta of 2.19. The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15. The business's 50 day simple moving average is $1.00 and its 200 day simple moving average is $1.70.
Plug Power (NASDAQ:PLUG - Get Free Report) last issued its quarterly earnings data 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). Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. The business had revenue of $133.67 million during the quarter, compared to analyst estimates of $130.92 million. On average, research analysts expect that Plug Power Inc. will post -1.21 EPS for the current fiscal year.
Insider Buying and Selling
In related news, CFO Paul B. Middleton acquired 350,000 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was acquired at an average cost of $0.72 per share, for a total transaction of $252,000.00. Following the transaction, the chief financial officer now directly owns 1,908,064 shares in the company, valued at $1,373,806.08. This trade represents a 22.46% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.70% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Plug Power
Institutional investors have recently added to or reduced their stakes in the business. PFG Investments LLC boosted its stake in shares of Plug Power by 16.8% in the 4th quarter. PFG Investments LLC now owns 467,836 shares of the electronics maker's stock valued at $996,000 after purchasing an additional 67,251 shares during the last quarter. Swedbank AB boosted its stake in shares of Plug Power by 39.7% in the 4th quarter. Swedbank AB now owns 235,233 shares of the electronics maker's stock valued at $501,000 after purchasing an additional 66,844 shares during the last quarter. Abel Hall LLC bought a new position in Plug Power during the fourth quarter worth $31,000. Pacific Sage Partners LLC bought a new position in Plug Power during the fourth quarter worth $25,000. Finally, Empowered Funds LLC bought a new position in Plug Power during the fourth quarter worth $214,000. 43.48% of the stock is owned by institutional investors.
Plug Power Company Profile
(
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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