Plug Power, Inc. (NASDAQ:PLUG - Get Free Report)'s stock price rose 3.9% on Friday . The stock traded as high as $1.55 and last traded at $1.46. Approximately 81,632,524 shares traded hands during trading, an increase of 17% from the average daily volume of 70,030,880 shares. The stock had previously closed at $1.40.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on PLUG shares. Roth Capital reiterated a "buy" rating on shares of Plug Power in a research report on Tuesday, May 13th. Jefferies Financial Group reduced their price target on shares of Plug Power from $1.70 to $0.90 and set a "hold" rating for the company in a report on Tuesday, May 20th. Piper Sandler lowered their price objective on shares of Plug Power from $1.10 to $0.80 and set an "underweight" rating for the company in a research report on Wednesday, May 14th. HC Wainwright reaffirmed a "buy" rating and issued a $3.00 price objective on shares of Plug Power in a research report on Monday, March 24th. Finally, Susquehanna lowered their target price on Plug Power from $1.80 to $1.25 and set a "neutral" rating for the company in a report on Monday, April 14th. Five investment 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 data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $1.83.
Read Our Latest Report on Plug Power
Plug Power Stock Up 3.9%
The firm has a fifty day moving average of $1.01 and a 200-day moving average of $1.51. The company has a quick ratio of 1.07, a current ratio of 1.95 and a debt-to-equity ratio of 0.27. The firm has a market cap of $1.67 billion, a P/E ratio of -0.59 and a beta of 2.29.
Plug Power (NASDAQ:PLUG - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The electronics maker reported ($0.21) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.01). The company had revenue of $133.67 million for the quarter, compared to the consensus estimate of $130.92 million. Plug Power had a negative return on equity of 82.21% and a negative net margin of 312.29%. On average, equities research analysts anticipate that Plug Power, Inc. will post -1.21 earnings per share for the current year.
Insiders Place Their Bets
In other news, insider Paul B. Middleton purchased 650,000 shares of the business's stock in a transaction on Monday, June 9th. The stock was purchased at an average price of $1.03 per share, for a total transaction of $669,500.00. Following the completion of the purchase, the insider directly owned 2,558,064 shares in the company, 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 is accessible through the SEC website. Insiders own 1.41% of the company's stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of PLUG. Norges Bank acquired a new stake in Plug Power in the 4th quarter valued at about $146,465,000. Heights Capital Management Inc. bought a new stake in Plug Power in the first quarter valued at approximately $31,174,000. Point72 Asset Management L.P. acquired a new stake in shares of Plug Power in the fourth quarter valued at approximately $10,370,000. Vanguard Group Inc. boosted its stake in shares of Plug Power by 5.4% during the 4th quarter. Vanguard Group Inc. now owns 87,438,503 shares of the electronics maker's stock worth $186,244,000 after acquiring an additional 4,491,114 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in shares of Plug Power during the 4th quarter worth approximately $6,235,000. Institutional investors own 43.48% of the company's stock.
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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