Plug Power (NASDAQ:PLUG) Shares Gap Up to $2.05

Plug Power Inc (NASDAQ:PLUG) gapped up before the market opened on Wednesday . The stock had previously closed at $1.90, but opened at $2.05. Plug Power shares last traded at $2.14, with a volume of 4,323,534 shares.

PLUG has been the subject of several research reports. Zacks Investment Research downgraded shares of Plug Power from a “hold” rating to a “sell” rating in a report on Wednesday, April 24th. B. Riley set a $4.00 target price on shares of Plug Power and gave the company a “buy” rating in a report on Friday, March 8th. ValuEngine upgraded shares of Plug Power from a “hold” rating to a “buy” rating in a report on Saturday, March 30th. Finally, BidaskClub upgraded shares of Plug Power from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 30th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Plug Power has a consensus rating of “Buy” and a consensus target price of $2.58.

The business’s fifty day moving average is $2.46. The company has a market cap of $512.92 million, a PE ratio of -5.94 and a beta of 1.61. The company has a current ratio of 1.88, a quick ratio of 1.14 and a debt-to-equity ratio of 66.88.

Plug Power (NASDAQ:PLUG) last posted its quarterly earnings results on Wednesday, May 8th. The electronics maker reported ($0.15) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.07). The business had revenue of $18.60 million during the quarter, compared to analyst estimates of $32.17 million. Plug Power had a negative return on equity of 802.38% and a negative net margin of 53.11%. The business’s revenue was down 29.5% on a year-over-year basis. During the same quarter last year, the firm earned ($0.07) EPS. Analysts forecast that Plug Power Inc will post -0.34 EPS for the current fiscal year.

Several large investors have recently bought and sold shares of the business. Rhumbline Advisers boosted its position in Plug Power by 46.1% in the fourth quarter. Rhumbline Advisers now owns 284,208 shares of the electronics maker’s stock worth $352,000 after purchasing an additional 89,744 shares during the last quarter. First Trust Advisors LP boosted its position in Plug Power by 10.1% in the fourth quarter. First Trust Advisors LP now owns 218,919 shares of the electronics maker’s stock worth $271,000 after purchasing an additional 20,067 shares during the last quarter. BlackRock Inc. boosted its position in Plug Power by 12.1% in the fourth quarter. BlackRock Inc. now owns 16,527,822 shares of the electronics maker’s stock worth $20,494,000 after purchasing an additional 1,786,566 shares during the last quarter. Bruderman Asset Management LLC purchased a new position in Plug Power in the fourth quarter worth $186,000. Finally, Advisor Group Inc. boosted its position in Plug Power by 38.0% in the fourth quarter. Advisor Group Inc. now owns 53,000 shares of the electronics maker’s stock worth $66,000 after purchasing an additional 14,590 shares during the last quarter. Institutional investors and hedge funds own 31.34% of the company’s stock.

About Plug Power (NASDAQ:PLUG)

Plug Power Inc, an alternative energy technology provider, engages in the design, development, manufacture, and commercialization of hydrogen and fuel cell systems for the material handling and stationary power markets primarily in North America and Europe. It focuses on proton exchange membrane (PEM) fuel cell and fuel processing technologies, fuel cell/battery hybrid technologies, and related hydrogen storage and dispensing infrastructure.

Recommended Story: Stop Order

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.