Plug Power (NASDAQ:PLUG) Stock Price Up 1.2% – Still a Buy?

Shares of Plug Power Inc. (NASDAQ:PLUG) rose 1.2% on Thursday . The stock traded as high as $2.12 and last traded at $2.06. Approximately 21,558,657 shares traded hands during trading, a decline of 72% from the average daily volume of 78,011,633 shares. The stock had previously closed at $2.03.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. BTIG Research lowered Plug Power from a “buy” rating to a “neutral” rating in a report on Thursday, November 14th. Craig Hallum dropped their price objective on Plug Power from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. StockNews.com raised Plug Power to a “sell” rating in a report on Wednesday. Wells Fargo & Company lowered their price target on Plug Power from $3.00 to $2.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 14th. Finally, Evercore ISI reduced their price objective on Plug Power from $5.00 to $4.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 13th. Five research analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Plug Power presently has a consensus rating of “Hold” and an average target price of $4.55.

Plug Power Trading Up 2.2 %

The business has a fifty day simple moving average of $2.36 and a 200 day simple moving average of $2.25. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of -0.97 and a beta of 1.79. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 2.08.

Plug Power (NASDAQ:PLUG) last announced its earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). The company had revenue of $173.70 million for the quarter, compared to analyst estimates of $207.25 million. Plug Power had a negative net margin of 214.05% and a negative return on equity of 46.99%. Plug Power’s quarterly revenue was down 12.6% compared to the same quarter last year. During the same quarter last year, the company posted ($0.47) EPS. As a group, equities analysts anticipate that Plug Power Inc. will post -1.2 EPS for the current year.

Institutional Investors Weigh In On Plug Power

Several hedge funds have recently made changes to their positions in the business. Profund Advisors LLC acquired a new position in Plug Power in the second quarter valued at $29,000. Prio Wealth Limited Partnership acquired a new stake in Plug Power during the third quarter valued at approximately $29,000. Catalyst Capital Advisors LLC raised its stake in Plug Power by 79.9% during the third quarter. Catalyst Capital Advisors LLC now owns 12,681 shares of the electronics maker’s stock valued at $29,000 after buying an additional 5,631 shares in the last quarter. First Commonwealth Financial Corp PA bought a new position in shares of Plug Power during the third quarter valued at approximately $29,000. Finally, Millburn Ridgefield Corp grew its holdings in shares of Plug Power by 79.9% during the third quarter. Millburn Ridgefield Corp now owns 12,681 shares of the electronics maker’s stock valued at $29,000 after purchasing an additional 5,631 shares during the last quarter. Institutional investors and hedge funds own 43.48% of the company’s stock.

Plug Power Company Profile

Plug Power Inc develops hydrogen and fuel cell product solutions in North America, Europe, Asia, and internationally. The company offers GenDrive, a hydrogen-fueled proton exchange membrane (PEM) fuel cell system that provides power to material handling electric vehicles; GenSure, a stationary fuel cell solution that offers modular PEM fuel cell power to support the backup and grid-support power requirements of the telecommunications, transportation, and utility sectors; ProGen, a fuel cell stack and engine technology used in mobility and stationary fuel cell systems, and as engines in electric delivery vans; GenFuel, a liquid hydrogen fueling delivery, generation, storage, and dispensing system; GenCare, an ongoing Internet of Things-based maintenance and on-site service program for GenDrive fuel cell systems, GenSure fuel cell systems, GenFuel hydrogen storage and dispensing products, and ProGen fuel cell engines; and GenKey, an integrated turn-key solution for transitioning to fuel cell power.