Plug Power (NASDAQ:PLUG) Shares Up 0.3%

Shares of Plug Power Inc. (NASDAQ:PLUG) traded up 0.3% during trading on Thursday . The stock traded as high as $3.51 and last traded at $3.44. 8,336,218 shares traded hands during trading, a decline of 81% from the average session volume of 44,740,172 shares. The stock had previously closed at $3.43.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on PLUG shares. 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 research report on Wednesday, February 28th. Evercore ISI dropped their price objective on shares of Plug Power from $9.00 to $6.00 and set an “outperform” rating for the company in a report on Monday, March 4th. Canaccord Genuity Group dropped their price objective on shares of Plug Power from $5.00 to $4.00 and set a “hold” rating for the company in a report on Monday, March 4th. Seaport Res Ptn cut shares of Plug Power from a “buy” rating to a “neutral” rating in a report on Tuesday, February 6th. Finally, Susquehanna lowered their target price 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. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $6.20.

Plug Power Stock Up 0.3 %

The firm has a market cap of $2.35 billion, a price-to-earnings ratio of -1.50 and a beta of 1.56. The firm’s fifty day moving average is $3.68 and its two-hundred day moving average is $4.84. 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 posted its quarterly earnings data on Friday, March 1st. The electronics maker reported ($1.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.52). Plug Power had a negative net margin of 153.57% and a negative return on equity of 38.09%. The firm had revenue of $222.20 million for the quarter, compared to analysts’ expectations of $234.21 million. During the same period in the prior year, the company posted ($0.38) earnings per share. Plug Power’s quarterly revenue was up .7% compared to the same quarter last year. On average, sell-side analysts expect that Plug Power Inc. will post -0.97 EPS for the current fiscal year.

Hedge Funds Weigh In On Plug Power

A number of large investors have recently made changes to their positions in the business. Natixis Advisors L.P. increased its holdings in shares of 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 period. US Bancorp DE increased its holdings in Plug Power by 7.9% in the first quarter. US Bancorp DE now owns 11,362 shares of the electronics maker’s stock worth $324,000 after buying an additional 833 shares during the last quarter. Ethic Inc. increased its holdings in Plug Power by 8.2% in the first quarter. Ethic Inc. now owns 12,098 shares of the electronics maker’s stock worth $346,000 after buying an additional 914 shares during the last quarter. Blair William & Co. IL increased its holdings in Plug Power by 12.6% in the first quarter. Blair William & Co. IL now owns 8,328 shares of the electronics maker’s stock worth $238,000 after buying an additional 934 shares during the last quarter. Finally, Neuberger Berman Group LLC increased its holdings in Plug Power by 7.3% in the first quarter. Neuberger Berman Group LLC now owns 13,972 shares of the electronics maker’s stock worth $400,000 after buying an additional 946 shares during the last quarter. Institutional investors and hedge funds 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.