Plug Power, Inc. (NASDAQ:PLUG - Get Free Report)'s stock price gapped up prior to trading on Monday . The stock had previously closed at $1.16, but opened at $1.30. Plug Power shares last traded at $1.27, with a volume of 32,572,272 shares changing hands.
Wall Street Analyst Weigh In
A number of brokerages have commented on PLUG. Piper Sandler reduced their price objective on Plug Power from $1.10 to $0.80 and set an "underweight" rating on the stock in a research note on Wednesday, May 14th. Truist Financial reduced their price target on Plug Power from $2.00 to $1.50 and set a "hold" rating on the stock in a research report on Wednesday, March 5th. Susquehanna lowered their price objective 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. Morgan Stanley dropped their price objective on shares of Plug Power from $1.25 to $0.50 and set an "underweight" rating on the stock in a research note on Monday, May 19th. Finally, Roth Capital reissued a "buy" rating on shares of Plug Power in a research report on Tuesday, May 13th. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $1.83.
Check Out Our Latest Research Report on PLUG
Plug Power Stock Performance
The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of -0.52 and a beta of 2.17. The company has a 50-day moving average price of $0.95 and a 200-day moving average price of $1.53. 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 (NASDAQ:PLUG - Get Free Report) last announced 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). Plug Power had a negative net margin of 312.29% and a negative return on equity of 82.21%. The business had revenue of $133.67 million for the quarter, compared to the consensus estimate of $130.92 million. As a group, equities research analysts forecast that Plug Power, Inc. will post -1.21 earnings per share for the current year.
Insider Activity at Plug Power
In related news, CFO Paul B. Middleton purchased 350,000 shares of the company's stock in a transaction on Friday, May 16th. The shares were bought 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 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 purchase was disclosed in a document filed with the SEC, which is available through this link. 1.41% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in PLUG. Norges Bank acquired a new stake in Plug Power in the fourth quarter worth approximately $146,465,000. Heights Capital Management Inc. bought a new stake in shares of Plug Power in the 1st quarter worth $31,174,000. Point72 Asset Management L.P. acquired a new stake in shares of Plug Power in the fourth quarter valued at $10,370,000. Vanguard Group Inc. lifted its holdings in shares of Plug Power by 5.4% in the fourth quarter. Vanguard Group Inc. now owns 87,438,503 shares of the electronics maker's stock valued at $186,244,000 after buying an additional 4,491,114 shares during the period. Finally, Renaissance Technologies LLC bought a new position in Plug Power during the fourth quarter valued at about $6,235,000. 43.48% of the stock is currently owned by institutional investors.
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.
See Also
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