Key Points
- Insider purchase: Jose Luis Crespo bought 37,300 shares at an average of $2.34 on Dec. 15, spending $87,282 and increasing his stake 13.81% to 307,332 shares (valued ~ $719,157).
- Stock and results snapshot: Plug Power traded near $2.37 with a $3.29 billion market cap; the firm reported EPS of ($0.12) (beating by $0.01) but revenue of $177.06M missed estimates and profitability remains deeply negative (net margin -313.69%, ROE -105.98%).
- Mixed analyst outlook: the consensus rating is an average "Hold" with an average target of $2.80, while individual price targets and ratings range widely from $1.50 to $7.00.
Plug Power, Inc. (NASDAQ:PLUG - Get Free Report) insider Jose Luis Crespo purchased 37,300 shares of the business's stock in a transaction that occurred on Monday, December 15th. The stock was bought at an average price of $2.34 per share, with a total value of $87,282.00. Following the completion of the purchase, the insider owned 307,332 shares of the company's stock, valued at $719,156.88. This trade represents a 13.81% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Plug Power Price Performance
Plug Power stock traded up $0.21 during mid-day trading on Thursday, reaching $2.37. 41,734,865 shares of the company were exchanged, compared to its average volume of 96,559,180. The firm has a market cap of $3.29 billion, a PE ratio of -1.00 and a beta of 1.74. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.32 and a quick ratio of 0.70. The company has a fifty day simple moving average of $2.58 and a 200-day simple moving average of $2.00. Plug Power, Inc. has a 12 month low of $0.69 and a 12 month high of $4.58.
Plug Power (NASDAQ:PLUG - Get Free Report) last released its earnings results on Monday, November 10th. The electronics maker reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.01. Plug Power had a negative return on equity of 105.98% and a negative net margin of 313.69%.The company had revenue of $177.06 million for the quarter, compared to analyst estimates of $185.41 million. As a group, equities research analysts expect that Plug Power, Inc. will post -1.21 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the company. Kovack Advisors Inc. bought a new stake in Plug Power during the 3rd quarter worth $26,000. Yousif Capital Management LLC acquired a new stake in shares of Plug Power during the third quarter valued at about $27,000. Prakash Investment Advisors LLC bought a new stake in shares of Plug Power during the third quarter worth about $27,000. Prime Capital Investment Advisors LLC acquired a new position in shares of Plug Power in the third quarter valued at approximately $30,000. Finally, Oak Thistle LLC bought a new position in Plug Power in the 3rd quarter valued at approximately $30,000. 43.48% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on the stock. Morgan Stanley reissued an "underweight" rating and issued a $1.50 target price on shares of Plug Power in a report on Thursday, October 16th. HSBC set a $4.40 price target on shares of Plug Power in a research report on Thursday, October 9th. Canaccord Genuity Group set a $7.00 price objective on shares of Plug Power in a research report on Monday, November 24th. Weiss Ratings restated a "sell (d-)" rating on shares of Plug Power in a research note on Wednesday, October 8th. Finally, Susquehanna reduced their target price on Plug Power from $3.50 to $2.50 and set a "neutral" rating on the stock in a report on Monday, November 17th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, six have given a Hold rating and six have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $2.80.
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About Plug Power
(
Get Free Report)
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.
Further Reading
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