Plug Power Inc (PLUG) Short Interest Update
Plug Power Inc (NASDAQ:PLUG) saw a large drop in short interest in the month of December. As of December 29th, there was short interest totalling 32,869,635 shares, a drop of 6.7% from the December 15th total of 35,212,396 shares. Based on an average daily trading volume, of 2,960,186 shares, the days-to-cover ratio is currently 11.1 days. Currently, 14.6% of the company’s shares are short sold.
Shares of Plug Power (NASDAQ:PLUG) opened at $2.35 on Tuesday. Plug Power has a 52-week low of $0.83 and a 52-week high of $3.21. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.29 and a quick ratio of 0.86. The stock has a market cap of $536.91, a price-to-earnings ratio of -3.85 and a beta of 1.64.
Plug Power (NASDAQ:PLUG) last posted its quarterly earnings results on Wednesday, November 8th. The electronics maker reported ($0.04) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.04). Plug Power had a negative net margin of 96.27% and a negative return on equity of 83.93%. The business had revenue of $61.43 million during the quarter, compared to the consensus estimate of $54.57 million. During the same quarter last year, the firm posted $0.07 EPS. Plug Power’s revenue was up 249.0% compared to the same quarter last year. equities analysts forecast that Plug Power will post -0.51 earnings per share for the current year.
A number of institutional investors and hedge funds have recently bought and sold shares of PLUG. Vanguard Group Inc. boosted its holdings in Plug Power by 30.6% during the 2nd quarter. Vanguard Group Inc. now owns 10,432,461 shares of the electronics maker’s stock worth $21,283,000 after acquiring an additional 2,444,005 shares during the last quarter. Northern Trust Corp boosted its holdings in Plug Power by 39.5% during the 2nd quarter. Northern Trust Corp now owns 2,828,390 shares of the electronics maker’s stock worth $5,770,000 after acquiring an additional 800,320 shares during the last quarter. State Street Corp boosted its holdings in Plug Power by 14.6% during the 2nd quarter. State Street Corp now owns 3,742,566 shares of the electronics maker’s stock worth $7,635,000 after acquiring an additional 477,438 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in Plug Power by 58.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,217,301 shares of the electronics maker’s stock worth $2,484,000 after acquiring an additional 448,639 shares during the last quarter. Finally, NJ State Employees Deferred Compensation Plan purchased a new position in Plug Power during the 3rd quarter worth $783,000. 24.30% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have recently commented on PLUG. Zacks Investment Research downgraded shares of Plug Power from a “buy” rating to a “hold” rating in a research report on Friday. BidaskClub downgraded shares of Plug Power from a “sell” rating to a “strong sell” rating in a research report on Wednesday, January 10th. B. Riley reaffirmed a “buy” rating and set a $3.50 price objective on shares of Plug Power in a research report on Thursday, December 7th. HC Wainwright reissued a “buy” rating and issued a $4.00 price target on shares of Plug Power in a research report on Thursday, December 7th. Finally, ValuEngine downgraded shares of Plug Power from a “hold” rating to a “sell” rating in a research report on Monday, December 4th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $3.23.
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About Plug Power
Plug Power Inc is a provider of alternative energy technology focused on the design, development, commercialization and manufacture of hydrogen fuel cell systems used for the industrial off-road market and the stationary power market. The Company’s product line includes GenKey, GenDrive, GenFuel, GenCare and ReliOn.
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