Plug Power (NASDAQ:PLUG – Get Rating) released its quarterly earnings results on Tuesday. The electronics maker reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.10), Briefing.com reports. Plug Power had a negative return on equity of 11.78% and a negative net margin of 97.29%. The company had revenue of $151.30 million for the quarter, compared to analysts' expectations of $162.31 million. During the same quarter last year, the company earned ($0.18) EPS. Plug Power's revenue for the quarter was up 21.5% compared to the same quarter last year. Plug Power updated its FY 2022 guidance to EPS.

Plug Power Price Performance

Plug Power stock traded up $4.11 during trading hours on Wednesday, hitting $28.78. The stock had a trading volume of 53,058,715 shares, compared to its average volume of 21,983,889. The company has a debt-to-equity ratio of 0.12, a current ratio of 11.44 and a quick ratio of 10.51. The stock has a market capitalization of $16.64 billion, a price-to-earnings ratio of -29.47 and a beta of 1.78. Plug Power has a 1-year low of $12.70 and a 1-year high of $46.50. The stock's fifty day moving average is $18.32 and its two-hundred day moving average is $21.12.

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Institutional Trading of Plug Power

Several large investors have recently bought and sold shares of PLUG. Neuberger Berman Group LLC boosted its stake in shares of Plug Power by 7.3% during the first quarter. Neuberger Berman Group LLC now owns 13,972 shares of the electronics maker's stock valued at $400,000 after acquiring an additional 946 shares during the last quarter. Gabelli Funds LLC boosted its stake in shares of Plug Power by 26.5% during the first quarter. Gabelli Funds LLC now owns 31,616 shares of the electronics maker's stock valued at $905,000 after acquiring an additional 6,616 shares during the last quarter. Walleye Capital LLC acquired a new stake in shares of Plug Power during the first quarter valued at $2,736,000. Weiss Multi Strategy Advisers LLC acquired a new stake in shares of Plug Power during the first quarter valued at $1,431,000. Finally, Yaupon Capital Management LP boosted its stake in shares of Plug Power by 12.3% during the first quarter. Yaupon Capital Management LP now owns 84,200 shares of the electronics maker's stock valued at $2,409,000 after acquiring an additional 9,200 shares during the last quarter. Institutional investors and hedge funds own 52.07% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PLUG. JPMorgan Chase & Co. upped their price target on Plug Power from $28.00 to $32.00 and gave the stock an "overweight" rating in a research note on Wednesday. Morgan Stanley cut their price target on Plug Power from $43.00 to $42.00 and set an "overweight" rating for the company in a research note on Thursday, July 21st. Northland Securities began coverage on Plug Power in a research note on Tuesday, August 2nd. They set a "market perform" rating and a $25.00 price target for the company. KeyCorp upped their price target on Plug Power from $30.00 to $32.00 and gave the stock an "overweight" rating in a research note on Wednesday. Finally, Craig Hallum dropped their price objective on Plug Power from $49.00 to $31.00 in a report on Tuesday, May 10th. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, Plug Power has an average rating of "Moderate Buy" and an average target price of $32.62.

About Plug Power

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Plug Power Inc delivers end-to-end clean hydrogen and zero-emissions fuel cell solutions for supply chain and logistics applications, on-road electric vehicles, stationary power market, and others in North America and internationally. It engages in building an end-to-end green hydrogen ecosystem, including green hydrogen production, storage and delivery, and energy generation through mobile or stationary applications.

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