Plug Power (NASDAQ:PLUG) Trading 11.5% Higher - What's Next?

Shares of Plug Power, Inc. (NASDAQ:PLUG - Get Free Report) traded up 11.5% during mid-day trading on Thursday . The company traded as high as $1.21 and last traded at $1.22. 28,781,389 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 68,355,233 shares. The stock had previously closed at $1.09.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Wells Fargo & Company reduced their price objective on shares of Plug Power from $2.00 to $1.00 and set an "equal weight" rating for the company in a report on Wednesday, May 14th. UBS Group dropped their price target on shares of Plug Power from $2.50 to $1.75 and set a "neutral" rating for the company in a research report on Friday, March 21st. BMO Capital Markets decreased their price objective on Plug Power from $1.60 to $1.40 and set an "underperform" rating on the stock in a report on Wednesday, March 5th. Susquehanna lowered their price objective on Plug Power from $1.80 to $1.25 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Finally, Canaccord Genuity Group cut their target price on Plug Power from $1.25 to $1.00 and set a "hold" rating for the company in a research report on Tuesday, May 13th. Five equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Plug Power currently has a consensus rating of "Hold" and an average price target of $1.83.

Plug Power Trading Up 11.5%

The business has a 50 day simple moving average of $0.94 and a 200 day simple moving average of $1.57. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.95 and a quick ratio of 1.07. The company has a market cap of $1.39 billion, a price-to-earnings ratio of -0.50 and a beta of 2.17.

Plug Power (NASDAQ:PLUG - Get Free Report) last issued 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 82.21% and a negative net margin of 312.29%. The company had revenue of $133.67 million for the quarter, compared to analyst estimates of $130.92 million. As a group, equities analysts forecast that Plug Power, Inc. will post -1.21 EPS for the current year.

Insider Activity at Plug Power

In other news, insider Paul B. Middleton acquired 650,000 shares of the firm's stock in a transaction on Monday, June 9th. The shares were purchased at an average cost of $1.03 per share, for a total transaction of $669,500.00. Following the transaction, the insider now owns 2,558,064 shares of the company's stock, valued at approximately $2,634,805.92. This represents a 34.07% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.41% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Plug Power

Large investors have recently made changes to their positions in the company. Oppenheimer & Co. Inc. bought a new stake in Plug Power during the 4th quarter worth about $25,000. Jones Financial Companies Lllp raised its stake 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 buying an additional 6,074 shares during the last quarter. Callan Family Office LLC acquired a new position in Plug Power in the fourth quarter valued at approximately $27,000. Ground Swell Capital LLC acquired a new position in Plug Power in the fourth quarter valued at approximately $27,000. Finally, Strategic Investment Solutions Inc. IL boosted its stake in Plug Power by 1,182.4% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 14,696 shares of the electronics maker's stock valued at $31,000 after acquiring an additional 13,550 shares during the last quarter. Institutional investors and hedge funds own 43.48% of the company's stock.

About Plug Power

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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