Plug Power (NASDAQ:PLUG) Trading 1.2% Higher – What’s Next?

Plug Power Inc. (NASDAQ:PLUG)’s share price was up 1.2% on Thursday . The stock traded as high as $2.12 and last traded at $2.06. Approximately 21,558,657 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 78,011,633 shares. The stock had previously closed at $2.03.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on PLUG shares. StockNews.com raised Plug Power to a “sell” rating in a research note on Wednesday. Piper Sandler dropped their price target on Plug Power from $1.60 to $1.40 and set an “underweight” rating on the stock in a research report on Thursday, November 14th. Wells Fargo & Company reduced their price target on shares of Plug Power from $3.00 to $2.00 and set an “equal weight” rating for the company in a report on Thursday, November 14th. Craig Hallum decreased their price objective on Plug Power from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Finally, HC Wainwright restated a “buy” rating and issued a $18.00 price objective on shares of Plug Power in a research note on Wednesday, November 13th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $4.46.

Plug Power Stock Down 0.5 %

The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of -0.97 and a beta of 1.79. The firm has a 50 day moving average of $2.36 and a two-hundred day moving average of $2.24.

Plug Power (NASDAQ:PLUG) last posted its quarterly earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). The company had revenue of $173.70 million during the quarter, compared to analyst estimates of $207.25 million. Plug Power had a negative net margin of 214.05% and a negative return on equity of 46.99%. The company’s revenue for the quarter was down 12.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.47) earnings per share. As a group, sell-side analysts anticipate that Plug Power Inc. will post -1.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. American Century Companies Inc. boosted its holdings in shares of Plug Power by 16.2% during the 2nd quarter. American Century Companies Inc. now owns 572,938 shares of the electronics maker’s stock valued at $1,335,000 after acquiring an additional 79,802 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Plug Power by 20.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,109,530 shares of the electronics maker’s stock valued at $2,588,000 after purchasing an additional 187,205 shares during the last quarter. Profund Advisors LLC acquired a new stake in shares of Plug Power during the second quarter valued at about $29,000. Gabelli Funds LLC grew its holdings in shares of Plug Power by 20.0% during the second quarter. Gabelli Funds LLC now owns 300,000 shares of the electronics maker’s stock worth $699,000 after purchasing an additional 50,000 shares during the last quarter. Finally, Xponance Inc. grew its holdings in shares of Plug Power by 118.4% during the second quarter. Xponance Inc. now owns 40,035 shares of the electronics maker’s stock worth $93,000 after purchasing an additional 21,707 shares during 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.