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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