Plug Power Inc. (NASDAQ:PLUG - Get Free Report)'s share price dropped 1.8% on Tuesday . The stock traded as low as $1.88 and last traded at $1.92. Approximately 23,320,422 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 78,104,461 shares. The stock had previously closed at $1.95.
Analysts Set New Price Targets
Several analysts have commented on PLUG shares. Canaccord Genuity Group dropped their price objective on Plug Power from $2.50 to $2.25 and set a "hold" rating on the stock in a report on Wednesday, November 13th. Craig Hallum dropped their price target on shares of Plug Power from $4.00 to $3.00 and set a "buy" rating on the stock in a research note on Thursday, November 14th. Evercore ISI reduced their price objective on shares of Plug Power from $5.00 to $4.00 and set an "outperform" rating for the company in a research report on Wednesday, November 13th. StockNews.com upgraded shares of Plug Power to a "sell" rating in a research report on Wednesday, January 22nd. Finally, HC Wainwright restated a "buy" rating and set a $18.00 price target on shares of Plug Power in a research report on Wednesday, November 13th. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $4.46.
Get Our Latest Stock Analysis on Plug Power
Plug Power Stock Down 3.4 %
The firm has a 50-day moving average of $2.36 and a two-hundred day moving average of $2.22. 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 company has a market capitalization of $1.69 billion, a PE ratio of -0.87 and a beta of 1.79.
Plug Power (NASDAQ:PLUG - Get Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.01). The business had revenue of $173.70 million for the quarter, compared to analyst estimates of $207.25 million. Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. The firm's revenue for the quarter was down 12.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.47) earnings per share. Equities research analysts predict that Plug Power Inc. will post -1.21 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Plug Power
Several hedge funds have recently bought and sold shares of the company. Pacific Sage Partners LLC acquired a new stake in shares of Plug Power during the fourth quarter worth about $25,000. Prio Wealth Limited Partnership acquired a new stake in Plug Power during the 3rd quarter worth approximately $29,000. Catalyst Capital Advisors LLC boosted its position in Plug Power by 79.9% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 12,681 shares of the electronics maker's stock valued at $29,000 after buying an additional 5,631 shares during the period. Millburn Ridgefield Corp grew its stake in shares of Plug Power by 79.9% in the third quarter. Millburn Ridgefield Corp now owns 12,681 shares of the electronics maker's stock worth $29,000 after acquiring an additional 5,631 shares in the last quarter. Finally, First Commonwealth Financial Corp PA purchased a new stake in shares of Plug Power during the third quarter worth $29,000. Institutional investors and hedge funds own 43.48% of the company's stock.
About Plug Power
(
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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