Plug Power Inc. (NASDAQ:PLUG - Get Free Report)'s share price traded up 1.2% on Wednesday . The stock traded as high as $1.36 and last traded at $1.30. 39,362,729 shares were traded during trading, a decline of 41% from the average session volume of 66,433,087 shares. The stock had previously closed at $1.28.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on the company. Piper Sandler lowered their target price on Plug Power from $1.10 to $0.80 and set an "underweight" rating on the stock in a report on Wednesday, May 14th. Wells Fargo & Company lowered their target price on Plug Power from $2.00 to $1.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 14th. HC Wainwright restated a "buy" rating and set a $3.00 target price on shares of Plug Power in a report on Monday, March 24th. UBS Group lowered their target price on Plug Power from $2.50 to $1.75 and set a "neutral" rating on the stock in a report on Friday, March 21st. Finally, Canaccord Genuity Group decreased their price objective on Plug Power from $1.25 to $1.00 and set a "hold" rating on the stock in a report on Tuesday, May 13th. Five equities 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 data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $1.83.
Read Our Latest Report on Plug Power
Plug Power Trading Down 5.8%
The company has a market cap of $1.40 billion, a PE ratio of -0.61 and a beta of 2.17. The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15. The business has a 50-day simple moving average of $0.93 and a 200-day simple moving average of $1.64.
Plug Power (NASDAQ:PLUG - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The electronics maker reported ($0.21) earnings per share 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 for the quarter, compared to analysts' expectations of $130.92 million. On average, analysts predict that Plug Power Inc. will post -1.21 EPS for the current fiscal year.
Insider Transactions at Plug Power
In related news, insider Paul B. Middleton acquired 650,000 shares of the business's stock in a transaction dated Monday, June 9th. The shares were acquired at an average price of $1.03 per share, with a total value of $669,500.00. Following the completion of the transaction, the insider now owns 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.70% of the company's stock.
Institutional Trading of Plug Power
Large investors have recently modified their holdings of the stock. Mariner LLC increased its holdings in Plug Power by 29.7% in the fourth quarter. Mariner LLC now owns 177,839 shares of the electronics maker's stock valued at $379,000 after buying an additional 40,710 shares during the last quarter. Norges Bank purchased a new position in Plug Power in the fourth quarter valued at $146,465,000. Wells Fargo & Company MN increased its holdings in Plug Power by 2.7% in the fourth quarter. Wells Fargo & Company MN now owns 2,685,413 shares of the electronics maker's stock valued at $5,720,000 after buying an additional 70,187 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in Plug Power in the fourth quarter valued at $320,000. Finally, Two Sigma Investments LP increased its holdings in Plug Power by 387.7% in the fourth quarter. Two Sigma Investments LP now owns 969,327 shares of the electronics maker's stock valued at $2,065,000 after buying an additional 770,564 shares during 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.
Further Reading
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