Plug Power (NASDAQ:PLUG) Trading 0.8% Higher

Plug Power Inc. (NASDAQ:PLUG) shot up 0.8% during trading on Friday . The stock traded as high as $1.99 and last traded at $1.96. 5,029,565 shares were traded during trading, a decline of 87% from the average session volume of 39,244,699 shares. The stock had previously closed at $1.94.

Analyst Ratings Changes

A number of research analysts have weighed in on PLUG shares. Royal Bank of Canada cut their price objective on shares of Plug Power from $3.50 to $2.50 and set a “sector perform” rating on the stock in a research report on Monday, August 12th. Piper Sandler reduced their price objective on shares of Plug Power from $2.50 to $2.40 and set an “underweight” rating on the stock in a research report on Monday, July 22nd. Canaccord Genuity Group dropped their target price on Plug Power from $3.00 to $2.50 and set a “hold” rating for the company in a research report on Monday, August 12th. Morgan Stanley reduced their price target on Plug Power from $3.00 to $2.50 and set an “underweight” rating on the stock in a report on Friday, May 10th. Finally, Craig Hallum decreased their price target on Plug Power from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $5.19.

Plug Power Trading Down 1.3 %

The firm has a market capitalization of $1.42 billion, a PE ratio of -0.81 and a beta of 1.81. The company has a quick ratio of 0.91, a current ratio of 2.07 and a debt-to-equity ratio of 0.16. The company’s 50-day simple moving average is $2.39 and its 200 day simple moving average is $2.90.

Plug Power (NASDAQ:PLUG) last announced its earnings results on Thursday, August 8th. The electronics maker reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.06). The business had revenue of $143.40 million for the quarter, compared to analyst estimates of $184.54 million. Plug Power had a negative net margin of 216.80% and a negative return on equity of 47.51%. The company’s quarterly revenue was down 44.9% on a year-over-year basis. During the same period in the prior year, the company earned ($0.35) earnings per share. As a group, sell-side analysts expect that Plug Power Inc. will post -1.15 EPS for the current year.

Institutional Trading of Plug Power

Large investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Plug Power during the fourth quarter worth about $97,800,000. Swedbank AB acquired a new stake in Plug Power during the 1st quarter valued at approximately $10,687,000. SG Americas Securities LLC boosted its holdings in shares of Plug Power by 134.0% in the 2nd quarter. SG Americas Securities LLC now owns 2,458,537 shares of the electronics maker’s stock valued at $5,728,000 after acquiring an additional 1,407,858 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Plug Power in the fourth quarter worth $5,133,000. Finally, Pinnacle Associates Ltd. raised its holdings in shares of Plug Power by 41.4% during the first quarter. Pinnacle Associates Ltd. now owns 3,775,808 shares of the electronics maker’s stock worth $12,989,000 after purchasing an additional 1,105,813 shares during the last quarter. Hedge funds and other institutional investors own 43.48% of the company’s stock.

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.