Plug Power (NASDAQ:PLUG) Trading Down 2.5%

Plug Power Inc. (NASDAQ:PLUG)’s stock price fell 2.5% during trading on Monday . The stock traded as low as $1.91 and last traded at $1.91. 5,319,831 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 38,819,648 shares. The stock had previously closed at $1.96.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PLUG. Royal Bank of Canada dropped their price objective on shares of Plug Power from $3.50 to $2.50 and set a “sector perform” rating on the stock in a research note on Monday, August 12th. B. Riley raised Plug Power to a “strong-buy” rating in a research report on Tuesday, June 25th. Susquehanna reduced their price target on Plug Power from $3.00 to $2.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Craig Hallum dropped their price objective on Plug Power from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, Truist Financial cut their target price on Plug Power from $3.00 to $2.00 and set a “hold” rating on the stock in a research note on Monday, August 12th. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Plug Power presently has an average rating of “Hold” and an average price target of $5.19.

Plug Power Stock Up 0.5 %

The company has a quick ratio of 0.91, a current ratio of 2.07 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $1.56 billion, a price-to-earnings ratio of -0.90 and a beta of 1.79. The business’s 50-day moving average is $2.24 and its 200-day moving average is $2.72.

Plug Power (NASDAQ:PLUG) last released its quarterly earnings data on Thursday, August 8th. The electronics maker reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.06). Plug Power had a negative net margin of 216.80% and a negative return on equity of 47.51%. The company had revenue of $143.40 million for the quarter, compared to analysts’ expectations of $184.54 million. During the same quarter in the previous year, the business posted ($0.35) EPS. The business’s quarterly revenue was down 44.9% on a year-over-year basis. As a group, equities analysts predict that Plug Power Inc. will post -1.15 earnings per share for the current year.

Institutional Investors Weigh In On Plug Power

Several hedge funds have recently bought and sold shares of PLUG. Vanguard Group Inc. increased its holdings in shares of Plug Power by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 54,986,479 shares of the electronics maker’s stock valued at $189,153,000 after purchasing an additional 999,194 shares in the last quarter. Norges Bank purchased a new position in Plug Power in the fourth quarter valued at $97,800,000. Pinnacle Associates Ltd. raised its position 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 acquiring an additional 1,105,813 shares during the period. Van ECK Associates Corp boosted its stake in shares of Plug Power by 37.0% during the 2nd quarter. Van ECK Associates Corp now owns 3,422,814 shares of the electronics maker’s stock worth $7,975,000 after acquiring an additional 923,579 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Plug Power by 3.1% during the 4th 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 during the period. Hedge funds and other 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.