Plug Power Inc (NASDAQ:PLUG)’s share price traded up 5.1% during trading on Tuesday . The stock traded as high as $3.11 and last traded at $3.11, 4,803,398 shares were traded during trading. A decline of 8% from the average session volume of 5,222,837 shares. The stock had previously closed at $2.96.
A number of research firms have issued reports on PLUG. ValuEngine cut Plug Power from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. Roth Capital raised Plug Power from a “neutral” rating to a “buy” rating and raised their price target for the stock from $3.00 to $6.00 in a research report on Monday, November 11th. B. Riley reiterated a “buy” rating and set a $6.00 price objective (up previously from $3.50) on shares of Plug Power in a report on Monday, November 25th. HC Wainwright set a $4.00 price objective on Plug Power and gave the company a “buy” rating in a report on Wednesday, September 18th. Finally, Zacks Investment Research lowered Plug Power from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Plug Power currently has an average rating of “Buy” and a consensus target price of $4.50.
The company’s 50-day moving average price is $3.25 and its 200-day moving average price is $2.63. The company has a market cap of $826.29 million, a P/E ratio of -8.79 and a beta of 1.67.
Plug Power (NASDAQ:PLUG) last posted its quarterly earnings data on Thursday, November 7th. The electronics maker reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.02). The company had revenue of $56.38 million during the quarter, compared to the consensus estimate of $55.58 million. Plug Power had a negative net margin of 47.21% and a negative return on equity of 6,429.00%. The company’s revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.07) earnings per share. On average, analysts predict that Plug Power Inc will post -0.35 EPS for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the business. Nuveen Asset Management LLC bought a new position in shares of Plug Power during the second quarter worth about $2,800,000. KAMES CAPITAL plc boosted its position in Plug Power by 22.5% during the third quarter. KAMES CAPITAL plc now owns 5,894,797 shares of the electronics maker’s stock valued at $15,444,000 after purchasing an additional 1,082,688 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Plug Power by 8.1% in the second quarter. Vanguard Group Inc. now owns 12,247,704 shares of the electronics maker’s stock valued at $27,557,000 after buying an additional 922,937 shares in the last quarter. Invesco Ltd. lifted its position in Plug Power by 56.6% during the second quarter. Invesco Ltd. now owns 2,316,548 shares of the electronics maker’s stock worth $5,212,000 after acquiring an additional 836,970 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of Plug Power by 11.0% during the third quarter. State Street Corp now owns 4,845,012 shares of the electronics maker’s stock worth $12,742,000 after acquiring an additional 478,614 shares during the period. Hedge funds and other institutional investors own 32.12% of the company’s stock.
Plug Power Company Profile (NASDAQ:PLUG)
Plug Power Inc, an alternative energy technology provider, engages in the design, development, manufacture, and commercialization of hydrogen and fuel cell systems for the material handling and stationary power markets primarily in North America and Europe. It focuses on proton exchange membrane (PEM) fuel cell and fuel processing technologies, fuel cell/battery hybrid technologies, and related hydrogen storage and dispensing infrastructure.
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