Plug Power (NASDAQ:PLUG) Trading 5.9% Higher

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PLUG shares. Roth Capital upgraded Plug Power from a “neutral” rating to a “buy” rating in a report on Wednesday, January 31st. UBS Group cut Plug Power from a “buy” rating to a “neutral” rating and set a $4.75 price target for the company. in a research note on Tuesday, February 6th. Piper Sandler boosted their price target on Plug Power from $2.80 to $2.90 and gave the company an “underweight” rating in a research note on Tuesday, March 5th. Evercore ISI lowered their price objective on shares of Plug Power from $9.00 to $6.00 and set an “outperform” rating for the company in a research report on Monday, March 4th. Finally, Roth Mkm upgraded shares of 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 research report on Wednesday, January 31st. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $6.20.

Plug Power Price Performance

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

Plug Power (NASDAQ:PLUG) last issued its quarterly 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 for the quarter, compared to the consensus estimate of $234.21 million. Plug Power had a negative net margin of 153.57% and a negative return on equity of 38.09%. The business’s revenue was up .7% compared to the same quarter last year. During the same period last year, the company posted ($0.38) EPS. On average, sell-side analysts anticipate that Plug Power Inc. will post -0.97 EPS for the current fiscal year.

Institutional Investors Weigh In On Plug Power

Institutional investors and hedge funds have recently made changes to their positions in the business. Millburn Ridgefield Corp purchased a new stake in Plug Power in the 3rd quarter valued at about $29,000. ICA Group Wealth Management LLC bought a new position in Plug Power in the 4th quarter worth approximately $35,000. Strategic Investment Solutions Inc. IL bought a new position in Plug Power in the 1st quarter valued at $41,000. FAS Wealth Partners Inc. bought a new position in Plug Power in the 4th quarter valued at $45,000. Finally, Independent Advisor Alliance bought a new position in Plug Power in the 4th quarter valued at $45,000. Institutional investors and hedge funds own 43.48% of the company’s stock.

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.