Plug Power, Inc. (NASDAQ:PLUG - Get Free Report)'s stock price rose 8.2% during trading on Thursday . The stock traded as high as $1.67 and last traded at $1.65. Approximately 33,087,826 shares were traded during trading, a decline of 54% from the average daily volume of 71,323,933 shares. The stock had previously closed at $1.52.
Analysts Set New Price Targets
Several equities research analysts recently commented on the company. Evercore ISI raised Plug Power to a "strong sell" rating in a report on Tuesday, July 15th. Wall Street Zen raised shares of Plug Power to a "sell" rating in a report on Tuesday, May 13th. HC Wainwright restated a "buy" rating and set a $3.00 price objective on shares of Plug Power in a research report on Monday, March 24th. Morgan Stanley reduced their price target on shares of Plug Power from $1.25 to $0.50 and set an "underweight" rating on the stock in a research report on Monday, May 19th. Finally, Roth Capital reiterated a "buy" rating on shares of Plug Power in a research 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 stock. According to MarketBeat.com, Plug Power currently has a consensus rating of "Hold" and an average target price of $1.83.
Check Out Our Latest Analysis on Plug Power
Plug Power Stock Performance
The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.07 and a current ratio of 1.95. The stock has a fifty day simple moving average of $1.16 and a 200-day simple moving average of $1.46. The stock has a market cap of $2.05 billion, a P/E ratio of -0.72 and a beta of 2.29.
Plug Power (NASDAQ:PLUG - Get Free Report) last issued its 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). Plug Power had a negative return on equity of 82.21% and a negative net margin of 312.29%. The business had revenue of $133.67 million for the quarter, compared to the consensus estimate of $130.92 million. On average, 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 dated Monday, June 9th. The stock was purchased at an average price of $1.03 per share, with a total value of $669,500.00. Following the completion of the acquisition, the insider owned 2,558,064 shares of the company's stock, valued at $2,634,805.92. The trade was 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 through the SEC website. 1.41% of the stock is owned by insiders.
Institutional Trading of Plug Power
Institutional investors have recently modified their holdings of the business. Mariner LLC grew its position in shares of Plug Power by 29.7% during the 4th quarter. Mariner LLC now owns 177,839 shares of the electronics maker's stock worth $379,000 after buying an additional 40,710 shares during the period. Norges Bank bought a new position in shares of Plug Power during the 4th quarter worth about $146,465,000. Wells Fargo & Company MN grew its stake in shares of Plug Power by 2.7% in the 4th quarter. Wells Fargo & Company MN now owns 2,685,413 shares of the electronics maker's stock valued at $5,720,000 after buying an additional 70,187 shares during the period. KLP Kapitalforvaltning AS bought a new stake in Plug Power in the 4th quarter valued at about $320,000. Finally, Two Sigma Investments LP raised its stake in Plug Power by 387.7% during the 4th quarter. Two Sigma Investments LP now owns 969,327 shares of the electronics maker's stock worth $2,065,000 after buying an additional 770,564 shares during the period. 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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