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.
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