Plug Power Inc. (NASDAQ:PLUG - Get Free Report)'s share price gapped down before the market opened on Friday . The stock had previously closed at $0.93, but opened at $0.90. Plug Power shares last traded at $0.92, with a volume of 14,186,975 shares traded.
Analyst Ratings Changes
A number of research analysts have weighed in on PLUG shares. Canaccord Genuity Group cut 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 report on Tuesday, May 13th. 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 report on Monday, April 14th. Roth Capital reissued a "buy" rating on shares of Plug Power in a research report on Tuesday, May 13th. Wall Street Zen raised shares of Plug Power to a "sell" rating in a research report on Tuesday, May 13th. Finally, B. Riley cut their target price on shares of Plug Power from $4.00 to $3.00 and set a "buy" rating for the company in a research report on Wednesday, March 5th. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Plug Power currently has a consensus rating of "Hold" and a consensus target price of $1.83.
Get Our Latest Stock Analysis on Plug Power
Plug Power Price Performance
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 stock has a market cap of $947.54 million, a price-to-earnings ratio of -0.41 and a beta of 2.19. The company's 50-day moving average is $0.97 and its 200-day moving average is $1.68.
Plug Power (NASDAQ:PLUG - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The electronics maker reported ($0.21) earnings per share (EPS) 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. Equities research analysts expect that Plug Power Inc. will post -1.21 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, CFO Paul B. Middleton acquired 350,000 shares of the firm's stock in a transaction on Friday, May 16th. The shares were purchased at an average cost of $0.72 per share, with a total value of $252,000.00. Following the completion of the purchase, the chief financial officer now owns 1,908,064 shares of the company's stock, valued at $1,373,806.08. This represents a 22.46% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.70% of the company's stock.
Institutional Trading of Plug Power
Large investors have recently added to or reduced their stakes in the company. Mariner LLC grew its stake in Plug Power by 29.7% during the fourth quarter. Mariner LLC now owns 177,839 shares of the electronics maker's stock worth $379,000 after buying an additional 40,710 shares during the last quarter. Norges Bank bought a new stake in shares of Plug Power during the fourth quarter valued at approximately $146,465,000. Wells Fargo & Company MN grew its stake in shares of Plug Power by 2.7% during the fourth quarter. Wells Fargo & Company MN now owns 2,685,413 shares of the electronics maker's stock valued at $5,720,000 after purchasing an additional 70,187 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Plug Power during the fourth quarter valued at approximately $320,000. Finally, Deutsche Bank AG grew its stake in shares of Plug Power by 88.3% during the fourth quarter. Deutsche Bank AG now owns 978,101 shares of the electronics maker's stock valued at $2,083,000 after purchasing an additional 458,706 shares during the last quarter. 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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