Shares of Plug Power Inc. (NASDAQ:PLUG - Get Free Report) rose 10.8% during trading on Tuesday . The stock traded as high as $0.92 and last traded at $0.91. Approximately 88,206,576 shares changed hands during mid-day trading, an increase of 38% from the average daily volume of 63,894,895 shares. The stock had previously closed at $0.82.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on PLUG shares. B. Riley cut their price objective on Plug Power from $4.00 to $3.00 and set a "buy" rating for the company in a research report on Wednesday, March 5th. Canaccord Genuity Group dropped their price target on Plug Power from $1.25 to $1.00 and set a "hold" rating for the company in a research note on Tuesday, May 13th. Susquehanna reduced their price objective on Plug Power from $1.80 to $1.25 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Roth Capital reiterated a "buy" rating on shares of Plug Power in a research report on Tuesday, May 13th. Finally, Piper Sandler cut their target price on shares of Plug Power from $1.10 to $0.80 and set an "underweight" rating for the company in a report on Wednesday, May 14th. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $1.83.
Read Our Latest Research Report on Plug Power
Plug Power Trading Up 2.0%
The company's 50 day simple moving average is $0.94 and its 200-day simple moving average is $1.66. The firm has a market cap of $1.00 billion, a P/E ratio of -0.43 and a beta of 2.19. The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15.
Plug Power (NASDAQ:PLUG - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The electronics maker reported ($0.21) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.01). The business had revenue of $133.67 million for the quarter, compared to the consensus estimate of $130.92 million. Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. As a group, research analysts predict that Plug Power Inc. will post -1.21 earnings per share for the current fiscal year.
Insider Transactions at Plug Power
In related news, CFO Paul B. Middleton acquired 350,000 shares of the stock in a transaction on Friday, May 16th. The stock was bought at an average cost of $0.72 per share, with a total value of $252,000.00. Following the transaction, the chief financial officer now directly owns 1,908,064 shares in the company, valued at approximately $1,373,806.08. This represents a 22.46% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.70% of the company's stock.
Institutional Trading of Plug Power
A number of large investors have recently modified their holdings of the company. Oppenheimer & Co. Inc. purchased a new stake in shares of Plug Power in the 4th quarter worth $25,000. Jones Financial Companies Lllp raised its holdings in shares of Plug Power by 107.4% in the fourth quarter. Jones Financial Companies Lllp now owns 11,730 shares of the electronics maker's stock valued at $25,000 after acquiring an additional 6,074 shares in the last quarter. Callan Family Office LLC bought a new stake in shares of Plug Power in the fourth quarter valued at about $27,000. Ground Swell Capital LLC purchased a new stake in Plug Power in the fourth quarter worth about $27,000. Finally, Savant Capital LLC bought a new position in Plug Power during the 4th quarter worth about $31,000. 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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