Plug Power, Inc. (PLUG) Stock Price Up -3.6%
Plug Power, Inc. (NASDAQ:PLUG)’s share price rose 3.6% during mid-day trading on Thursday . The stock traded as high as $2.38 and last traded at $2.27. Approximately 3,462,604 shares changed hands during mid-day trading, a decline of 17% from the average daily volume of 4,160,290 shares. The stock had previously closed at $2.35.
PLUG has been the topic of several research reports. Roth Capital downgraded Plug Power from a “neutral” rating to a “sell” rating and cut their target price for the company from $2.25 to $1.30 in a research report on Wednesday, May 17th. ValuEngine downgraded Plug Power from a “hold” rating to a “sell” rating in a research report on Thursday, May 18th. Zacks Investment Research raised Plug Power from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 19th. FBR & Co reaffirmed an “outperform” rating and set a $3.50 price target (up from $3.00) on shares of Plug Power in a research report on Tuesday, July 25th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $4.00 price target on shares of Plug Power in a research report on Monday, July 24th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. Plug Power presently has a consensus rating of “Hold” and an average target price of $2.83.
The firm has a 50 day moving average of $2.18 and a 200 day moving average of $1.95. The company’s market cap is $497.78 million.
Plug Power (NASDAQ:PLUG) last announced its quarterly earnings results on Tuesday, August 8th. The electronics maker reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.03). Plug Power had a negative net margin of 112.95% and a negative return on equity of 86.35%. The company had revenue of $22.60 million during the quarter, compared to analysts’ expectations of $28.58 million. During the same period last year, the firm earned ($0.04) earnings per share. Plug Power’s revenue was up 10.5% on a year-over-year basis. On average, analysts anticipate that Plug Power, Inc. will post ($0.32) earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently made changes to their positions in PLUG. Brighton Jones LLC acquired a new position in Plug Power in the second quarter valued at $102,000. Adalta Capital Management LLC acquired a new position in Plug Power in the second quarter valued at $106,000. Private Advisor Group LLC increased its stake in Plug Power by 160.9% in the first quarter. Private Advisor Group LLC now owns 51,318 shares of the electronics maker’s stock valued at $115,000 after purchasing an additional 31,646 shares during the period. Archford Capital Strategies LLC increased its stake in Plug Power by 20,422.2% in the second quarter. Archford Capital Strategies LLC now owns 1,847 shares of the electronics maker’s stock valued at $115,000 after purchasing an additional 1,838 shares during the period. Finally, Creative Planning increased its stake in Plug Power by 41.5% in the second quarter. Creative Planning now owns 70,472 shares of the electronics maker’s stock valued at $144,000 after purchasing an additional 20,673 shares during the period. 23.79% of the stock is owned by hedge funds and other institutional investors.
TRADEMARK VIOLATION WARNING: This piece was reported by Daily Political and is the sole property of of Daily Political. If you are accessing this piece on another domain, it was stolen and reposted in violation of US and international copyright and trademark law. The original version of this piece can be accessed at https://www.dailypolitical.com/2017/09/14/plug-power-inc-plug-stock-price-up-3-6.html.
Plug Power Company Profile
Plug Power Inc is a provider of alternative energy technology focused on the design, development, commercialization and manufacture of hydrogen fuel cell systems used for the industrial off-road market and the stationary power market. The Company’s product line includes GenKey, GenDrive, GenFuel, GenCare and ReliOn.
Receive News & Ratings for Plug Power Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Plug Power Inc. and related companies with MarketBeat.com's FREE daily email newsletter.