Plug Power (NASDAQ:PLUG) Stock Price Up 5.9%

Plug Power Inc. (NASDAQ:PLUG) traded up 5.9% during trading on Wednesday . The stock traded as high as $3.42 and last traded at $3.41. 10,821,364 shares were traded during trading, a decline of 76% from the average session volume of 44,894,027 shares. The stock had previously closed at $3.22.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Roth Mkm upgraded Plug Power from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $4.50 to $9.00 in a report on Wednesday, January 31st. Morgan Stanley reiterated an “underweight” rating and set a $3.00 price target (down previously from $3.50) on shares of Plug Power in a report on Wednesday, December 6th. Craig Hallum cut their price objective on Plug Power from $6.00 to $5.00 and set a “buy” rating on the stock in a research report on Monday, March 4th. B. Riley cut their price objective on Plug Power from $18.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, January 24th. Finally, Truist Financial boosted their price objective on Plug Power from $3.00 to $4.00 and gave the stock a “hold” rating in a research report on Wednesday, February 28th. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $6.20.

Plug Power Price Performance

The company has a debt-to-equity ratio of 0.18, a current ratio of 1.85 and a quick ratio of 0.86. The firm has a fifty day simple moving average of $3.70 and a two-hundred day simple moving average of $4.83.

Plug Power (NASDAQ:PLUG) last released its earnings results on Friday, March 1st. The electronics maker reported ($1.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.52). The firm had revenue of $222.20 million during the quarter, compared to analysts’ expectations of $234.21 million. Plug Power had a negative net margin of 153.57% and a negative return on equity of 38.09%. The company’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.38) EPS. As a group, research analysts expect that Plug Power Inc. will post -0.97 earnings per share for the current year.

Institutional Trading of Plug Power

Institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC increased its holdings in shares of Plug Power by 183.6% in the 4th quarter. SG Americas Securities LLC now owns 1,656,282 shares of the electronics maker’s stock worth $7,453,000 after purchasing an additional 1,072,344 shares in the last quarter. UniSuper Management Pty Ltd increased its holdings in shares of Plug Power by 78.5% in the 3rd quarter. UniSuper Management Pty Ltd now owns 2,064,304 shares of the electronics maker’s stock worth $15,689,000 after purchasing an additional 907,604 shares in the last quarter. Gabelli Funds LLC grew its holdings in shares of Plug Power by 9.4% in the third quarter. Gabelli Funds LLC now owns 87,500 shares of the electronics maker’s stock worth $665,000 after acquiring an additional 7,500 shares during the period. New York Life Investment Management LLC grew its holdings in shares of Plug Power by 109.7% in the third quarter. New York Life Investment Management LLC now owns 58,895 shares of the electronics maker’s stock worth $448,000 after acquiring an additional 30,807 shares during the period. Finally, Compagnie Lombard Odier SCmA grew its holdings in shares of Plug Power by 21.0% in the fourth quarter. Compagnie Lombard Odier SCmA now owns 36,250 shares of the electronics maker’s stock worth $163,000 after acquiring an additional 6,300 shares during the period. 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.