Plug Power (NASDAQ:PLUG) Shares Gap Up to $2.46

Plug Power Inc. (NASDAQ:PLUG)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $2.46, but opened at $2.59. Plug Power shares last traded at $2.55, with a volume of 8,057,624 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Craig Hallum decreased their price objective on shares of Plug Power from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Monday, March 4th. Canaccord Genuity Group reduced their price target on shares of Plug Power from $4.00 to $3.00 and set a “hold” rating on the stock in a research report on Monday, May 13th. Evercore ISI reduced their price target on shares of Plug Power from $9.00 to $6.00 and set an “outperform” rating on the stock in a research report on Monday, March 4th. TD Cowen reduced their price target on shares of Plug Power from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. Finally, Susquehanna reduced their price target on shares of Plug Power from $3.50 to $3.00 and set a “neutral” rating on the stock in a research report on Friday, May 10th. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Plug Power currently has an average rating of “Hold” and an average target price of $5.49.

Plug Power Stock Up 1.2 %

The company has a quick ratio of 0.87, a current ratio of 1.94 and a debt-to-equity ratio of 0.17. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of -1.02 and a beta of 1.77. The stock’s 50 day moving average is $2.83 and its 200 day moving average is $3.42.

Plug Power (NASDAQ:PLUG) last posted its quarterly earnings data on Thursday, May 9th. The electronics maker reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.11). Plug Power had a negative net margin of 181.96% and a negative return on equity of 43.10%. The company had revenue of $120.26 million for the quarter, compared to analyst estimates of $162.92 million. Analysts forecast that Plug Power Inc. will post -1.13 EPS for the current year.

Insider Activity at Plug Power

In other Plug Power news, Director George C. Mcnamee sold 10,000 shares of Plug Power stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $2.56, for a total value of $25,600.00. Following the transaction, the director now owns 639,572 shares in the company, valued at $1,637,304.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Mosley Wealth Management acquired a new position in Plug Power in the first quarter worth approximately $35,000. J.W. Cole Advisors Inc. acquired a new position in Plug Power in the 1st quarter worth approximately $36,000. HBK Sorce Advisory LLC acquired a new position in Plug Power in the 1st quarter worth approximately $37,000. FAS Wealth Partners Inc. acquired a new position in Plug Power in the 4th quarter worth approximately $45,000. Finally, Independent Advisor Alliance acquired a new position in Plug Power in the 4th quarter worth approximately $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.