Plug Power (NASDAQ:PLUG) Shares Gap Up to $2.49

Plug Power Inc. (NASDAQ:PLUG)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $2.49, but opened at $2.59. Plug Power shares last traded at $2.71, with a volume of 9,638,997 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on PLUG shares. Truist Financial lifted their price target on shares of Plug Power from $3.00 to $4.00 and gave the stock a “hold” rating in a research note on Wednesday, February 28th. UBS Group downgraded shares of Plug Power from a “buy” rating to a “neutral” rating and set a $4.75 price target on the stock. in a research note on Tuesday, February 6th. Roth Mkm raised shares of Plug Power from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $4.50 to $9.00 in a research note on Wednesday, January 31st. Susquehanna dropped their price target on shares of Plug Power from $4.50 to $3.50 and set a “neutral” rating on the stock in a research note on Wednesday, January 24th. Finally, Roth Capital raised shares of Plug Power from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 31st. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $6.05.

Plug Power Stock Down 6.9 %

The company’s fifty day moving average price is $3.35 and its 200 day moving average price is $4.21. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.85 and a quick ratio of 0.86.

Plug Power (NASDAQ:PLUG) last posted its earnings results on Friday, March 1st. The electronics maker reported ($1.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.52). The firm had revenue of $222.20 million for the quarter, compared to analyst estimates of $234.21 million. Plug Power had a negative net margin of 153.57% and a negative return on equity of 38.09%. The company’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.38) earnings per share. Equities analysts forecast that Plug Power Inc. will post -0.94 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Millburn Ridgefield Corp acquired a new position in Plug Power during the 3rd quarter valued at about $29,000. Mosley Wealth Management acquired a new stake in shares of Plug Power in the 1st quarter worth approximately $35,000. FAS Wealth Partners Inc. acquired a new stake in shares of Plug Power in the 4th quarter worth approximately $45,000. Independent Advisor Alliance acquired a new stake in shares of Plug Power in the 4th quarter worth approximately $45,000. Finally, HighPoint Advisor Group LLC acquired a new stake in shares of Plug Power in the 4th quarter worth approximately $48,000. 43.48% of the stock is owned by institutional investors and hedge funds.

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.