Plug Power, Inc. (NASDAQ:PLUG - Get Free Report)'s share price was up 19.4% during mid-day trading on Wednesday . The stock traded as high as $1.74 and last traded at $1.70. Approximately 100,022,951 shares changed hands during trading, an increase of 42% from the average daily volume of 70,470,658 shares. The stock had previously closed at $1.42.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on PLUG shares. Canaccord Genuity Group lowered their price objective on shares of Plug Power from $1.25 to $1.00 and set a "hold" rating on the stock in a research report on Tuesday, May 13th. HC Wainwright reaffirmed a "buy" rating and issued a $3.00 target price on shares of Plug Power in a report on Monday, March 24th. UBS Group lowered their target price on shares of Plug Power from $2.50 to $1.75 and set a "neutral" rating on the stock in a report on Friday, March 21st. Susquehanna lowered their target price on shares of Plug Power from $1.80 to $1.25 and set a "neutral" rating on the stock in a report on Monday, April 14th. Finally, Roth Capital reaffirmed a "buy" rating on shares of Plug Power in a report on Tuesday, May 13th. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $1.83.
Read Our Latest Research Report on PLUG
Plug Power Price Performance
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 $2.04 billion, a price-to-earnings ratio of -0.72 and a beta of 2.29. The company's 50 day moving average is $1.03 and its 200 day moving average is $1.49.
Plug Power (NASDAQ:PLUG - Get Free Report) last announced its earnings results on Monday, May 12th. The electronics maker reported ($0.21) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.01). The business had revenue of $133.67 million for the quarter, compared to analyst estimates of $130.92 million. Plug Power had a negative return on equity of 82.21% and a negative net margin of 312.29%. Research analysts forecast that Plug Power, Inc. will post -1.21 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, insider Paul B. Middleton bought 650,000 shares of the stock in a transaction on Monday, June 9th. The stock was purchased at an average cost of $1.03 per share, with a total value of $669,500.00. Following the purchase, the insider owned 2,558,064 shares of the company's stock, valued at approximately $2,634,805.92. The trade was a 34.07% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.41% of the company's stock.
Institutional Trading of Plug Power
Several hedge funds and other institutional investors have recently bought and sold shares of PLUG. Norges Bank purchased a new stake in Plug Power in the 4th quarter worth approximately $146,465,000. Heights Capital Management Inc. purchased a new stake in shares of Plug Power during the 1st quarter valued at $31,174,000. Point72 Asset Management L.P. purchased a new stake in shares of Plug Power during the 4th quarter valued at $10,370,000. Vanguard Group Inc. grew its stake in shares of Plug Power by 5.4% during the 4th quarter. Vanguard Group Inc. now owns 87,438,503 shares of the electronics maker's stock valued at $186,244,000 after buying an additional 4,491,114 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in shares of Plug Power during the 4th quarter valued at $6,235,000. 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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Plug Power, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Plug Power wasn't on the list.
While Plug Power currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Discover the 10 Best High-Yield Dividend Stocks for 2025 and secure reliable income in uncertain markets. Download the report now to identify top dividend payers and avoid common yield traps.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.