Plug Power (NASDAQ:PLUG) Trading 0.5% Higher

Plug Power Inc. (NASDAQ:PLUG) rose 0.5% during trading on Monday . The company traded as high as $2.00 and last traded at $1.98. Approximately 6,730,280 shares were traded during trading, a decline of 83% from the average daily volume of 40,028,301 shares. The stock had previously closed at $1.97.

Analyst Upgrades and Downgrades

PLUG has been the topic of several recent research reports. Susquehanna dropped their price objective on shares of Plug Power from $3.00 to $2.00 and set a “neutral” rating on the stock in a report on Monday. TD Cowen dropped their target price on Plug Power from $7.00 to $5.00 and set a “buy” rating on the stock in a report on Friday, May 10th. Royal Bank of Canada lowered their price target on Plug Power from $3.50 to $2.50 and set a “sector perform” rating for the company in a research report on Monday. HC Wainwright reissued a “buy” rating and set a $18.00 price objective on shares of Plug Power in a research report on Tuesday, May 14th. Finally, Wells Fargo & Company decreased their target price on shares of Plug Power from $4.00 to $3.00 and set an “equal weight” rating for the company in a report on Friday. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $5.19.

Plug Power Stock Performance

The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of -0.83 and a beta of 1.81. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.94 and a quick ratio of 0.87. The stock has a 50 day simple moving average of $2.61 and a two-hundred day simple moving average of $3.08.

Plug Power (NASDAQ:PLUG) last issued its earnings results on Thursday, August 8th. The electronics maker reported ($0.36) earnings per share 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 return on equity of 43.10% and a negative net margin of 181.96%. Plug Power’s revenue was down 44.9% on a year-over-year basis. During the same period last year, the business posted ($0.35) EPS. As a group, analysts anticipate that Plug Power Inc. will post -1.1 earnings per share for the current year.

Hedge Funds Weigh In On Plug Power

Large investors have recently bought and sold shares of the stock. International Assets Investment Management LLC lifted its stake in Plug Power by 275.7% in the fourth quarter. International Assets Investment Management LLC now owns 66,573 shares of the electronics maker’s stock valued at $300,000 after buying an additional 48,854 shares during the last quarter. Prime Capital Investment Advisors LLC raised its holdings in shares of Plug Power by 19.4% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 21,888 shares of the electronics maker’s stock worth $98,000 after purchasing an additional 3,556 shares during the period. Stratos Wealth Partners LTD. lifted its holdings in Plug Power by 17.6% in the 4th quarter. Stratos Wealth Partners LTD. now owns 25,635 shares of the electronics maker’s stock worth $115,000 after buying an additional 3,832 shares in the last quarter. Cerity Partners LLC purchased a new position in Plug Power in the 4th quarter valued at about $755,000. Finally, Waldron Private Wealth LLC acquired a new stake in shares of Plug Power during the fourth quarter valued at about $60,000. 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.