Shares of Plug Power Inc (NASDAQ:PLUG) were down 5.1% during mid-day trading on Monday . The stock traded as low as $2.20 and last traded at $2.23. Approximately 4,765,706 shares were traded during mid-day trading, an increase of 4% from the average daily volume of 4,564,646 shares. The stock had previously closed at $2.35.

Several analysts recently issued reports on PLUG shares. BidaskClub upgraded shares of Plug Power from a “hold” rating to a “buy” rating in a report on Friday, March 15th. ValuEngine upgraded shares of Plug Power from a “hold” rating to a “buy” rating in a report on Saturday, March 30th. B. Riley restated a “buy” rating and issued a $3.50 price objective on shares of Plug Power in a report on Thursday, March 14th. Zacks Investment Research upgraded shares of Plug Power from a “sell” rating to a “hold” rating in a report on Tuesday, April 2nd. Finally, Roth Capital upgraded shares of Plug Power from a “sell” rating to a “neutral” rating and set a $1.30 price objective on the stock in a report on Wednesday, January 30th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $2.58.

The stock has a market cap of $521.45 million, a price-to-earnings ratio of -6.19 and a beta of 1.76. The company has a quick ratio of 0.74, a current ratio of 1.88 and a debt-to-equity ratio of 66.88.

Plug Power (NASDAQ:PLUG) last released its earnings results on Wednesday, May 8th. The electronics maker reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.07). The firm had revenue of $18.60 million during the quarter, compared to analyst estimates of $32.17 million. Plug Power had a negative net margin of 53.11% and a negative return on equity of 802.38%. The business’s revenue was down 29.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.07) earnings per share. On average, research analysts predict that Plug Power Inc will post -0.22 EPS for the current year.

In related news, CEO Andrew Marsh acquired 12,286 shares of the stock in a transaction dated Thursday, March 14th. The stock was acquired at an average cost of $2.44 per share, with a total value of $29,977.84. Following the completion of the transaction, the chief executive officer now owns 465,145 shares in the company, valued at approximately $1,134,953.80. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director George C. Mcnamee acquired 100,000 shares of the stock in a transaction dated Monday, March 18th. The shares were bought at an average cost of $2.34 per share, with a total value of $234,000.00. Following the completion of the transaction, the director now owns 826,282 shares of the company’s stock, valued at approximately $1,933,499.88. The disclosure for this purchase can be found here. Insiders own 6.00% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. KBC Group NV grew its position in shares of Plug Power by 3.8% during the fourth quarter. KBC Group NV now owns 524,923 shares of the electronics maker’s stock worth $651,000 after buying an additional 19,138 shares in the last quarter. Northern Trust Corp grew its position in shares of Plug Power by 0.6% during the fourth quarter. Northern Trust Corp now owns 2,632,446 shares of the electronics maker’s stock worth $3,264,000 after buying an additional 16,140 shares in the last quarter. Metropolitan Life Insurance Co. NY grew its position in shares of Plug Power by 343.2% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 73,495 shares of the electronics maker’s stock worth $91,000 after buying an additional 56,912 shares in the last quarter. Rhumbline Advisers grew its position in shares of Plug Power by 46.1% during the fourth quarter. Rhumbline Advisers now owns 284,208 shares of the electronics maker’s stock worth $352,000 after buying an additional 89,744 shares in the last quarter. Finally, BlackRock Inc. grew its position in shares of Plug Power by 0.8% during the third quarter. BlackRock Inc. now owns 14,741,256 shares of the electronics maker’s stock worth $28,301,000 after buying an additional 116,133 shares in the last quarter. 26.80% of the stock is owned by institutional investors and hedge funds.

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About Plug Power (NASDAQ:PLUG)

Plug Power Inc, an alternative energy technology provider, engages in the design, development, manufacture, and commercialization of hydrogen and fuel cell systems for the material handling and stationary power markets primarily in North America and Europe. It focuses on proton exchange membrane (PEM) fuel cell and fuel processing technologies, fuel cell/battery hybrid technologies, and related hydrogen storage and dispensing infrastructure.

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