Plug Power (NASDAQ:PLUG) Reaches New 12-Month Low at $2.25

Shares of Plug Power Inc. (NASDAQ:PLUG) reached a new 52-week low on Thursday . The company traded as low as $2.25 and last traded at $2.33, with a volume of 10975278 shares. The stock had previously closed at $2.41.

Wall Street Analyst Weigh In

A number of brokerages have commented on PLUG. Seaport Res Ptn cut shares of Plug Power from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 6th. Susquehanna cut their target price on shares of Plug Power from $4.50 to $3.50 and set a “neutral” rating for the company in a research note on Wednesday, January 24th. B. Riley cut their target price on shares of Plug Power from $18.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday, January 24th. Canaccord Genuity Group cut their target price on shares of Plug Power from $5.00 to $4.00 and set a “hold” rating for the company in a research note on Monday, March 4th. Finally, Redburn Atlantic initiated coverage on shares of Plug Power in a research report on Tuesday, February 6th. They issued a “neutral” rating and a $4.50 price objective for the company. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Plug Power has an average rating of “Hold” and a consensus price target of $6.05.

Plug Power Trading Down 0.8 %

The firm has a 50 day moving average of $3.35 and a two-hundred day moving average of $4.21. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.85 and a quick ratio of 0.86.

Plug Power (NASDAQ:PLUG) last posted its 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). The firm had revenue of $222.20 million during the quarter, compared to the consensus estimate of $234.21 million. Plug Power had a negative net margin of 153.57% and a negative return on equity of 38.09%. Plug Power’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.38) earnings per share. Equities analysts predict that Plug Power Inc. will post -0.94 EPS for the current fiscal year.

Hedge Funds Weigh In On Plug Power

Several large investors have recently bought and sold shares of PLUG. Millburn Ridgefield Corp bought a new position in shares of Plug Power during the third quarter worth about $29,000. Mosley Wealth Management acquired a new stake in Plug Power in the first quarter valued at approximately $35,000. FAS Wealth Partners Inc. acquired a new stake in Plug Power in the fourth quarter valued at approximately $45,000. Independent Advisor Alliance acquired a new stake in Plug Power in the fourth quarter valued at approximately $45,000. Finally, HighPoint Advisor Group LLC acquired a new stake in Plug Power in the fourth quarter valued at approximately $48,000. 43.48% of the stock is currently owned by institutional investors.

About Plug Power

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.