Plug Power, Inc. (NASDAQ:PLUG - Get Free Report) shares shot up 25.8% on Wednesday . The company traded as high as $2.94 and last traded at $2.93. 213,725,620 shares changed hands during trading, an increase of 146% from the average session volume of 86,892,531 shares. The stock had previously closed at $2.33.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on PLUG. Susquehanna lifted their target price on shares of Plug Power from $1.00 to $1.80 and gave the company a "neutral" rating in a research note on Monday, July 21st. Evercore ISI raised shares of Plug Power to a "strong sell" rating in a research note on Tuesday, July 15th. Wells Fargo & Company lifted their target price on shares of Plug Power from $1.00 to $1.50 and gave the company an "equal weight" rating in a research note on Thursday, August 14th. Jefferies Financial Group lifted their target price on shares of Plug Power from $0.90 to $1.60 and gave the company a "hold" rating in a research note on Wednesday, July 23rd. Finally, BMO Capital Markets cut their target price on shares of Plug Power from $1.10 to $1.00 and set an "underperform" rating on the stock in a research note on Tuesday, August 12th. Four investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Reduce" and an average target price of $1.88.
Get Our Latest Analysis on Plug Power
Plug Power Stock Performance
The company has a market capitalization of $3.38 billion, a PE ratio of -1.27 and a beta of 2.09. The business's 50-day moving average is $1.72 and its 200-day moving average is $1.36. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 1.59.
Plug Power (NASDAQ:PLUG - Get Free Report) last issued its quarterly earnings results on Monday, August 11th. The electronics maker reported ($0.16) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.01). Plug Power had a negative net margin of 292.84% and a negative return on equity of 90.22%. The business had revenue of $173.97 million for the quarter, compared to analysts' expectations of $157.97 million. On average, research analysts anticipate that Plug Power, Inc. will post -1.21 earnings per share for the current year.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of PLUG. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Plug Power by 19.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,309,399 shares of the electronics maker's stock worth $4,919,000 after buying an additional 379,723 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Plug Power by 35.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 64,440 shares of the electronics maker's stock worth $137,000 after buying an additional 16,878 shares during the last quarter. ACT Wealth Management LLC raised its holdings in shares of Plug Power by 58.3% during the first quarter. ACT Wealth Management LLC now owns 38,000 shares of the electronics maker's stock valued at $51,000 after purchasing an additional 14,000 shares during the last quarter. AFG Fiduciary Services Limited Partnership purchased a new position in shares of Plug Power during the first quarter valued at approximately $53,000. Finally, Miracle Mile Advisors LLC purchased a new position in shares of Plug Power during the first quarter valued at approximately $26,000. 43.48% of the stock is owned by hedge funds and other 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.
Further Reading
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