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.

WARNING: This piece was posted by Watch List News and is the property of of Watch List News. If you are viewing this piece on another site, it was copied illegally and republished in violation of U.S. & international copyright law. The correct version of this piece can be viewed at https://www.watchlistnews.com/plug-power-inc-plug-short-interest-update/1808622.html.

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.

Receive News & Ratings for Plug Power Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Plug Power and related companies with MarketBeat.com's FREE daily email newsletter.