Plug Power, Inc. (NASDAQ:PLUG - Get Free Report) was up 5.8% on Friday . The company traded as high as $1.76 and last traded at $1.75. Approximately 31,151,725 shares were traded during trading, a decline of 56% from the average daily volume of 71,438,745 shares. The stock had previously closed at $1.65.
Analyst Ratings Changes
A number of research firms have commented on PLUG. HC Wainwright reaffirmed a "buy" rating and set a $3.00 target price on shares of Plug Power in a report on Monday, March 24th. Piper Sandler reduced their target price on Plug Power from $1.10 to $0.80 and set an "underweight" rating on the stock in a report on Wednesday, May 14th. Roth Capital reaffirmed a "buy" rating on shares of Plug Power in a report on Tuesday, May 13th. Morgan Stanley reduced their target price on Plug Power from $1.25 to $0.50 and set an "underweight" rating on the stock in a report on Monday, May 19th. Finally, Evercore ISI raised Plug Power to a "strong sell" rating in a report on Tuesday, July 15th. Six investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Plug Power has a consensus rating of "Hold" and an average target price of $1.87.
Read Our Latest Stock Report on Plug Power
Plug Power Price Performance
The company has a current ratio of 1.95, a quick ratio of 1.07 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $2.16 billion, a P/E ratio of -0.76 and a beta of 2.29. The company has a 50 day moving average of $1.16 and a 200-day moving average of $1.45.
Plug Power (NASDAQ:PLUG - Get Free Report) last released 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). Plug Power had a negative net margin of 312.29% and a negative return on equity of 82.21%. The business had revenue of $133.67 million during the quarter, compared to analyst estimates of $130.92 million. On average, sell-side analysts predict that Plug Power, Inc. will post -1.21 EPS for the current year.
Insider Transactions at Plug Power
In related news, insider Paul B. Middleton purchased 650,000 shares of Plug Power stock in a transaction on Monday, June 9th. The shares were purchased at an average price of $1.03 per share, for a total transaction of $669,500.00. Following the transaction, the insider owned 2,558,064 shares of the company's stock, valued at approximately $2,634,805.92. This represents a 34.07% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 1.41% of the company's stock.
Institutional Trading of Plug Power
Several hedge funds have recently modified their holdings of the stock. O ROURKE & COMPANY Inc purchased a new position in shares of Plug Power during the second quarter valued at approximately $30,000. Lazari Capital Management Inc. boosted its position in shares of Plug Power by 49.2% during the second quarter. Lazari Capital Management Inc. now owns 36,798 shares of the electronics maker's stock valued at $55,000 after buying an additional 12,141 shares during the last quarter. MinichMacGregor Wealth Management LLC boosted its position in shares of Plug Power by 334.9% during the second quarter. MinichMacGregor Wealth Management LLC now owns 55,243 shares of the electronics maker's stock valued at $82,000 after buying an additional 42,540 shares during the last quarter. CX Institutional boosted its position in shares of Plug Power by 2,039.8% during the second quarter. CX Institutional now owns 41,961 shares of the electronics maker's stock valued at $63,000 after buying an additional 40,000 shares during the last quarter. Finally, Brave Asset Management Inc. boosted its position in shares of Plug Power by 603.8% during the second quarter. Brave Asset Management Inc. now owns 140,400 shares of the electronics maker's stock valued at $209,000 after buying an additional 120,450 shares during the last quarter. 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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