Plug Power (NASDAQ:PLUG) Shares Down 1.5%

Plug Power Inc. (NASDAQ:PLUGGet Free Report)’s stock price fell 1.5% during mid-day trading on Monday . The company traded as low as $3.31 and last traded at $3.36. 9,301,710 shares traded hands during trading, a decline of 80% from the average session volume of 45,720,254 shares. The stock had previously closed at $3.41.

Wall Street Analyst Weigh In

PLUG has been the topic of several research reports. Royal Bank of Canada cut their target price on Plug Power from $5.00 to $3.50 and set a “sector perform” rating on the stock in a research note on Wednesday, January 24th. Craig Hallum reduced their target price on shares of Plug Power from $6.00 to $5.00 and set a “buy” rating for the company in a report on Monday, March 4th. Susquehanna cut their price target on shares of Plug Power from $4.50 to $3.50 and set a “neutral” rating on the stock in a research report on Wednesday, January 24th. Roth Mkm upgraded Plug Power from a “neutral” rating to a “buy” rating and raised their price objective for the company from $4.50 to $9.00 in a report on Wednesday, January 31st. Finally, Redburn Atlantic began coverage on Plug Power in a research report on Tuesday, February 6th. They set a “neutral” rating and a $4.50 price target for the company. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $6.20.

Check Out Our Latest Stock Analysis on Plug Power

Plug Power Stock Performance

The firm’s fifty day simple moving average is $3.67 and its 200 day simple moving average is $4.85. The company has a quick ratio of 0.86, a current ratio of 1.85 and a debt-to-equity ratio of 0.18.

Plug Power (NASDAQ:PLUGGet Free Report) last announced its quarterly earnings data on Friday, March 1st. The electronics maker reported ($1.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.52). The firm had revenue of $222.20 million during the quarter, compared to the consensus estimate of $234.21 million. Plug Power had a negative net margin of 153.57% and a negative return on equity of 38.09%. The business’s revenue was up .7% compared to the same quarter last year. During the same period last year, the business earned ($0.38) earnings per share. Equities research analysts forecast that Plug Power Inc. will post -0.97 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Plug Power

A number of hedge funds have recently made changes to their positions in the stock. Natixis Advisors L.P. lifted its stake in Plug Power by 0.9% in the 2nd quarter. Natixis Advisors L.P. now owns 79,424 shares of the electronics maker’s stock valued at $1,316,000 after purchasing an additional 723 shares during the last quarter. US Bancorp DE lifted its stake in shares of Plug Power by 7.9% in the 1st quarter. US Bancorp DE now owns 11,362 shares of the electronics maker’s stock valued at $324,000 after acquiring an additional 833 shares during the last quarter. Ethic Inc. lifted its stake in shares of Plug Power by 8.2% in the 1st quarter. Ethic Inc. now owns 12,098 shares of the electronics maker’s stock valued at $346,000 after acquiring an additional 914 shares during the last quarter. Blair William & Co. IL boosted its holdings in shares of Plug Power by 12.6% during the 1st quarter. Blair William & Co. IL now owns 8,328 shares of the electronics maker’s stock valued at $238,000 after acquiring an additional 934 shares in the last quarter. Finally, Neuberger Berman Group LLC grew its position in Plug Power by 7.3% during the 1st quarter. Neuberger Berman Group LLC now owns 13,972 shares of the electronics maker’s stock worth $400,000 after acquiring an additional 946 shares during the last quarter. 43.48% of the stock is currently 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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