Plug Power (NASDAQ:PLUG) Shares Down 1.4%

Plug Power Inc. (NASDAQ:PLUG)’s share price was down 1.4% during trading on Monday . The company traded as low as $2.80 and last traded at $2.85. Approximately 8,081,179 shares traded hands during trading, a decline of 81% from the average daily volume of 41,656,328 shares. The stock had previously closed at $2.89.

Analyst Ratings Changes

A number of equities research analysts recently commented on PLUG shares. Marathon Capitl reaffirmed an “equal weight” rating on shares of Plug Power in a report on Tuesday, March 26th. Citigroup downgraded Plug Power from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $3.25 to $2.00 in a report on Friday, April 5th. Redburn Atlantic started coverage on Plug Power in a research report on Tuesday, February 6th. They set a “neutral” rating and a $4.50 price target for the company. Seaport Res Ptn cut Plug Power from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 6th. Finally, Craig Hallum reduced their price target on Plug Power from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Monday, March 4th. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $6.05.

Plug Power Price Performance

The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.86 and a current ratio of 1.85. The company has a 50-day moving average of $3.52 and a 200 day moving average of $4.35.

Plug Power (NASDAQ:PLUG) last issued its quarterly earnings results on Friday, March 1st. The electronics maker reported ($1.08) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $222.20 million for the quarter, compared to analysts’ expectations of $234.21 million. During the same quarter in the previous year, the firm posted ($0.38) earnings per share. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. As a group, equities analysts predict that Plug Power Inc. will post -0.95 EPS for the current year.

Institutional Trading of Plug Power

Several large investors have recently made changes to their positions in PLUG. Millburn Ridgefield Corp acquired a new position in Plug Power during the third quarter worth $29,000. Mosley Wealth Management acquired a new position in Plug Power during the first quarter worth $35,000. ICA Group Wealth Management LLC acquired a new position in Plug Power during the fourth quarter worth $35,000. Strategic Investment Solutions Inc. IL acquired a new position in Plug Power during the first quarter worth $41,000. Finally, FAS Wealth Partners Inc. acquired a new position in Plug Power during the fourth quarter worth $45,000. 43.48% of the stock is currently owned by hedge funds and other institutional investors.

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.