Plug Power (NASDAQ:PLUG) Shares Down 3.9%

Plug Power Inc. (NASDAQ:PLUG)’s stock price traded down 3.9% during mid-day trading on Monday . The stock traded as low as $2.46 and last traded at $2.47. 8,420,506 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 40,591,910 shares. The stock had previously closed at $2.57.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. HSBC dropped their target price on Plug Power from $9.00 to $8.50 and set a “buy” rating for the company in a report on Tuesday, March 5th. Evercore ISI lowered their price target on Plug Power from $9.00 to $6.00 and set an “outperform” rating for the company in a report on Monday, March 4th. Roth Mkm upgraded Plug Power from a “neutral” rating to a “buy” rating and increased their price target for the stock from $4.50 to $9.00 in a report on Wednesday, January 31st. Canaccord Genuity Group lowered their price target on Plug Power from $5.00 to $4.00 and set a “hold” rating for the company in a report on Monday, March 4th. Finally, Royal Bank of Canada lowered their price target on Plug Power from $5.00 to $3.50 and set a “sector perform” rating for the company in a report on Wednesday, January 24th. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Plug Power currently has a consensus rating of “Hold” and a consensus price target of $6.05.

Plug Power Trading Up 4.0 %

The company has a debt-to-equity ratio of 0.18, a current ratio of 1.85 and a quick ratio of 0.86. The business has a 50-day simple moving average of $3.35 and a 200-day simple moving average of $4.21.

Plug Power (NASDAQ:PLUG) last posted its quarterly earnings results 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 company had revenue of $222.20 million during the quarter, compared to analyst estimates of $234.21 million. Plug Power had a negative net margin of 153.57% and a negative return on equity of 38.09%. Plug Power’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the prior year, the business earned ($0.38) EPS. Equities analysts forecast that Plug Power Inc. will post -0.94 EPS for the current fiscal year.

Institutional Investors Weigh In On Plug Power

A number of hedge funds have recently bought and sold shares of PLUG. Millburn Ridgefield Corp acquired a new stake in Plug Power in the 3rd quarter valued at about $29,000. Mosley Wealth Management acquired a new stake in shares of Plug Power during the 1st quarter worth about $35,000. FAS Wealth Partners Inc. acquired a new stake in shares of Plug Power during the 4th quarter worth about $45,000. Independent Advisor Alliance acquired a new stake in shares of Plug Power during the 4th quarter worth about $45,000. Finally, HighPoint Advisor Group LLC acquired a new stake in shares of Plug Power during the 4th quarter worth about $48,000. Institutional investors and hedge funds own 43.48% of the company’s stock.

About Plug Power

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.