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Plug Power (NASDAQ:PLUG) Trading 1.4% Higher - Time to Buy?

Plug Power logo with Industrials background

Plug Power, Inc. (NASDAQ:PLUG - Get Free Report) was up 1.4% during trading on Tuesday . The company traded as high as $1.20 and last traded at $1.11. Approximately 24,470,917 shares changed hands during trading, a decline of 64% from the average daily volume of 68,020,431 shares. The stock had previously closed at $1.09.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PLUG. Canaccord Genuity Group lowered their price target on shares of Plug Power from $1.25 to $1.00 and set a "hold" rating for the company in a report on Tuesday, May 13th. UBS Group decreased their price objective on shares of Plug Power from $2.50 to $1.75 and set a "neutral" rating for the company in a research report on Friday, March 21st. 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. BMO Capital Markets cut their price target on Plug Power from $1.60 to $1.40 and set an "underperform" rating on the stock in a research note on Wednesday, March 5th. Finally, Morgan Stanley lowered their price objective on Plug Power from $1.25 to $0.50 and set an "underweight" rating for the company in a research note on Monday, May 19th. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Plug Power presently has a consensus rating of "Hold" and an average target price of $1.83.

Check Out Our Latest Stock Analysis on Plug Power

Plug Power Trading Down 5.3%

The business's fifty day simple moving average is $0.94 and its 200 day simple moving average is $1.56. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.95 and a quick ratio of 1.07. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of -0.47 and a beta of 2.17.

Plug Power (NASDAQ:PLUG - Get Free Report) last announced 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 net margin of 312.29% and a negative return on equity of 82.21%. The business had revenue of $133.67 million for the quarter, compared to the consensus estimate of $130.92 million. On average, research analysts predict that Plug Power, Inc. will post -1.21 EPS for the current year.

Insider Transactions at Plug Power

In other news, insider Paul B. Middleton purchased 650,000 shares of Plug Power stock in a transaction dated Monday, June 9th. The stock was bought at an average price of $1.03 per share, with a total value of $669,500.00. Following the completion of the acquisition, the insider now owns 2,558,064 shares in the company, valued at $2,634,805.92. The trade was a 34.07% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.41% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PLUG. Jones Financial Companies Lllp raised its holdings in shares of Plug Power by 107.4% during the fourth quarter. Jones Financial Companies Lllp now owns 11,730 shares of the electronics maker's stock valued at $25,000 after buying an additional 6,074 shares during the last quarter. Oppenheimer & Co. Inc. bought a new stake in Plug Power during the 4th quarter valued at $25,000. Miracle Mile Advisors LLC bought a new stake in Plug Power during the 1st quarter valued at $26,000. Callan Family Office LLC acquired a new position in Plug Power during the 4th quarter worth $27,000. Finally, Ground Swell Capital LLC bought a new position in shares of Plug Power in the fourth quarter worth $27,000. 43.48% of the stock is 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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