Plug Power Inc. (NASDAQ:PLUG – Get Free Report)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $2.71, but opened at $2.65. Plug Power shares last traded at $2.69, with a volume of 2,098,482 shares.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on PLUG shares. Citigroup cut shares of Plug Power from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $3.25 to $2.00 in a research note on Friday, April 5th. Marathon Capitl reiterated an “equal weight” rating on shares of Plug Power in a research note on Tuesday, March 26th. Truist Financial increased their price objective 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. Craig Hallum decreased their target price on shares of Plug Power from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Monday, March 4th. Finally, HSBC decreased 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. Four research 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’s stock. According to data from MarketBeat, Plug Power has a consensus rating of “Hold” and a consensus target price of $6.05.
Get Our Latest Report on Plug Power
Plug Power Stock Down 1.8 %
Plug Power (NASDAQ:PLUG – Get Free Report) last posted its quarterly earnings data on Friday, March 1st. The electronics maker reported ($1.08) EPS for the quarter, missing the consensus estimate of ($0.56) by ($0.52). The firm had revenue of $222.20 million for the quarter, compared to analysts’ expectations of $234.21 million. Plug Power had a negative return on equity of 38.09% and a negative net margin of 153.57%. The firm’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.38) earnings per share. Analysts predict that Plug Power Inc. will post -0.95 EPS for the current fiscal year.
Institutional Investors Weigh In On Plug Power
Large investors have recently bought and sold shares of the company. Millburn Ridgefield Corp acquired a new position in Plug Power in the 3rd quarter valued at $29,000. Mosley Wealth Management acquired a new position in Plug Power in the 1st quarter valued at $35,000. ICA Group Wealth Management LLC acquired a new position in Plug Power in the 4th quarter valued at $35,000. Strategic Investment Solutions Inc. IL acquired a new position in Plug Power in the 1st quarter valued at $41,000. Finally, FAS Wealth Partners Inc. acquired a new position in Plug Power in the 4th quarter valued at $45,000. Hedge funds and other 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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