Plug Power, Inc. (PLUG) Stock Price Down 5.1%
Plug Power, Inc. (NASDAQ:PLUG)’s share price traded down 5.1% during mid-day trading on Tuesday . The stock traded as low as $2.40 and last traded at $2.42. 7,565,900 shares changed hands during mid-day trading, an increase of 2% from the average session volume of 7,425,280 shares. The stock had previously closed at $2.55.
Several equities analysts recently issued reports on the company. Zacks Investment Research cut Plug Power from a “hold” rating to a “sell” rating in a report on Tuesday, September 26th. HC Wainwright reiterated a “buy” rating and issued a $4.00 price target on shares of Plug Power in a report on Thursday, November 9th. B. Riley restated a “buy” rating on shares of Plug Power in a report on Wednesday, November 1st. FBR & Co restated an “outperform” rating and set a $3.50 target price (up previously from $3.00) on shares of Plug Power in a report on Tuesday, July 25th. Finally, Cowen and Company restated a “buy” rating and set a $3.00 target price on shares of Plug Power in a report on Sunday, September 17th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $3.03.
The company has a quick ratio of 0.86, a current ratio of 1.29 and a debt-to-equity ratio of 0.62.
Plug Power (NASDAQ:PLUG) last issued its earnings results on Wednesday, November 8th. The electronics maker reported ($0.04) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.04). Plug Power had a negative return on equity of 83.93% and a negative net margin of 96.27%. The firm had revenue of $61.43 million for the quarter, compared to analysts’ expectations of $54.57 million. During the same quarter last year, the business earned $0.07 earnings per share. The company’s revenue was up 249.0% compared to the same quarter last year. equities research analysts predict that Plug Power, Inc. will post -0.48 EPS for the current fiscal year.
In other Plug Power news, Director George C. Mcnamee acquired 200,000 shares of the business’s stock in a transaction dated Friday, September 15th. The shares were acquired at an average price of $2.20 per share, for a total transaction of $440,000.00. Following the acquisition, the director now directly owns 486,131 shares of the company’s stock, valued at approximately $1,069,488.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.90% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Swiss National Bank lifted its holdings in shares of Plug Power by 15.3% during the 2nd quarter. Swiss National Bank now owns 325,200 shares of the electronics maker’s stock valued at $663,000 after purchasing an additional 43,100 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of Plug Power by 58.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,217,301 shares of the electronics maker’s stock valued at $2,484,000 after purchasing an additional 448,639 shares in the last quarter. Brighton Jones LLC bought a new position in shares of Plug Power during the 2nd quarter valued at about $102,000. Geode Capital Management LLC lifted its holdings in shares of Plug Power by 30.4% during the 1st quarter. Geode Capital Management LLC now owns 1,750,660 shares of the electronics maker’s stock valued at $2,415,000 after purchasing an additional 407,653 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of Plug Power by 44.2% during the 2nd quarter. First Trust Advisors LP now owns 232,094 shares of the electronics maker’s stock valued at $473,000 after purchasing an additional 71,126 shares in the last quarter. Institutional investors and hedge funds own 23.70% of the company’s stock.
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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.
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