Plug Power (NASDAQ:PLUG) Shares Down 3.9%

Plug Power Inc. (NASDAQ:PLUG)’s share price fell 3.9% during trading on Monday . The stock traded as low as $2.46 and last traded at $2.47. 8,420,506 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 40,591,910 shares. The stock had previously closed at $2.57.

Analyst Upgrades and Downgrades

Several research firms recently commented on PLUG. UBS Group lowered Plug Power from a “buy” rating to a “neutral” rating and set a $4.75 target price for the company. in a research note on Tuesday, February 6th. B. Riley lowered their price target on Plug Power from $18.00 to $8.00 and set a “buy” rating for the company in a research report on Wednesday, January 24th. BMO Capital Markets downgraded Plug Power from a “market perform” rating to an “underperform” rating and lowered their price target for the company from $3.50 to $2.50 in a research report on Wednesday, January 24th. Evercore ISI lowered their price target on 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, Citigroup downgraded Plug Power from a “neutral” rating to a “sell” rating and lowered their price target for the company from $3.25 to $2.00 in a research report on Friday, April 5th. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $6.05.

Plug Power Stock Performance

The company has a 50 day moving average of $3.35 and a 200 day moving average of $4.21. 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 announced its quarterly earnings data on Friday, March 1st. The electronics maker reported ($1.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($0.52). Plug Power had a negative net margin of 153.57% and a negative return on equity of 38.09%. The firm had revenue of $222.20 million for the quarter, compared to analyst estimates of $234.21 million. During the same quarter in the previous year, the company earned ($0.38) EPS. The company’s quarterly revenue was up .7% compared to the same quarter last year. As a group, equities research analysts predict that Plug Power Inc. will post -0.94 earnings per share for the current year.

Institutional Trading of Plug Power

Several institutional investors and hedge funds have recently bought and sold shares of PLUG. Arkadios Wealth Advisors raised its stake in Plug Power by 40.0% during the third quarter. Arkadios Wealth Advisors now owns 14,000 shares of the electronics maker’s stock valued at $106,000 after buying an additional 4,000 shares in the last quarter. Newbridge Financial Services Group Inc. raised its stake in Plug Power by 33.6% during the third quarter. Newbridge Financial Services Group Inc. now owns 11,540 shares of the electronics maker’s stock valued at $88,000 after buying an additional 2,900 shares in the last quarter. Exchange Traded Concepts LLC raised its position in shares of Plug Power by 30.3% during the 3rd quarter. Exchange Traded Concepts LLC now owns 6,486 shares of the electronics maker’s stock worth $49,000 after purchasing an additional 1,510 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in shares of Plug Power during the 3rd quarter worth approximately $78,000. Finally, DDD Partners LLC raised its position in shares of Plug Power by 81.2% during the 3rd quarter. DDD Partners LLC now owns 45,082 shares of the electronics maker’s stock worth $334,000 after purchasing an additional 20,196 shares during the period. Institutional investors and hedge funds 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.