Plug Power (NASDAQ:PLUG) Trading 12% Higher

Plug Power Inc. (NASDAQ:PLUGGet Rating) shares traded up 12% during mid-day trading on Friday . The stock traded as high as $16.03 and last traded at $15.96. 1,127,133 shares traded hands during trading, a decline of 95% from the average session volume of 20,962,854 shares. The stock had previously closed at $14.25.

Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Plug Power from $42.00 to $38.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 2nd. Craig Hallum reduced their price objective on shares of Plug Power from $49.00 to $31.00 in a research note on Tuesday, May 10th. Canaccord Genuity Group reduced their price objective on shares of Plug Power from $25.00 to $21.00 and set a “hold” rating on the stock in a research note on Monday, March 7th. Royal Bank of Canada reduced their price objective on shares of Plug Power from $39.00 to $33.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 2nd. Finally, KeyCorp reissued an “overweight” rating and set a $40.00 price objective on shares of Plug Power in a research note on Thursday, June 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $34.68.

The firm has a market capitalization of $9.12 billion, a PE ratio of -16.04 and a beta of 1.73. The firm’s 50 day moving average price is $19.50 and its two-hundred day moving average price is $23.84. The company has a quick ratio of 10.51, a current ratio of 11.44 and a debt-to-equity ratio of 0.12.

Plug Power (NASDAQ:PLUGGet Rating) last posted its quarterly earnings data on Monday, May 9th. The electronics maker reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.11). Plug Power had a negative net margin of 97.29% and a negative return on equity of 11.78%. The company had revenue of $140.80 million for the quarter, compared to the consensus estimate of $142.99 million. During the same quarter last year, the company earned ($0.12) earnings per share. The company’s revenue was up 95.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Plug Power Inc. will post -0.67 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Webster Bank N. A. boosted its stake in Plug Power by 62.4% during the 1st quarter. Webster Bank N. A. now owns 1,015 shares of the electronics maker’s stock valued at $29,000 after acquiring an additional 390 shares during the last quarter. Flputnam Investment Management Co. lifted its position in shares of Plug Power by 6.2% in the 4th quarter. Flputnam Investment Management Co. now owns 8,361 shares of the electronics maker’s stock worth $236,000 after buying an additional 485 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Plug Power by 5.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 10,058 shares of the electronics maker’s stock worth $284,000 after buying an additional 488 shares during the last quarter. Vigilant Capital Management LLC lifted its position in shares of Plug Power by 9.5% in the 1st quarter. Vigilant Capital Management LLC now owns 5,750 shares of the electronics maker’s stock worth $165,000 after buying an additional 500 shares during the last quarter. Finally, Clearstead Advisors LLC lifted its position in shares of Plug Power by 19.6% in the 1st quarter. Clearstead Advisors LLC now owns 3,045 shares of the electronics maker’s stock worth $87,000 after buying an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 52.07% of the company’s stock.

About Plug Power (NASDAQ:PLUG)

Plug Power Inc provides hydrogen fuel cell turnkey solutions for the mobility, material handling, and stationary power markets in North America and internationally. It focuses on proton exchange membrane (PEM) fuel cell and fuel processing technologies, and fuel cell/battery hybrid technologies, as well as related hydrogen and green hydrogen generation, storage, and dispensing infrastructure.

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