Plug Power, Inc. (NASDAQ:PLUG – Get Free Report)’s stock price fell 4.3% on Thursday . The stock traded as low as $3.69 and last traded at $3.79. 91,003,280 shares were traded during trading, an increase of 1% from the average session volume of 89,661,516 shares. The stock had previously closed at $3.96.
Plug Power News Roundup
Here are the key news stories impacting Plug Power this week:
- Positive Sentiment: Q1 2026 results showed stronger-than-expected revenue growth and a sharp gross margin improvement, reinforcing the view that Plug Power’s turnaround is taking hold. Management also pointed to progress from its Project Quantum Leap cost-cutting program and said it now expects positive EBITDA by Q4 2026. Plug Power Earnings Highlight Turnaround Signals And Clear Profitability Roadmap
- Positive Sentiment: HC Wainwright raised earnings estimates across multiple periods and kept a Buy rating with a $7.00 price target, signaling improved confidence in Plug Power’s longer-term profitability path.
- Positive Sentiment: Susquehanna and Canaccord also lifted their price targets after the earnings report, adding to the bullish analyst momentum around the stock.
- Neutral Sentiment: Several articles noted that the stock has already had a big run and that investors still want to see more execution before fully regaining confidence, so today’s rally is being driven by improving fundamentals but tempered by remaining skepticism. Plug Power’s Turnaround Is Working. Here’s What Investors Should Look for Next.
- Negative Sentiment: Despite the upbeat tone, Plug Power is still not profitable on a full-year basis, and analysts’ forecasts remain negative for 2026, which leaves execution risk in place.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on PLUG. Wells Fargo & Company boosted their price objective on Plug Power from $1.50 to $2.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 4th. BTIG Research reissued a “neutral” rating on shares of Plug Power in a report on Tuesday, March 3rd. BMO Capital Markets boosted their price objective on Plug Power from $1.00 to $1.20 and gave the stock an “underperform” rating in a report on Tuesday. Oppenheimer reaffirmed a “market perform” rating on shares of Plug Power in a research note on Tuesday, March 3rd. Finally, Canaccord Genuity Group upped their price target on Plug Power from $2.50 to $4.00 and gave the company a “hold” rating in a research note on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $3.37.
Plug Power Trading Down 4.3%
The company has a current ratio of 2.36, a quick ratio of 1.46 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $5.29 billion, a P/E ratio of -2.87 and a beta of 2.06. The business has a 50 day moving average price of $2.69 and a 200 day moving average price of $2.38.
Plug Power (NASDAQ:PLUG – Get Free Report) last announced its quarterly earnings results on Monday, May 11th. The electronics maker reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. The company had revenue of $163.51 million during the quarter, compared to analysts’ expectations of $139.87 million. Plug Power had a negative return on equity of 49.30% and a negative net margin of 227.13%.Plug Power’s revenue was up 22.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.21) EPS. Analysts anticipate that Plug Power, Inc. will post -0.3 EPS for the current year.
Institutional Trading of Plug Power
A number of large investors have recently bought and sold shares of the business. Caxton Associates LLP increased its stake in Plug Power by 341.0% during the 1st quarter. Caxton Associates LLP now owns 1,016,724 shares of the electronics maker’s stock worth $2,298,000 after purchasing an additional 786,172 shares in the last quarter. Bank of Nova Scotia increased its stake in Plug Power by 25.2% during the 1st quarter. Bank of Nova Scotia now owns 307,855 shares of the electronics maker’s stock worth $696,000 after purchasing an additional 62,021 shares in the last quarter. Sei Investments Co. increased its stake in Plug Power by 131.1% during the 1st quarter. Sei Investments Co. now owns 262,503 shares of the electronics maker’s stock worth $593,000 after purchasing an additional 148,903 shares in the last quarter. State of Wyoming increased its stake in Plug Power by 189.6% during the 1st quarter. State of Wyoming now owns 35,899 shares of the electronics maker’s stock worth $81,000 after purchasing an additional 23,502 shares in the last quarter. Finally, Cetera Investment Advisers increased its stake in Plug Power by 14.7% during the 1st quarter. Cetera Investment Advisers now owns 271,751 shares of the electronics maker’s stock worth $614,000 after purchasing an additional 34,919 shares in the last quarter. 43.48% of the stock is owned by institutional investors.
About Plug Power
Plug Power Inc is a U.S.-based company specializing in the design and manufacture of hydrogen fuel cell systems that serve as clean energy replacements for conventional batteries in electric vehicles and material handling equipment. Its core solutions include ProGen fuel cell engines, GenDrive power systems for forklifts and warehouse vehicles, and GenFuel hydrogen refueling infrastructure. These offerings are sold as standalone components or integrated turnkey solutions under the GenKey brand, providing customers with on-site refueling, equipment installation and maintenance services.
In addition to its fuel cell and refueling products, Plug Power develops backup power and off-grid energy solutions through its GenSure line, which targets telecommunications, data centers and utility applications.
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