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

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

Wall Street Analyst Weigh In

PLUG has been the subject of several recent research reports. Jefferies Financial Group lowered their price objective on Plug Power from $2.20 to $2.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Craig Hallum reduced their price objective on shares of Plug Power from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Canaccord Genuity Group decreased their price objective on shares of Plug Power from $2.50 to $2.25 and set a “hold” rating for the company in a research report on Wednesday, November 13th. HC Wainwright reissued a “buy” rating and issued a $18.00 target price on shares of Plug Power in a report on Wednesday, November 13th. Finally, Piper Sandler decreased their price target on Plug Power from $1.60 to $1.40 and set an “underweight” rating for the company in a report on Thursday, November 14th. Four 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, Plug Power presently has an average rating of “Hold” and an average target price of $4.46.

Plug Power Stock Down 0.5 %

The company has a debt-to-equity ratio of 0.15, a current ratio of 2.08 and a quick ratio of 0.95. The firm’s 50-day moving average price is $2.36 and its 200 day moving average price is $2.24. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of -0.97 and a beta of 1.79.

Plug Power (NASDAQ:PLUG) last issued its quarterly earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. The business had revenue of $173.70 million for the quarter, compared to analysts’ expectations of $207.25 million. During the same period in the prior year, the company earned ($0.47) EPS. The company’s revenue for the quarter was down 12.6% compared to the same quarter last year. Sell-side analysts expect that Plug Power Inc. will post -1.2 EPS for the current year.

Institutional Trading of Plug Power

Large investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. boosted its stake in shares of Plug Power by 16.2% during the 2nd quarter. American Century Companies Inc. now owns 572,938 shares of the electronics maker’s stock valued at $1,335,000 after buying an additional 79,802 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Plug Power by 20.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,109,530 shares of the electronics maker’s stock valued at $2,588,000 after acquiring an additional 187,205 shares during the last quarter. Profund Advisors LLC acquired a new stake in shares of Plug Power during the 2nd quarter valued at approximately $29,000. Gabelli Funds LLC lifted its stake in Plug Power by 20.0% during the second quarter. Gabelli Funds LLC now owns 300,000 shares of the electronics maker’s stock worth $699,000 after purchasing an additional 50,000 shares during the last quarter. Finally, Xponance Inc. lifted its stake in Plug Power by 118.4% during the second quarter. Xponance Inc. now owns 40,035 shares of the electronics maker’s stock worth $93,000 after purchasing an additional 21,707 shares during the last quarter. 43.48% of the stock is currently owned by institutional investors and hedge funds.

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.