Plug Power (NASDAQ:PLUG) Trading Up 9.3%

Plug Power Inc. (NASDAQ:PLUG) shares were up 9.3% during trading on Wednesday . The company traded as high as $2.53 and last traded at $2.48. Approximately 17,066,109 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 39,484,023 shares. The stock had previously closed at $2.27.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. TD Cowen lowered their price objective on Plug Power from $7.00 to $5.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Citigroup lowered shares of Plug Power from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $3.25 to $2.00 in a research note on Friday, April 5th. Morgan Stanley reduced their price objective on shares of Plug Power from $3.00 to $2.50 and set an “underweight” rating on the stock in a research note on Friday, May 10th. Marathon Capitl restated an “equal weight” rating on shares of Plug Power in a research note on Tuesday, March 26th. Finally, HC Wainwright reiterated a “buy” rating and issued a $18.00 price target on shares of Plug Power in a research note on Tuesday, May 14th. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $5.49.

Plug Power Price Performance

The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.87 and a current ratio of 1.94. The firm has a market capitalization of $1.83 billion, a P/E ratio of -1.02 and a beta of 1.81. The business has a fifty day moving average of $2.82 and a 200-day moving average of $3.37.

Plug Power (NASDAQ:PLUG) last released its quarterly earnings results on Thursday, May 9th. The electronics maker reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.11). The business had revenue of $120.26 million during the quarter, compared to the consensus estimate of $162.92 million. Plug Power had a negative return on equity of 43.10% and a negative net margin of 181.96%. On average, sell-side analysts forecast that Plug Power Inc. will post -1.13 EPS for the current fiscal year.

Insider Activity

In other Plug Power news, Director George C. Mcnamee sold 10,000 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $2.56, for a total value of $25,600.00. Following the sale, the director now directly owns 639,572 shares in the company, valued at $1,637,304.32. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Plug Power

Several large investors have recently modified their holdings of the stock. Mosley Wealth Management acquired a new stake in shares of Plug Power during the first quarter valued at approximately $35,000. J.W. Cole Advisors Inc. purchased a new position in shares of Plug Power during the first quarter valued at $36,000. HBK Sorce Advisory LLC purchased a new stake in Plug Power in the 1st quarter worth about $37,000. FAS Wealth Partners Inc. purchased a new position in Plug Power during the 4th quarter valued at about $45,000. Finally, Independent Advisor Alliance acquired a new position in shares of Plug Power in the 4th quarter valued at about $45,000. 43.48% of the stock is owned by institutional investors.

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.