Plug Power (PLUG) Trading 0% Higher

Cornelia Mascio
Febbraio 23, 2018

Plug Power Inc.is maintained at an average outperform rating by 7 stock analysts, and there are at least 13.58% of shares outstanding that are now legally short sold. As of January 12th, there was short interest totalling 31,535,342 shares, a decrease of 4.1% from the December 29th total of 32,869,635 shares.

Analysts believe that the company has the potential to earn average revenue of $31.03 Million for the current quarter. They sell and continue to develop fuel cell product solutions to replace lead-acid batteries in material handling vehicles and industrial trucks for some of North America's largest distribution and manufacturing businesses. Nationwide Fund Advisors lifted its stake in shares of Plug Power by 8.4% in the second quarter. Vanguard Group Inc. now owns 10,432,461 shares of the electronics maker's stock valued at $21,283,000 after purchasing an additional 2,444,005 shares in the last quarter. Voya Investment Management LLC boosted its position in shares of Plug Power by 23.2% in the 2nd quarter. Northern Trust Corp now owns 2,828,390 shares of the electronics maker's stock valued at $5,770,000 after purchasing an additional 800,320 shares in the last quarter. State Street Corp increased its position in shares of Plug Power by 14.6% during the second quarter. State Street Corp now owns 3,742,566 shares of the electronics maker's stock valued at $7,635,000 after purchasing an additional 477,438 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in Plug Power by 58.4% in the second quarter. The stock traded as high as $2.13 and last traded at $1.99. Hedge funds and other institutional investors own 27.26% of the company's stock.

Plug Power Inc. (NASDAQ:PLUG) touched its 1-Year High price of $3.21 on 11/07/17 and its 1-Year Low price of $0.92 on 03/09/17. A total of 1.87 Million shares exchanged hands during the intra-day trade compared with its average trading volume of 3.42 Million shares, while its relative volume stands at 0.55. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.86 and a current ratio of 1.29. The company operates in the Technology sector with a market capitalization of 449740. Over the same time span, the stock marked US$3.21 as its best level and the lowest price reached was US$0.92.

A number of equities research analysts have recently commented on the stock. Plug Power Inc. (NASDAQ:PLUG) has a 20-Day average volume of 4.19 Million. HC Wainwright reissued a "buy" rating and set a $4.00 price objective on shares of Plug Power in a research note on Thursday, November 9th. FBR & Co reaffirmed a "buy" rating on shares of Plug Power in a report on Tuesday, October 31st. Finally, ValuEngine downgraded shares of Plug Power from a "hold" rating to a "sell" rating in a report on Monday, December 4th. As per Zacks simplified descending rating scale the ABR rank is displayed in the range of 1 to 5 where 1 represents Strong Buy and 5 a Strong Sell. Plug Power now has an average rating of "Hold" and an average price target of $3.28.

COPYRIGHT VIOLATION NOTICE: This piece was first published by The Lincolnian Online and is owned by of The Lincolnian Online.

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