Shares of Plug Power, Inc. (NASDAQ:PLUG - Get Free Report) fell 4.6% during trading on Monday . The company traded as low as $1.38 and last traded at $1.40. 33,979,646 shares traded hands during mid-day trading, a decline of 52% from the average session volume of 70,061,615 shares. The stock had previously closed at $1.47.
Wall Street Analysts Forecast Growth
Several brokerages have commented on PLUG. Roth Capital reissued a "buy" rating on shares of Plug Power in a research note on Tuesday, May 13th. Jefferies Financial Group lowered their target price on Plug Power from $1.70 to $0.90 and set a "hold" rating for the company in a research note on Tuesday, May 20th. HC Wainwright reaffirmed a "buy" rating and set a $3.00 price target on shares of Plug Power in a research note on Monday, March 24th. Susquehanna dropped their price target on shares of Plug Power from $1.80 to $1.25 and set a "neutral" rating for the company in a research note on Monday, April 14th. Finally, Piper Sandler dropped their price target on shares of Plug Power from $1.10 to $0.80 and set an "underweight" rating for the company in a research note on Wednesday, May 14th. Five analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $1.83.
Check Out Our Latest Analysis on Plug Power
Plug Power Stock Performance
The company has a market cap of $1.57 billion, a PE ratio of -0.55 and a beta of 2.29. The business's 50-day moving average is $1.01 and its 200 day moving average is $1.50. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.07 and a current ratio of 1.95.
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 analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $130.92 million. On average, equities research analysts predict that Plug Power, Inc. will post -1.21 EPS for the current fiscal year.
Insider Activity
In other news, insider Paul B. Middleton acquired 650,000 shares of the firm's 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 completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.41% of the company's stock.
Institutional Investors Weigh In On Plug Power
A number of large investors have recently modified their holdings of PLUG. Norges Bank bought a new stake in shares of Plug Power during the 4th quarter valued at about $146,465,000. Heights Capital Management Inc. bought a new stake in shares of Plug Power during the 1st quarter valued at about $31,174,000. Point72 Asset Management L.P. bought a new stake in shares of Plug Power during the 4th quarter valued at about $10,370,000. Vanguard Group Inc. boosted its stake in shares of Plug Power by 5.4% during the 4th quarter. Vanguard Group Inc. now owns 87,438,503 shares of the electronics maker's stock valued at $186,244,000 after purchasing an additional 4,491,114 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Plug Power during the 4th quarter valued at about $6,235,000. Institutional investors own 43.48% of the company's stock.
Plug Power Company Profile
(
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.
Further Reading
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