Plug Power (NASDAQ:PLUG) Shares Up 3.6% – Time to Buy?

Plug Power Inc. (NASDAQ:PLUG)’s stock price shot up 3.6% on Friday . The stock traded as high as $2.20 and last traded at $2.17. 23,674,536 shares were traded during trading, a decline of 69% from the average session volume of 76,988,453 shares. The stock had previously closed at $2.09.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PLUG. HC Wainwright reaffirmed a “buy” rating and set a $18.00 price target on shares of Plug Power in a report on Wednesday, November 13th. Evercore ISI reduced their price objective on shares of Plug Power from $5.00 to $4.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 13th. BTIG Research cut shares of Plug Power from a “buy” rating to a “neutral” rating in a research report on Thursday, November 14th. Wells Fargo & Company reduced their price objective on shares of Plug Power from $3.00 to $2.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 14th. Finally, Susquehanna lifted their price objective on shares of Plug Power from $2.00 to $2.50 and gave the company a “neutral” rating in a research report on Thursday, January 16th. Five analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $4.55.

Plug Power Price Performance

The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15. The company has a market cap of $1.94 billion, a price-to-earnings ratio of -0.99 and a beta of 1.79. The company has a fifty day simple moving average of $2.36 and a two-hundred day simple moving average of $2.25.

Plug Power (NASDAQ:PLUG) last posted its quarterly earnings data 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%. The firm’s revenue was down 12.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.47) EPS. On average, equities research analysts anticipate that Plug Power Inc. will post -1.2 earnings per share for the current fiscal year.

Institutional Trading of Plug Power

A number of large investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its stake in Plug Power by 25.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,637,039 shares of the electronics maker’s stock worth $15,000,000 after buying an additional 1,354,500 shares during the last quarter. XTX Topco Ltd acquired a new stake in Plug Power in the 3rd quarter worth about $2,174,000. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Plug Power by 24.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,421,222 shares of the electronics maker’s stock worth $5,472,000 after buying an additional 476,060 shares during the last quarter. Stifel Financial Corp boosted its stake in Plug Power by 23.4% in the 3rd quarter. Stifel Financial Corp now owns 1,398,398 shares of the electronics maker’s stock worth $3,160,000 after buying an additional 265,514 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its stake in Plug Power by 166.4% in the 3rd quarter. MetLife Investment Management LLC now owns 424,297 shares of the electronics maker’s stock worth $959,000 after buying an additional 265,042 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.