Plug Power (NASDAQ:PLUG) Stock Price Up 0.5%

Plug Power Inc. (NASDAQ:PLUG)’s stock price shot up 0.5% on Monday . The stock traded as high as $2.00 and last traded at $1.98. 6,730,280 shares were traded during mid-day trading, a decline of 83% from the average session volume of 40,028,301 shares. The stock had previously closed at $1.97.

Analyst Ratings Changes

PLUG has been the topic of several recent research reports. TD Cowen lowered their price target on shares of Plug Power from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Truist Financial cut their target price on shares of Plug Power from $3.00 to $2.00 and set a “hold” rating for the company in a research note on Monday. Royal Bank of Canada lowered their price target on shares of Plug Power from $3.50 to $2.50 and set a “sector perform” rating on the stock in a report on Monday. Piper Sandler reduced their price objective on Plug Power from $2.50 to $2.40 and set an “underweight” rating for the company in a report on Monday, July 22nd. Finally, Canaccord Genuity Group lowered their target price on Plug Power from $3.00 to $2.50 and set a “hold” rating on the stock in a research note on Monday. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.19.

Plug Power Stock Up 0.5 %

The company has a quick ratio of 0.87, a current ratio of 1.94 and a debt-to-equity ratio of 0.17. The stock has a 50-day simple moving average of $2.61 and a 200-day simple moving average of $3.08. The firm has a market capitalization of $1.47 billion, a PE ratio of -0.83 and a beta of 1.81.

Plug Power (NASDAQ:PLUG) last posted 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 during the quarter, compared to analysts’ expectations 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 for the quarter was down 44.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.35) EPS. Analysts forecast that Plug Power Inc. will post -1.1 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PLUG. Independent Advisor Alliance bought a new stake in shares of Plug Power in the 4th quarter worth approximately $45,000. Mosley Wealth Management bought a new stake in shares of Plug Power during the 1st quarter valued at $35,000. J.W. Cole Advisors Inc. purchased a new stake in shares of Plug Power in the 1st quarter worth about $36,000. HighPoint Advisor Group LLC purchased a new position in Plug Power during the 4th quarter valued at about $48,000. Finally, HBK Sorce Advisory LLC purchased a new stake in Plug Power during the 1st quarter valued at $37,000. Institutional investors own 43.48% of the company’s stock.

About Plug Power

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.