Shares of Plug Power, Inc. (NASDAQ:PLUG - Get Free Report) were up 1.4% during mid-day trading on Tuesday . The stock traded as high as $1.20 and last traded at $1.11. Approximately 24,470,917 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 68,020,431 shares. The stock had previously closed at $1.09.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on PLUG shares. UBS Group lowered their price target on Plug Power from $2.50 to $1.75 and set a "neutral" rating on the stock in a research report on Friday, March 21st. Susquehanna decreased their target price on shares of Plug Power from $1.80 to $1.25 and set a "neutral" rating on the stock in a research note on Monday, April 14th. B. Riley reduced their target price on Plug Power from $4.00 to $3.00 and set a "buy" rating on the stock in a report on Wednesday, March 5th. BMO Capital Markets dropped their target price on shares of Plug Power from $1.60 to $1.40 and set an "underperform" rating on the stock in a research report on Wednesday, March 5th. Finally, Morgan Stanley lowered their target price on shares of Plug Power from $1.25 to $0.50 and set an "underweight" rating on the stock in a report on Monday, May 19th. Five analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $1.83.
Check Out Our Latest Report on PLUG
Plug Power Trading Down 6.0%
The business's 50 day moving average is $0.94 and its 200 day moving average is $1.57. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of -0.44 and a beta of 2.17. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.95 and a quick ratio of 1.07.
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 the consensus estimate 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 company had revenue of $133.67 million during the quarter, compared to analyst estimates of $130.92 million. As a group, equities analysts expect that Plug Power, Inc. will post -1.21 earnings per share for the current fiscal year.
Insider Activity at Plug Power
In other Plug Power news, insider Paul B. Middleton purchased 650,000 shares of the firm's 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 purchase, the insider now owns 2,558,064 shares in the company, valued at $2,634,805.92. This trade represents a 34.07% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.41% of the company's stock.
Institutional Investors Weigh In On Plug Power
Hedge funds and other institutional investors have recently made changes to their positions in the company. Oppenheimer & Co. Inc. acquired a new stake in shares of Plug Power during the 4th quarter worth approximately $25,000. Jones Financial Companies Lllp boosted its position in Plug Power by 107.4% in the 4th 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. Callan Family Office LLC acquired a new stake in Plug Power in the fourth quarter worth about $27,000. Ground Swell Capital LLC acquired a new stake in shares of Plug Power during the 4th quarter worth approximately $27,000. Finally, Strategic Investment Solutions Inc. IL lifted its stake in shares of Plug Power by 1,182.4% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 14,696 shares of the electronics maker's stock valued at $31,000 after purchasing an additional 13,550 shares during the period. 43.48% of the stock is owned by hedge funds and other institutional investors.
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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