Plug Power (NASDAQ:PLUG) Reaches New 12-Month Low at $2.25

Plug Power Inc. (NASDAQ:PLUG)’s share price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $2.25 and last traded at $2.33, with a volume of 10975278 shares changing hands. The stock had previously closed at $2.41.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. HSBC cut their target price on shares of Plug Power from $9.00 to $8.50 and set a “buy” rating for the company in a research report on Tuesday, March 5th. Roth Mkm raised shares of Plug Power from a “neutral” rating to a “buy” rating and boosted their target price for the company from $4.50 to $9.00 in a report on Wednesday, January 31st. Redburn Atlantic initiated coverage on Plug Power in a report on Tuesday, February 6th. They issued a “neutral” rating and a $4.50 price target for the company. Royal Bank of Canada decreased their price objective 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. Finally, B. Riley cut their target price on Plug Power from $18.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday, January 24th. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $6.05.

Plug Power Stock Up 1.3 %

The stock has a 50-day moving average of $3.25 and a two-hundred day moving average of $4.15. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.85 and a quick ratio of 0.86.

Plug Power (NASDAQ:PLUG) last announced its quarterly earnings data on Friday, March 1st. The electronics maker reported ($1.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.52). The business had revenue of $222.20 million during the quarter, compared to the consensus estimate of $234.21 million. Plug Power had a negative return on equity of 38.09% and a negative net margin of 153.57%. The company’s revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.38) earnings per share. On average, equities analysts forecast that Plug Power Inc. will post -0.94 EPS for the current fiscal year.

Institutional Investors Weigh In On Plug Power

Several institutional investors have recently bought and sold shares of the stock. Pinnacle Associates Ltd. lifted its position in Plug Power by 41.4% in the first quarter. Pinnacle Associates Ltd. now owns 3,775,808 shares of the electronics maker’s stock valued at $12,989,000 after purchasing an additional 1,105,813 shares during the last quarter. Gainplan LLC purchased a new stake in Plug Power during the 1st quarter valued at $57,000. PFG Investments LLC boosted its position in Plug Power by 1,017.6% during the 1st quarter. PFG Investments LLC now owns 236,391 shares of the electronics maker’s stock valued at $813,000 after buying an additional 215,240 shares during the period. Aurora Private Wealth Inc. bought a new stake in Plug Power in the 1st quarter worth $49,000. Finally, First Trust Direct Indexing L.P. bought a new position in shares of Plug Power during the first quarter valued at about $75,000. 43.48% of the stock is currently owned by hedge funds and other institutional investors.

Plug Power Company Profile

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.