Plug Power Inc (NASDAQ:PLUG) was up 6.7% during trading on Monday . The stock traded as high as $2.25 and last traded at $2.23, approximately 2,850,441 shares traded hands during trading. A decline of 31% from the average daily volume of 4,117,146 shares. The stock had previously closed at $2.09.
Several research firms recently weighed in on PLUG. HC Wainwright reissued a “buy” rating and set a $4.00 price target on shares of Plug Power in a research report on Wednesday, August 7th. BidaskClub lowered Plug Power from a “hold” rating to a “sell” rating in a research report on Saturday, August 10th. Finally, Zacks Investment Research raised Plug Power from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $2.58.
The company has a quick ratio of 1.14, a current ratio of 1.49 and a debt-to-equity ratio of 66.88. The firm has a 50-day moving average of $2.21 and a two-hundred day moving average of $2.24. The stock has a market capitalization of $561.88 million, a price-to-earnings ratio of -6.19 and a beta of 1.47.
Plug Power (NASDAQ:PLUG) last issued its earnings results on Tuesday, August 6th. The electronics maker reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.02. Plug Power had a negative return on equity of 6,435.09% and a negative net margin of 44.51%. The company had revenue of $57.07 million for the quarter, compared to analyst estimates of $52.47 million. During the same period in the prior year, the firm posted ($0.08) EPS. The business’s revenue was up 62.0% compared to the same quarter last year. As a group, sell-side analysts predict that Plug Power Inc will post -0.36 EPS for the current year.
Hedge funds have recently modified their holdings of the business. Mercer Global Advisors Inc. ADV acquired a new position in Plug Power in the 1st quarter worth about $25,000. Private Advisor Group LLC increased its position in Plug Power by 55.1% in the 2nd quarter. Private Advisor Group LLC now owns 15,850 shares of the electronics maker’s stock worth $36,000 after purchasing an additional 5,633 shares during the last quarter. FormulaFolio Investments LLC increased its position in Plug Power by 52.8% in the 1st quarter. FormulaFolio Investments LLC now owns 16,200 shares of the electronics maker’s stock worth $39,000 after purchasing an additional 5,600 shares during the last quarter. Legal & General Group Plc increased its position in Plug Power by 27.4% in the 4th quarter. Legal & General Group Plc now owns 39,763 shares of the electronics maker’s stock worth $50,000 after purchasing an additional 8,556 shares during the last quarter. Finally, Fosun International Ltd acquired a new position in Plug Power in the 2nd quarter worth about $53,000. 31.36% of the stock is currently owned by institutional investors.
Plug Power Company Profile (NASDAQ:PLUG)
Plug Power Inc, an alternative energy technology provider, engages in the design, development, manufacture, and commercialization of hydrogen and fuel cell systems for the material handling and stationary power markets primarily in North America and Europe. It focuses on proton exchange membrane (PEM) fuel cell and fuel processing technologies, fuel cell/battery hybrid technologies, and related hydrogen storage and dispensing infrastructure.
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