Plug Power Inc. (NASDAQ:PLUG - Get Free Report) shares traded up 12.1% during trading on Friday . The company traded as high as $1.01 and last traded at $0.98. 100,723,400 shares changed hands during mid-day trading, an increase of 55% from the average session volume of 64,856,263 shares. The stock had previously closed at $0.87.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on the company. UBS Group dropped their price target on Plug Power from $2.50 to $1.75 and set a "neutral" rating for the company in a research note on Friday, March 21st. Jefferies Financial Group dropped their price target 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. Wells Fargo & Company dropped their price target on Plug Power from $2.00 to $1.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 14th. BMO Capital Markets dropped their price target on Plug Power from $1.60 to $1.40 and set an "underperform" rating for the company in a research note on Wednesday, March 5th. Finally, Roth Capital reiterated a "buy" rating on shares of Plug Power in a research note on Tuesday, May 13th. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $1.83.
Read Our Latest Report on Plug Power
Plug Power Stock Up 11.2%
The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of -0.45 and a beta of 2.17. The stock has a fifty day moving average of $0.92 and a two-hundred day moving average of $1.65. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.08 and a quick ratio of 0.95.
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 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 business had revenue of $133.67 million for the quarter, compared to analyst estimates of $130.92 million. Sell-side analysts anticipate that Plug Power Inc. will post -1.21 earnings per share for the current year.
Insiders Place Their Bets
In other Plug Power news, CFO Paul B. Middleton purchased 350,000 shares of the firm's stock in a transaction on Friday, May 16th. The stock was purchased at an average cost of $0.72 per share, for a total transaction of $252,000.00. Following the acquisition, the chief financial officer now owns 1,908,064 shares in the company, valued at approximately $1,373,806.08. The trade was a 22.46% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.70% of the company's stock.
Institutional Trading of Plug Power
Several large investors have recently made changes to their positions in PLUG. Mariner LLC boosted 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 worth $379,000 after acquiring an additional 40,710 shares in the last quarter. Norges Bank acquired a new stake in Plug Power in the fourth quarter valued at approximately $146,465,000. Wells Fargo & Company MN grew its stake 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 acquiring an additional 70,187 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in Plug Power in the fourth quarter valued at approximately $320,000. Finally, Two Sigma Investments LP grew its stake 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 acquiring an additional 770,564 shares during the period. 43.48% of the stock is currently owned by institutional investors and hedge funds.
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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