Plug Power (NASDAQ:PLUG) Trading Down 2.3% - Here's Why

Key Points

• Plug Power's stock fell by 2.3% to $3.40, with a trading volume increase of 10% compared to its average.
• Analysts have mixed views on Plug Power, with ratings ranging from "strong sell" to "strong buy" and a consensus rating of "Hold".
• The company reported a loss of $0.16 EPS for the last quarter, missing expectations, despite a revenue of $173.97 million.

Plug Power, Inc. (NASDAQ:PLUG - Get Free Report) traded down 2.3% on Friday . The company traded as low as $3.37 and last traded at $3.40. 104,450,346 shares were traded during trading, an increase of 10% from the average session volume of 94,608,586 shares. The stock had previously closed at $3.48.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Evercore ISI upgraded shares of Plug Power to a "strong sell" rating in a research note on Tuesday, July 15th. Hsbc Global Res upgraded shares of Plug Power to a "strong-buy" rating in a research note on Thursday, October 9th. BMO Capital Markets cut their price objective 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. Weiss Ratings restated a "sell (d-)" rating on shares of Plug Power in a research note on Wednesday, October 8th. Finally, HSBC set a $4.40 price objective on shares of Plug Power in a research note on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have issued a Hold rating and six have assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $2.54.

Plug Power Trading Down 2.9%

The company has a quick ratio of 0.82, a current ratio of 1.59 and a debt-to-equity ratio of 0.22. The firm's 50-day simple moving average is $2.21 and its 200 day simple moving average is $1.53. The stock has a market capitalization of $3.90 billion, a P/E ratio of -1.46 and a beta of 2.23.

Plug Power (NASDAQ:PLUG - Get Free Report) last issued its quarterly earnings results on Monday, August 11th. The electronics maker reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.01). Plug Power had a negative return on equity of 90.22% and a negative net margin of 292.84%.The business had revenue of $173.97 million during the quarter, compared to the consensus estimate of $157.97 million. Equities research analysts anticipate that Plug Power, Inc. will post -1.21 EPS for the current fiscal year.

Institutional Trading of Plug Power

Hedge funds have recently bought and sold shares of the company. Brave Asset Management Inc. lifted its stake in 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 in the last quarter. Baader Bank Aktiengesellschaft lifted its stake in Plug Power by 3,034.2% during the second quarter. Baader Bank Aktiengesellschaft now owns 652,950 shares of the electronics maker's stock valued at $973,000 after buying an additional 632,117 shares in the last quarter. Vontobel Holding Ltd. lifted its stake in Plug Power by 11.9% during the second quarter. Vontobel Holding Ltd. now owns 3,878,389 shares of the electronics maker's stock valued at $5,779,000 after buying an additional 412,585 shares in the last quarter. Vanguard Group Inc. lifted its stake in Plug Power by 4.5% during the first quarter. Vanguard Group Inc. now owns 91,368,845 shares of the electronics maker's stock valued at $123,348,000 after buying an additional 3,930,342 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Plug Power by 6.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 6,972,199 shares of the electronics maker's stock valued at $9,412,000 after buying an additional 418,493 shares in the last quarter. 43.48% of the stock is owned by hedge funds and other institutional investors.

Plug Power Company Profile

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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