Shares of Plug Power Inc (NASDAQ:PLUG) have earned an average rating of “Buy” from the eleven ratings firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $8.06.
A number of research firms have recently weighed in on PLUG. ValuEngine cut Plug Power from a “buy” rating to a “hold” rating in a research report on Thursday. Roth Capital raised their price objective on Plug Power from $6.00 to $12.00 in a research report on Wednesday, June 24th. Zacks Investment Research cut Plug Power from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. B. Riley raised their price objective on Plug Power from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. Finally, Barclays began coverage on Plug Power in a research report on Thursday, June 4th. They issued an “overweight” rating and a $7.00 price objective for the company.
NASDAQ PLUG traded up $0.23 during midday trading on Tuesday, hitting $9.10. 38,140,119 shares of the company traded hands, compared to its average volume of 29,927,520. The company has a debt-to-equity ratio of 4.25, a current ratio of 1.83 and a quick ratio of 1.21. The company has a market cap of $2.95 billion, a PE ratio of -25.28 and a beta of 1.26. The company’s 50-day simple moving average is $5.35 and its 200-day simple moving average is $4.31. Plug Power has a 52 week low of $1.88 and a 52 week high of $9.65.
Plug Power (NASDAQ:PLUG) last announced its earnings results on Thursday, May 7th. The electronics maker reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.02). The company had revenue of $40.81 million for the quarter, compared to the consensus estimate of $33.17 million. Plug Power had a negative net margin of 38.85% and a negative return on equity of 169.08%. On average, research analysts predict that Plug Power will post -0.33 earnings per share for the current year.
In related news, Director Maureen O. Helmer sold 115,000 shares of the firm’s stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $4.29, for a total value of $493,350.00. Following the completion of the transaction, the director now owns 349,306 shares in the company, valued at approximately $1,498,522.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Gerard L. Conway, Jr. sold 291,000 shares of Plug Power stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $7.94, for a total value of $2,310,540.00. Following the transaction, the senior vice president now owns 51,519 shares of the company’s stock, valued at approximately $409,060.86. The disclosure for this sale can be found here. Insiders sold a total of 3,136,708 shares of company stock valued at $18,963,500 in the last 90 days. 4.50% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its stake in shares of Plug Power by 27.3% during the 1st quarter. BlackRock Inc. now owns 27,423,760 shares of the electronics maker’s stock valued at $97,080,000 after buying an additional 5,883,362 shares during the last quarter. State Street Corp raised its stake in shares of Plug Power by 30.1% during the 1st quarter. State Street Corp now owns 6,707,954 shares of the electronics maker’s stock valued at $23,746,000 after buying an additional 1,551,234 shares during the last quarter. KAMES CAPITAL plc raised its stake in shares of Plug Power by 3.0% during the 1st quarter. KAMES CAPITAL plc now owns 6,027,254 shares of the electronics maker’s stock valued at $21,276,000 after buying an additional 175,792 shares during the last quarter. Pinnacle Associates Ltd. raised its stake in shares of Plug Power by 80.9% during the 1st quarter. Pinnacle Associates Ltd. now owns 4,861,836 shares of the electronics maker’s stock valued at $17,211,000 after buying an additional 2,174,013 shares during the last quarter. Finally, Driehaus Capital Management LLC purchased a new position in shares of Plug Power during the 1st quarter valued at about $10,773,000. Institutional investors and hedge funds own 43.76% of the company’s stock.
About Plug Power
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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