Plug Power (NASDAQ:PLUG) Shares Gap Up to $2.41

Plug Power Inc. (NASDAQ:PLUG) gapped up before the market opened on Monday . The stock had previously closed at $2.41, but opened at $2.51. Plug Power shares last traded at $2.52, with a volume of 6,596,754 shares.

Wall Street Analyst Weigh In

PLUG has been the topic of a number of research reports. Piper Sandler upped their price target on shares of Plug Power from $2.80 to $2.90 and gave the company an “underweight” rating in a research note on Tuesday, March 5th. Roth Mkm raised Plug Power from a “neutral” rating to a “buy” rating and upped their price objective for the company from $4.50 to $9.00 in a report on Wednesday, January 31st. Evercore ISI reduced their target price on shares of Plug Power from $9.00 to $6.00 and set an “outperform” rating for the company in a research report on Monday, March 4th. Seaport Res Ptn downgraded shares of Plug Power from a “buy” rating to a “neutral” rating in a report on Tuesday, February 6th. Finally, Marathon Capitl reiterated an “equal weight” rating on shares of Plug Power in a research report on Tuesday, March 26th. Four 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 company. According to MarketBeat.com, Plug Power has a consensus rating of “Hold” and a consensus target price of $6.05.

Plug Power Trading Down 3.7 %

The firm’s 50 day moving average is $3.22 and its two-hundred day moving average is $4.07. The company has a quick ratio of 0.86, a current ratio of 1.85 and a debt-to-equity ratio of 0.18.

Plug Power (NASDAQ:PLUG) last issued its quarterly earnings data on Friday, March 1st. The electronics maker reported ($1.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.52). The firm had revenue of $222.20 million during the quarter, compared to the consensus estimate of $234.21 million. Plug Power had a negative return on equity of 38.09% and a negative net margin of 153.57%. The company’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the previous year, the company posted ($0.38) earnings per share. As a group, sell-side analysts predict that Plug Power Inc. will post -0.94 earnings per share for the current fiscal year.

Institutional Trading of Plug Power

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Plug Power by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 53,987,285 shares of the electronics maker’s stock valued at $242,943,000 after buying an additional 283,376 shares in the last quarter. Norges Bank bought a new position in Plug Power in the 4th quarter worth about $97,800,000. Robeco Schweiz AG grew its holdings in Plug Power by 3.9% during the 3rd quarter. Robeco Schweiz AG now owns 6,201,500 shares of the electronics maker’s stock valued at $47,131,000 after buying an additional 235,000 shares in the last quarter. Pinnacle Associates Ltd. lifted its holdings in shares of Plug Power by 41.4% in the first quarter. Pinnacle Associates Ltd. now owns 3,775,808 shares of the electronics maker’s stock worth $12,989,000 after buying an additional 1,105,813 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Plug Power by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,374,782 shares of the electronics maker’s stock valued at $15,187,000 after acquiring an additional 102,095 shares in 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.