Shares of Plug Power Inc. (NASDAQ:PLUG - Get Free Report) traded down 1.7% on Thursday . The stock traded as low as $0.88 and last traded at $0.91. 22,615,047 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 64,435,135 shares. The stock had previously closed at $0.93.
Wall Street Analyst Weigh In
PLUG has been the topic of a number of research analyst reports. Roth Capital reaffirmed a "buy" rating on shares of Plug Power in a report on Tuesday, May 13th. Morgan Stanley decreased their target price on Plug Power from $1.25 to $0.50 and set an "underweight" rating for the company in a research report on Monday, May 19th. Susquehanna dropped their price target on shares of Plug Power from $1.80 to $1.25 and set a "neutral" rating on the stock in a report on Monday, April 14th. B. Riley reduced their price target on shares of Plug Power from $4.00 to $3.00 and set a "buy" rating for the company in a research note on Wednesday, March 5th. Finally, Canaccord Genuity Group lowered their price objective on shares of Plug Power from $1.25 to $1.00 and set a "hold" rating on the stock in a research report on Tuesday, May 13th. Five analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $1.83.
Check Out Our Latest Stock Report on Plug Power
Plug Power Trading Up 11.2%
The company has a market capitalization of $1.05 billion, a P/E ratio of -0.45 and a beta of 2.17. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 2.08. The stock has a fifty day moving average of $0.92 and a 200 day moving average of $1.65.
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 analysts' consensus estimates of ($0.20) by ($0.01). Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. The company had revenue of $133.67 million during the quarter, compared to analysts' expectations of $130.92 million. As a group, equities research analysts anticipate that Plug Power Inc. will post -1.21 EPS for the current fiscal year.
Insider Buying and Selling
In other news, CFO Paul B. Middleton purchased 350,000 shares of the company's stock in a transaction on Friday, May 16th. The stock was acquired at an average cost of $0.72 per share, for a total transaction of $252,000.00. Following the completion of the transaction, the chief financial officer now directly owns 1,908,064 shares in the company, valued at $1,373,806.08. This trade represents a 22.46% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.70% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of PLUG. Empowered Funds LLC bought a new stake in Plug Power during the fourth quarter valued at about $214,000. Savant Capital LLC bought a new stake in Plug Power during the 4th quarter valued at approximately $31,000. Sovran Advisors LLC purchased a new position in Plug Power in the 4th quarter worth approximately $127,000. Avidian Wealth Enterprises LLC bought a new position in Plug Power in the 4th quarter worth approximately $35,000. Finally, Compagnie Lombard Odier SCmA grew its holdings in Plug Power by 12.8% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 49,000 shares of the electronics maker's stock valued at $104,000 after buying an additional 5,550 shares in the last quarter. Hedge funds and other 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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