Plug Power, Inc. (NASDAQ:PLUG - Get Free Report) shares were up 5.8% during trading on Friday . The stock traded as high as $1.76 and last traded at $1.75. Approximately 31,151,725 shares changed hands during mid-day trading, a decline of 56% from the average daily volume of 71,438,745 shares. The stock had previously closed at $1.65.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on PLUG shares. Morgan Stanley dropped their price objective on Plug Power from $1.25 to $0.50 and set an "underweight" rating on the stock in a report on Monday, May 19th. Jefferies Financial Group decreased their target price on shares of Plug Power from $1.70 to $0.90 and set a "hold" rating on the stock in a research report on Tuesday, May 20th. HC Wainwright reiterated a "buy" rating and issued a $3.00 price target on shares of Plug Power in a report on Monday, March 24th. Roth Capital reiterated a "buy" rating on shares of Plug Power in a research note on Tuesday, May 13th. Finally, Canaccord Genuity Group dropped their target price 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. Six analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, Plug Power presently has a consensus rating of "Hold" and an average price target of $1.83.
Check Out Our Latest Stock Report on PLUG
Plug Power Trading Up 5.2%
The business's 50-day moving average price is $1.14 and its two-hundred day moving average price is $1.46. 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 firm has a market cap of $1.99 billion, a price-to-earnings ratio of -0.70 and a beta of 2.29.
Plug Power (NASDAQ:PLUG - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The electronics maker reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.01). The company had revenue of $133.67 million for the quarter, compared to analyst estimates of $130.92 million. Plug Power had a negative return on equity of 82.21% and a negative net margin of 312.29%. Equities analysts expect that Plug Power, Inc. will post -1.21 earnings per share for the current year.
Insiders Place Their Bets
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 shares were acquired at an average cost of $1.03 per share, for a total transaction of $669,500.00. Following the acquisition, the insider owned 2,558,064 shares in the company, valued at $2,634,805.92. This represents a 34.07% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 1.41% of the stock is currently owned by company insiders.
Institutional Trading of Plug Power
Several large investors have recently modified their holdings of the business. Jones Financial Companies Lllp increased its holdings in shares of Plug Power by 107.4% in the 4th quarter. Jones Financial Companies Lllp now owns 11,730 shares of the electronics maker's stock valued at $25,000 after acquiring an additional 6,074 shares during the last quarter. Miracle Mile Advisors LLC bought a new position in Plug Power in the 1st quarter valued at about $26,000. Ground Swell Capital LLC acquired a new position in shares of Plug Power during the fourth quarter valued at approximately $27,000. Baader Bank Aktiengesellschaft acquired a new position in shares of Plug Power during the 1st quarter valued at $28,000. Finally, O ROURKE & COMPANY Inc acquired a new position in Plug Power during the second quarter worth about $30,000. 43.48% of the stock is currently owned by institutional investors and hedge funds.
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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