Plug Power (NASDAQ:PLUG) Shares Up 2.6%

Plug Power Inc. (NASDAQ:PLUG) was up 2.6% during mid-day trading on Monday . The stock traded as high as $2.02 and last traded at $1.99. Approximately 9,482,204 shares changed hands during trading, a decline of 76% from the average daily volume of 39,244,727 shares. The stock had previously closed at $1.94.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on PLUG shares. B. Riley upgraded Plug Power to a “strong-buy” rating in a research report on Tuesday, June 25th. Royal Bank of Canada dropped their target price on Plug Power from $3.50 to $2.50 and set a “sector perform” rating on the stock in a research report on Monday, August 12th. Truist Financial dropped their target price on Plug Power from $3.00 to $2.00 and set a “hold” rating on the stock in a research report on Monday, August 12th. Canaccord Genuity Group dropped their target price on Plug Power from $3.00 to $2.50 and set a “hold” rating on the stock in a research report on Monday, August 12th. Finally, Wells Fargo & Company decreased their price target on Plug Power from $4.00 to $3.00 and set an “equal weight” rating on the stock in a research note on Friday, August 9th. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $5.19.

Plug Power Trading Up 2.6 %

The stock has a market cap of $1.48 billion, a PE ratio of -0.83 and a beta of 1.79. The business has a 50 day moving average of $2.18 and a 200-day moving average of $2.68. The company has a current ratio of 2.07, a quick ratio of 0.91 and a debt-to-equity ratio of 0.16.

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

Institutional Trading of Plug Power

Large investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. boosted its position in Plug Power by 23.5% in the 4th quarter. Victory Capital Management Inc. now owns 72,715 shares of the electronics maker’s stock valued at $327,000 after buying an additional 13,838 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Plug Power by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,374,782 shares of the electronics maker’s stock worth $15,187,000 after acquiring an additional 102,095 shares during the last quarter. Neuberger Berman Group LLC lifted its holdings in Plug Power by 39.4% in the fourth quarter. Neuberger Berman Group LLC now owns 47,296 shares of the electronics maker’s stock worth $213,000 after acquiring an additional 13,377 shares during the last quarter. IPG Investment Advisors LLC bought a new position in Plug Power in the fourth quarter worth about $101,000. Finally, RPO LLC bought a new position in Plug Power in the fourth quarter worth about $83,000. 43.48% of the stock is currently owned by institutional investors and hedge funds.

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.