Plug Power (NASDAQ:PLUG) Stock Price Up 9.8%

Plug Power Inc. (NASDAQ:PLUG)’s share price shot up 9.8% on Friday . The stock traded as high as $2.75 and last traded at $2.69. 17,037,545 shares changed hands during trading, a decline of 57% from the average session volume of 39,606,098 shares. The stock had previously closed at $2.45.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on PLUG shares. Piper Sandler upped their target price on Plug Power from $2.80 to $2.90 and gave the company an “underweight” rating in a research report on Tuesday, March 5th. B. Riley lowered their price objective on Plug Power from $18.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, January 24th. Truist Financial lifted their target price on shares of Plug Power from $3.00 to $4.00 and gave the company a “hold” rating in a report on Wednesday, February 28th. Susquehanna cut their price objective on shares of Plug Power from $4.50 to $3.50 and set a “neutral” rating for the company in a report on Wednesday, January 24th. Finally, Evercore ISI dropped their target price on Plug Power from $9.00 to $6.00 and set an “outperform” rating on the stock in a research report on Monday, March 4th. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Plug Power currently has an average rating of “Hold” and an average price target of $6.05.

Plug Power Stock Up 11.8 %

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 company has a market capitalization of $1.91 billion, a PE ratio of -1.20 and a beta of 1.64. The business’s 50 day simple moving average is $3.15 and its 200 day simple moving average is $3.96.

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

Institutional Investors Weigh In On Plug Power

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Exchange Traded Concepts LLC raised its position in Plug Power by 30.3% in the third quarter. Exchange Traded Concepts LLC now owns 6,486 shares of the electronics maker’s stock valued at $49,000 after purchasing an additional 1,510 shares during the period. Commonwealth Equity Services LLC lifted its stake in Plug Power by 7.0% during the 3rd quarter. Commonwealth Equity Services LLC now owns 348,493 shares of the electronics maker’s stock worth $2,649,000 after acquiring an additional 22,787 shares in the last quarter. Raymond James & Associates grew its position in Plug Power by 2.2% in the 3rd quarter. Raymond James & Associates now owns 83,433 shares of the electronics maker’s stock valued at $634,000 after acquiring an additional 1,783 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of Plug Power by 25.7% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 196,558 shares of the electronics maker’s stock worth $1,494,000 after purchasing an additional 40,144 shares in the last quarter. Finally, Stratos Wealth Advisors LLC purchased a new position in shares of Plug Power in the third quarter valued at approximately $84,000. 43.48% of the stock is 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.