Plug Power (NASDAQ:PLUG) Shares Gap Down to $3.15

Shares of Plug Power Inc. (NASDAQ:PLUG) gapped down before the market opened on Friday . The stock had previously closed at $3.15, but opened at $3.00. Plug Power shares last traded at $3.08, with a volume of 11,635,484 shares traded.

Analyst Upgrades and Downgrades

PLUG has been the subject of a number of research analyst reports. UBS Group cut shares of Plug Power from a “buy” rating to a “neutral” rating and set a $4.75 price objective for the company. in a research report on Tuesday, February 6th. B. Riley decreased their price target on shares of Plug Power from $18.00 to $8.00 and set a “buy” rating for the company in a research report on Wednesday, January 24th. Citigroup cut shares of Plug Power from a “neutral” rating to a “sell” rating and decreased their price target for the company from $3.25 to $2.00 in a research report on Friday. Marathon Capitl restated an “equal weight” rating on shares of Plug Power in a research report on Tuesday, March 26th. Finally, Evercore ISI decreased their price target on shares of Plug Power from $9.00 to $6.00 and set an “outperform” rating for the company in a research 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 issued a buy rating to the company. Based on data from MarketBeat.com, Plug Power presently has a consensus rating of “Hold” and an average price target of $6.05.

Plug Power Price Performance

The business’s fifty day moving average is $3.70 and its 200-day moving average is $4.60. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.85 and a quick ratio of 0.86. The firm has a market cap of $2.15 billion, a PE ratio of -1.37 and a beta of 1.54.

Plug Power (NASDAQ:PLUG) last posted its quarterly earnings data 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). Plug Power had a negative return on equity of 38.09% and a negative net margin of 153.57%. The company had revenue of $222.20 million for the quarter, compared to analysts’ expectations of $234.21 million. During the same quarter last year, the business posted ($0.38) EPS. The business’s quarterly revenue was up .7% on a year-over-year basis. On average, research analysts predict that Plug Power Inc. will post -0.94 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Plug Power

Large investors have recently modified their holdings of the business. Millburn Ridgefield Corp purchased a new position in shares of Plug Power in the third quarter worth about $29,000. ICA Group Wealth Management LLC purchased a new position in shares of Plug Power in the fourth quarter worth about $35,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Plug Power in the first quarter valued at approximately $41,000. FAS Wealth Partners Inc. bought a new position in shares of Plug Power in the fourth quarter valued at approximately $45,000. Finally, Independent Advisor Alliance bought a new position in shares of Plug Power in the fourth quarter valued at approximately $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.