Plug Power, Inc. (NASDAQ:PLUG - Get Free Report) was down 5.4% on Wednesday . The company traded as low as $3.52 and last traded at $3.66. Approximately 147,643,096 shares were traded during trading, an increase of 61% from the average daily volume of 91,801,477 shares. The stock had previously closed at $3.87.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on the stock. HC Wainwright boosted their target price on shares of Plug Power from $3.00 to $7.00 and gave the company a "buy" rating in a report on Friday, October 3rd. Wells Fargo & Company upped their price target on Plug Power from $1.00 to $1.50 and gave the company an "equal weight" rating in a research note on Thursday, August 14th. Evercore ISI raised shares of Plug Power to a "strong sell" rating in a research report on Tuesday, July 15th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Plug Power in a research report on Wednesday. Finally, BMO Capital Markets decreased their price objective on shares of Plug Power from $1.10 to $1.00 and set an "underperform" rating on the stock in a report on Tuesday, August 12th. Four equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and six have issued a Sell rating to the company. According to data from MarketBeat, Plug Power currently has an average rating of "Reduce" and a consensus target price of $2.19.
View Our Latest Stock Analysis on Plug Power
Plug Power Stock Performance
The company has a market capitalization of $4.22 billion, a price-to-earnings ratio of -1.58 and a beta of 2.23. The company has a current ratio of 1.59, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22. The stock's fifty day simple moving average is $1.90 and its 200-day simple moving average is $1.42.
Plug Power (NASDAQ:PLUG - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The electronics maker reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The company had revenue of $173.97 million during the quarter, compared to analyst estimates of $157.97 million. Plug Power had a negative net margin of 292.84% and a negative return on equity of 90.22%. Analysts predict that Plug Power, Inc. will post -1.21 EPS for the current year.
Institutional Investors Weigh In On Plug Power
A number of hedge funds and other institutional investors have recently modified their holdings of PLUG. Oak Thistle LLC acquired a new stake in Plug Power in the third quarter valued at $30,000. Sender Co & Partners Inc. acquired a new stake in Plug Power during the 2nd quarter worth $26,000. Miracle Mile Advisors LLC acquired a new stake in Plug Power during the 1st quarter worth $26,000. O ROURKE & COMPANY Inc acquired a new stake in Plug Power during the 2nd quarter worth $30,000. Finally, Obermeyer Wealth Partners increased its position in Plug Power by 100.0% during the second quarter. Obermeyer Wealth Partners now owns 20,000 shares of the electronics maker's stock worth $30,000 after buying an additional 10,000 shares during the period. 43.48% of the stock is currently owned by institutional investors and hedge funds.
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.
See Also
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