Plug Power Inc. (NASDAQ:PLUG – Free Report) shares rose 2.8% on Friday. The stock traded as high as $2.26 and was last seen at $2.18. About 9,559,500 shares changed hands during trading, a 76% decline from the average daily volume of 39,891,262 shares. The stock had previously closed at $2.12.
Changes in analyst ratings
Several equities analysts have recently commented on PLUG shares. B. Riley upgraded Plug Power to a “strong buy” rating in a research report on Tuesday, June 25th. Susquehanna decreased their price target on Plug Power from $3.00 to $2.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. Piper Sandler decreased their price target on Plug Power from $2.50 to $2.40 and gave the company an “underweight” rating in a research report on Monday, July 22nd. TD Cowen decreased their price target on Plug Power from $7.00 to $5.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Finally, Truist Financial decreased their price target on Plug Power from $3.00 to $2.00 and gave the company a “hold” rating in a report on Monday, August 12. Four analysts have rated the stock a “sell,” fifteen have rated it a “hold,” seven have rated it a “buy,” and one has rated it a “strong buy.” According to MarketBeat.com, Plug Power has an average rating of “hold” and an average price target of $5.19.
Check out our latest analysis on Plug Power
Plug Power shares rise 4.2%
The company has a market cap of $1.64 billion, a price-to-earnings ratio of -0.92 and a beta of 1.81. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.07 and a quick ratio of 0.91. The stock has a 50-day moving average of $2.51 and a 200-day moving average of $3.04.
Plug Power (NASDAQ:PLUG – Free Report) last released its quarterly earnings results on Thursday, August 8. The electronics maker reported earnings per share (EPS) of -$0.36 for the quarter, missing analysts’ consensus estimates of -$0.30 by -$0.06. The company 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 declined 44.9% compared to the same quarter last year. During the same period last year, the company generated earnings per share of -$0.35. Sell-side analysts forecast that Plug Power Inc. will report earnings per share of -$1.1 for the current fiscal year.
Institutional investors comment on Plug Power
A number of large investors have recently changed their holdings in the company. Algert Global LLC acquired a new stake in shares of Plug Power during the 2nd quarter valued at $152,000. The Manufacturers Life Insurance Company increased its stake in shares of Plug Power by 144.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 382,186 shares of the electronics maker’s stock valued at $890,000 after buying an additional 225,834 shares in the last quarter. Dimension Capital Management LLC acquired a new stake in shares of Plug Power during the 2nd quarter valued at $35,000. Marshall Wace LLP increased its stake in shares of Plug Power by 80.0% during the 2nd quarter. Marshall Wace LLP now owns 24,492 shares of the electronics maker’s stock valued at $57,000 after buying an additional 10,882 shares in the last quarter. Finally, Xponance Inc. increased its holdings in shares of Plug Power by 118.4% during the 2nd 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. Institutional investors and hedge funds own 43.48% of the company’s stock.
Plug Power Company Profile
(Get free report)
Plug Power Inc develops hydrogen and fuel cell product solutions in North America, Europe, Asia and internationally. The Company offers GenDrive, a hydrogen-powered proton exchange membrane (PEM) fuel cell system that powers electric industrial trucks; GenSure, a stationary fuel cell solution that provides modular PEM fuel cell power to support the backup power and grid support requirements of the telecommunications, transportation and utility sectors; ProGen, a fuel cell stack and motor technology used in mobility and stationary fuel cell systems and as motors in electric delivery trucks; GenFuel, a system for the delivery, generation, storage and dispensing of liquid hydrogen; 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, a complete integrated solution for the transition to fuel cell power.
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