Plug Power (NASDAQ:PLUG) Shares Up 2.8%

Plug Power Inc. (NASDAQ:PLUG)’s share price shot up 2.8% on Wednesday . The stock traded as high as $2.24 and last traded at $2.21. 11,078,455 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 39,937,238 shares. The stock had previously closed at $2.15.

Wall Street Analyst Weigh In

Several research firms have weighed in on PLUG. TD Cowen lowered 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. Susquehanna lowered their target price on Plug Power from $3.50 to $3.00 and set a “neutral” rating on the stock in a report on Friday, May 10th. B. Riley raised Plug Power to a “strong-buy” rating in a research note on Tuesday, June 25th. HC Wainwright reaffirmed a “buy” rating and set a $18.00 price objective on shares of Plug Power in a research note on Tuesday, May 14th. Finally, Canaccord Genuity Group decreased their price objective on Plug Power from $4.00 to $3.00 and set a “hold” rating on the stock in a research note on Monday, May 13th. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $5.48.

Plug Power Trading Down 0.5 %

The firm has a market capitalization of $1.59 billion, a PE ratio of -0.92 and a beta of 1.81. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.87 and a current ratio of 1.94. The firm has a fifty day moving average of $2.68 and a 200 day moving average of $3.11.

Plug Power (NASDAQ:PLUG) last issued its quarterly earnings data on Thursday, May 9th. The electronics maker reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.11). Plug Power had a negative net margin of 181.96% and a negative return on equity of 43.10%. The business had revenue of $120.26 million for the quarter, compared to analyst estimates of $162.92 million. Equities research analysts expect that Plug Power Inc. will post -1.1 EPS for the current year.

Insider Buying and Selling

In other Plug Power news, Director George C. Mcnamee sold 10,000 shares of Plug Power stock in a transaction on Friday, May 10th. The stock was sold at an average price of $2.56, for a total transaction of $25,600.00. Following the sale, the director now owns 639,572 shares of the company’s stock, valued at approximately $1,637,304.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Plug Power

A number of hedge funds have recently modified their holdings of PLUG. Treasurer of the State of North Carolina grew its holdings in shares of Plug Power by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 233,192 shares of the electronics maker’s stock valued at $1,049,000 after buying an additional 2,280 shares in the last quarter. Prime Capital Investment Advisors LLC grew its holdings in shares of Plug Power by 19.4% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 21,888 shares of the electronics maker’s stock valued at $98,000 after buying an additional 3,556 shares in the last quarter. Stratos Wealth Partners LTD. grew its holdings in shares of Plug Power by 17.6% during the fourth quarter. Stratos Wealth Partners LTD. now owns 25,635 shares of the electronics maker’s stock valued at $115,000 after buying an additional 3,832 shares in the last quarter. Pitcairn Co. grew its stake in Plug Power by 27.1% in the first quarter. Pitcairn Co. now owns 19,561 shares of the electronics maker’s stock valued at $67,000 after purchasing an additional 4,169 shares in the last quarter. Finally, Kestra Private Wealth Services LLC grew its stake in Plug Power by 48.0% in the fourth quarter. Kestra Private Wealth Services LLC now owns 17,505 shares of the electronics maker’s stock valued at $79,000 after purchasing an additional 5,680 shares in the last quarter. 43.48% of the stock is currently owned by institutional investors and hedge funds.

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.