Free Trial

Plug Power (NASDAQ:PLUG) Stock Price Down 1.4% - What's Next?

Plug Power logo with Industrials background

Plug Power, Inc. (NASDAQ:PLUG - Get Free Report)'s share price was down 1.4% during mid-day trading on Thursday . The stock traded as low as $1.68 and last traded at $1.76. Approximately 41,739,782 shares traded hands during mid-day trading, a decline of 41% from the average daily volume of 71,017,173 shares. The stock had previously closed at $1.78.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PLUG shares. Jefferies Financial Group decreased their price objective 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. Morgan Stanley decreased their price objective 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. Wall Street Zen raised shares of Plug Power to a "sell" rating in a report on Tuesday, May 13th. Piper Sandler decreased their price objective on shares of Plug Power from $1.10 to $0.80 and set an "underweight" rating for the company in a report on Wednesday, May 14th. Finally, Canaccord Genuity Group decreased their price objective on shares of Plug Power from $1.25 to $1.00 and set a "hold" rating for the company in a 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. According to data from MarketBeat, Plug Power has an average rating of "Hold" and an average target price of $1.83.

Check Out Our Latest Stock Analysis on PLUG

Plug Power Trading Down 5.6%

The firm has a market capitalization of $1.93 billion, a P/E ratio of -0.68 and a beta of 2.29. The stock's 50-day simple moving average is $1.06 and its two-hundred day simple moving average is $1.49. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.95 and a quick ratio of 1.07.

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 for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.01). The firm had revenue of $133.67 million during 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%. Equities research analysts expect that Plug Power, Inc. will post -1.21 EPS for the current year.

Insider Buying and Selling at Plug Power

In related news, insider Paul B. Middleton bought 650,000 shares of the company's stock in a transaction that occurred 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 transaction, the insider owned 2,558,064 shares in the company, valued at $2,634,805.92. The trade was a 34.07% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.41% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Plug Power

A number of hedge funds and other institutional investors have recently modified their holdings of PLUG. Jones Financial Companies Lllp boosted its position in shares of Plug Power by 107.4% during the fourth quarter. Jones Financial Companies Lllp now owns 11,730 shares of the electronics maker's stock worth $25,000 after acquiring an additional 6,074 shares during the last quarter. Miracle Mile Advisors LLC bought a new position in shares of Plug Power during the first quarter worth $26,000. Callan Family Office LLC bought a new position in shares of Plug Power during the fourth quarter worth $27,000. Ground Swell Capital LLC bought a new position in shares of Plug Power during the fourth quarter worth $27,000. Finally, Baader Bank Aktiengesellschaft bought a new position in shares of Plug Power during the first quarter worth $28,000. Institutional investors 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.

See Also

Should You Invest $1,000 in Plug Power Right Now?

Before you consider Plug Power, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Plug Power wasn't on the list.

While Plug Power currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

7 Stocks to Buy And Hold Forever Cover

Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

Don’t Miss These Top 3 Defense Stocks Set To Gain
Triple-Digit Gains: These 4 Nuclear Stocks Have Even More Upside Ahead
3 Made in America Stocks Under $20 You Need to See!

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines