Plug Power Short Interest Down 12.0% in June (PLUG)
Plug Power (NASDAQ:PLUG) was the recipient of a large decline in short interest in the month of June. As of June 13th, there was short interest totalling 30,929,836 shares, a decline of 12.0% from the May 30th total of 35,147,026 shares, Stock Ratings News reports. Based on an average trading volume of 7,967,810 shares, the short-interest ratio is currently 3.9 days. Approximately 19.2% of the shares of the company are sold short.
A number of research firms have recently commented on PLUG. Analysts at Roth Capital cut their price target on shares of Plug Power to $3.75 in a research note on Thursday, May 15th. They now have a “neutral” rating on the stock. Separately, analysts at Citigroup Inc. cut their price target on shares of Plug Power from $7.50 to $6.00 in a research note on Thursday, May 15th. They now have an “outperform” rating on the stock. Finally, analysts at Cowen and Company upgraded shares of Plug Power from a “market perform” rating to an “outperform” rating in a research note on Thursday, May 15th. They now have a $6.00 price target on the stock, down previously from $7.50.
Shares of Plug Power (NASDAQ:PLUG) opened at 4.53 on Monday. Plug Power has a 52-week low of $0.26 and a 52-week high of $11.72. The stock has a 50-day moving average of $4.27 and a 200-day moving average of $4.50. The company’s market cap is $757.0 million.
Plug Power (NASDAQ:PLUG) last announced its earnings results on Wednesday, May 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by $0.01. The company had revenue of $5.60 million for the quarter, compared to the consensus estimate of $5.35 million. During the same quarter in the previous year, the company posted ($0.14) earnings per share. The company’s revenue for the quarter was down 13.6% on a year-over-year basis. Analysts expect that Plug Power will post $-0.11 EPS for the current fiscal year.
Plug Power Inc (NASDAQ:PLUG), is a provider of alternative energy technology focused on the design, development, commercialization and manufacture of fuel cell systems for the industrial off-road (forklift or material handling) market.
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