Plug Power (NASDAQ:PLUG) Trading Down 4.2%

Plug Power Inc. (NASDAQ:PLUG)’s share price traded down 4.2% during mid-day trading on Tuesday . The stock traded as low as $2.69 and last traded at $2.73. 9,615,081 shares were traded during trading, a decline of 77% from the average session volume of 41,403,902 shares. The stock had previously closed at $2.85.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Canaccord Genuity Group dropped their price objective on Plug Power from $5.00 to $4.00 and set a “hold” rating for the company in a research note on Monday, March 4th. Citigroup lowered Plug Power from a “neutral” rating to a “sell” rating and lowered their target price for the company from $3.25 to $2.00 in a research note on Friday, April 5th. Seaport Res Ptn lowered Plug Power from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 6th. Truist Financial raised their target price on Plug Power from $3.00 to $4.00 and gave the company a “hold” rating in a research note on Wednesday, February 28th. Finally, Roth Capital upgraded Plug Power from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 31st. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.05.

Plug Power Trading Up 1.1 %

The company has a current ratio of 1.85, a quick ratio of 0.86 and a debt-to-equity ratio of 0.18. The stock has a fifty day simple moving average of $3.49 and a 200-day simple moving average of $4.34.

Plug Power (NASDAQ:PLUG) last issued its earnings results on Friday, March 1st. The electronics maker reported ($1.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.52). Plug Power had a negative return on equity of 38.09% and a negative net margin of 153.57%. The company had revenue of $222.20 million for the quarter, compared to the consensus estimate of $234.21 million. During the same quarter last year, the business posted ($0.38) EPS. Plug Power’s quarterly revenue was up .7% on a year-over-year basis. As a group, equities analysts predict that Plug Power Inc. will post -0.95 earnings per share for the current year.

Hedge Funds Weigh In On Plug Power

Several institutional investors have recently modified their holdings of PLUG. Millburn Ridgefield Corp bought a new position in shares of Plug Power during the 3rd quarter valued at about $29,000. Mosley Wealth Management bought a new position in shares of Plug Power during the 1st quarter valued at about $35,000. ICA Group Wealth Management LLC bought a new position in shares of Plug Power during the 4th quarter valued at about $35,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Plug Power during the 1st quarter valued at about $41,000. Finally, FAS Wealth Partners Inc. bought a new position in shares of Plug Power during the 4th quarter valued at about $45,000. Institutional investors own 43.48% of the company’s stock.

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.