Plug Power Inc. (NASDAQ:PLUG – Get Free Report)’s stock price was up 1.8% during mid-day trading on Thursday . The company traded as high as $2.31 and last traded at $2.26. Approximately 11,254,695 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 43,247,992 shares. The stock had previously closed at $2.22.
Wall Street Analyst Weigh In
Several research analysts have commented on the stock. HC Wainwright restated a “buy” rating and set a $18.00 price objective on shares of Plug Power in a research report on Wednesday, November 13th. Canaccord Genuity Group lowered their price target on Plug Power from $2.50 to $2.25 and set a “hold” rating for the company in a report on Wednesday, November 13th. BTIG Research lowered Plug Power from a “buy” rating to a “neutral” rating in a research note on Thursday, November 14th. Jefferies Financial Group decreased their price target on shares of Plug Power from $2.20 to $2.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Finally, Piper Sandler dropped their price objective on shares of Plug Power from $1.60 to $1.40 and set an “underweight” rating for the company in a research note on Thursday, November 14th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $4.52.
Get Our Latest Stock Analysis on Plug Power
Plug Power Trading Up 2.3 %
Plug Power (NASDAQ:PLUG – Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). The business had revenue of $173.70 million for the quarter, compared to analyst estimates of $207.25 million. Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. The business’s revenue was down 12.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.47) earnings per share. Equities research analysts expect that Plug Power Inc. will post -1.2 EPS for the current fiscal year.
Hedge Funds Weigh In On Plug Power
Institutional investors and hedge funds have recently made changes to their positions in the stock. Nations Financial Group Inc. IA ADV increased its position in Plug Power by 42.3% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 15,798 shares of the electronics maker’s stock valued at $36,000 after buying an additional 4,700 shares in the last quarter. Arkadios Wealth Advisors increased its holdings in shares of Plug Power by 18.2% during the third quarter. Arkadios Wealth Advisors now owns 33,020 shares of the electronics maker’s stock valued at $75,000 after acquiring an additional 5,075 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Plug Power by 0.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 803,881 shares of the electronics maker’s stock worth $1,817,000 after purchasing an additional 5,485 shares in the last quarter. Catalyst Capital Advisors LLC lifted its holdings in shares of Plug Power by 79.9% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 12,681 shares of the electronics maker’s stock worth $29,000 after purchasing an additional 5,631 shares in the last quarter. Finally, Millburn Ridgefield Corp grew its position in Plug Power by 79.9% in the 3rd quarter. Millburn Ridgefield Corp now owns 12,681 shares of the electronics maker’s stock valued at $29,000 after purchasing an additional 5,631 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.
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