Plug Power (NASDAQ:PLUG) Stock Price Down 0.7% – What’s Next?

Shares of Plug Power Inc. (NASDAQ:PLUG) fell 0.7% during mid-day trading on Friday . The stock traded as low as $1.92 and last traded at $1.91. 15,172,647 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 76,169,750 shares. The stock had previously closed at $1.92.

Analysts Set New Price Targets

Several research firms recently issued reports on PLUG. Jefferies Financial Group lowered their price objective on Plug Power from $2.20 to $2.00 and set a “hold” rating on the stock in a research report on Thursday, October 3rd. Susquehanna boosted their price objective on shares of Plug Power from $2.00 to $2.50 and gave the company a “neutral” rating in a research report on Thursday, January 16th. Craig Hallum lowered their price target on shares of Plug Power from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. StockNews.com upgraded shares of Plug Power to a “sell” rating in a research note on Wednesday, January 22nd. Finally, HC Wainwright reissued a “buy” rating and set a $18.00 target price on shares of Plug Power in a research note on Wednesday, November 13th. Five equities research analysts have rated the stock with a sell rating, ten have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Plug Power has a consensus rating of “Hold” and an average price target of $4.46.

Plug Power Stock Performance

The firm has a 50-day moving average price of $2.36 and a two-hundred day moving average price of $2.22. The firm has a market capitalization of $1.72 billion, a P/E ratio of -0.88 and a beta of 1.79. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.08 and a quick ratio of 0.95.

Plug Power (NASDAQ:PLUG) last posted its quarterly earnings data on Tuesday, November 12th. The electronics maker reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.01). Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. The company had revenue of $173.70 million for the quarter, compared to analyst estimates of $207.25 million. During the same quarter in the previous year, the firm posted ($0.47) earnings per share. The company’s quarterly revenue was down 12.6% on a year-over-year basis. On average, analysts forecast that Plug Power Inc. will post -1.21 EPS for the current fiscal year.

Institutional Trading of Plug Power

Large investors have recently made changes to their positions in the business. Pacific Sage Partners LLC acquired a new stake in Plug Power during the fourth quarter worth about $25,000. Prio Wealth Limited Partnership purchased a new stake in shares of Plug Power in the third quarter valued at approximately $29,000. Catalyst Capital Advisors LLC boosted its stake in Plug Power by 79.9% during the third quarter. Catalyst Capital Advisors LLC now owns 12,681 shares of the electronics maker’s stock worth $29,000 after buying an additional 5,631 shares during the last quarter. Millburn Ridgefield Corp increased its stake in shares of Plug Power by 79.9% in the 3rd quarter. Millburn Ridgefield Corp now owns 12,681 shares of the electronics maker’s stock worth $29,000 after acquiring an additional 5,631 shares during the last quarter. Finally, First Commonwealth Financial Corp PA acquired a new position in shares of Plug Power during the 3rd quarter valued at about $29,000. 43.48% of the stock is owned by hedge funds and other institutional investors.

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.