Plug Power Inc. (NASDAQ:PLUG – Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $2.41, but opened at $2.51. Plug Power shares last traded at $2.52, with a volume of 6,596,754 shares changing hands.
Analyst Upgrades and Downgrades
Several analysts have issued reports on PLUG shares. HSBC cut their target price on shares of Plug Power from $9.00 to $8.50 and set a “buy” rating on the stock in a research note on Tuesday, March 5th. Roth Mkm upgraded shares of Plug Power from a “neutral” rating to a “buy” rating and boosted their price target for the company from $4.50 to $9.00 in a report on Wednesday, January 31st. Susquehanna lowered their price target on shares of Plug Power from $4.50 to $3.50 and set a “neutral” rating on the stock in a report on Wednesday, January 24th. Seaport Res Ptn cut shares of Plug Power from a “buy” rating to a “neutral” rating in a report on Tuesday, February 6th. Finally, Canaccord Genuity Group lowered their price target on shares of Plug Power from $5.00 to $4.00 and set a “hold” rating on the stock in a report on Monday, March 4th. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $6.05.
Get Our Latest Report on Plug Power
Plug Power Stock Performance
Plug Power (NASDAQ:PLUG – Get Free Report) last announced its quarterly earnings data on Friday, March 1st. The electronics maker reported ($1.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.52). The company 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 firm’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.38) EPS. Analysts forecast that Plug Power Inc. will post -0.94 earnings per share for the current year.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC raised its position in Plug Power by 183.6% in the fourth quarter. SG Americas Securities LLC now owns 1,656,282 shares of the electronics maker’s stock worth $7,453,000 after purchasing an additional 1,072,344 shares in the last quarter. UniSuper Management Pty Ltd grew its stake in Plug Power by 78.5% during the third quarter. UniSuper Management Pty Ltd now owns 2,064,304 shares of the electronics maker’s stock worth $15,689,000 after buying an additional 907,604 shares during the last quarter. Gabelli Funds LLC grew its stake in Plug Power by 9.4% during the third quarter. Gabelli Funds LLC now owns 87,500 shares of the electronics maker’s stock worth $665,000 after buying an additional 7,500 shares during the last quarter. Compagnie Lombard Odier SCmA grew its stake in Plug Power by 21.0% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 36,250 shares of the electronics maker’s stock worth $163,000 after buying an additional 6,300 shares during the last quarter. Finally, New York Life Investment Management LLC grew its stake in Plug Power by 109.7% during the third quarter. New York Life Investment Management LLC now owns 58,895 shares of the electronics maker’s stock worth $448,000 after buying an additional 30,807 shares during the last quarter. 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.
Featured Stories
- Five stocks we like better than Plug Power
- What is the Shanghai Stock Exchange Composite Index?
- The 3 Hottest Insiders Buys This Month
- 3 Home Improvement Stocks that Can Upgrade Your Portfolio
- What Bulls and Bears May Be Getting Wrong about SOFI Stock
- Insider Buying Explained: What Investors Need to Know
- Microsoft Analysis: Trends, Predictions & Investment Insight
Receive News & Ratings for Plug Power Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Plug Power and related companies with MarketBeat.com's FREE daily email newsletter.