Plug Power (NASDAQ:PLUG) Shares Down 3.7%

Plug Power Inc. (NASDAQ:PLUGGet Rating)’s share price traded down 3.7% during trading on Friday . The stock traded as low as $15.99 and last traded at $16.17. 96,229 shares traded hands during mid-day trading, a decline of 99% from the average session volume of 17,646,730 shares. The stock had previously closed at $16.79.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. BTIG Research dropped their price objective on Plug Power to $25.00 in a research note on Tuesday, November 15th. Royal Bank of Canada lowered their target price on shares of Plug Power from $24.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, November 9th. Morgan Stanley lowered their target price on shares of Plug Power from $48.00 to $35.00 and set an “overweight” rating on the stock in a report on Tuesday, January 10th. B. Riley decreased their price target on shares of Plug Power from $32.00 to $31.00 and set a “buy” rating on the stock in a report on Thursday, October 20th. Finally, BMO Capital Markets decreased their price target on shares of Plug Power from $22.00 to $18.00 and set a “market perform” rating on the stock in a report on Wednesday, November 9th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.17.

Plug Power Stock Down 1.8 %

The company has a debt-to-equity ratio of 0.13, a current ratio of 6.09 and a quick ratio of 5.23. The company has a market capitalization of $9.61 billion, a P/E ratio of -13.74 and a beta of 1.63. The company has a 50 day moving average of $14.50 and a 200-day moving average of $19.41.

Plug Power (NASDAQ:PLUGGet Rating) last posted its quarterly earnings data on Tuesday, November 8th. The electronics maker reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.05). The firm had revenue of $188.63 million for the quarter, compared to the consensus estimate of $239.94 million. Plug Power had a negative net margin of 107.91% and a negative return on equity of 15.56%. As a group, equities analysts anticipate that Plug Power Inc. will post -1.09 EPS for the current year.

Hedge Funds Weigh In On Plug Power

Several large investors have recently made changes to their positions in PLUG. US Bancorp DE lifted its holdings in shares of Plug Power by 7.9% during the first quarter. US Bancorp DE now owns 11,362 shares of the electronics maker’s stock valued at $324,000 after purchasing an additional 833 shares during the last quarter. MetLife Investment Management LLC purchased a new position in Plug Power in the 1st quarter worth approximately $947,000. Dimensional Fund Advisors LP raised its holdings in Plug Power by 34.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,250,478 shares of the electronics maker’s stock worth $35,771,000 after acquiring an additional 320,262 shares during the last quarter. Blair William & Co. IL raised its holdings in Plug Power by 12.6% in the 1st quarter. Blair William & Co. IL now owns 8,328 shares of the electronics maker’s stock worth $238,000 after acquiring an additional 934 shares during the last quarter. Finally, Prudential PLC purchased a new position in Plug Power in the 1st quarter worth approximately $248,000. 52.07% of the stock is currently owned by hedge funds and other institutional investors.

About Plug Power

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Plug Power Inc delivers end-to-end clean hydrogen and zero-emissions fuel cell solutions for supply chain and logistics applications, on-road electric vehicles, stationary power market, and others in North America and internationally. It engages in building an end-to-end green hydrogen ecosystem, including green hydrogen production, storage and delivery, and energy generation through mobile or stationary applications.

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