Plug Power (NASDAQ:PLUG) Trading 0.7% Higher - Should You Buy?

Plug Power Inc. (NASDAQ:PLUG - Get Free Report) traded up 0.7% on Tuesday . The stock traded as high as $3.00 and last traded at $2.73. 25,968,977 shares were traded during mid-day trading, a decline of 67% from the average session volume of 79,100,680 shares. The stock had previously closed at $2.71.

Analyst Ratings Changes

A number of research firms have weighed in on PLUG. Jefferies Financial Group decreased their price target on Plug Power from $2.20 to $2.00 and set a "hold" rating for the company in a research note on Thursday, October 3rd. HC Wainwright restated a "buy" rating and set a $18.00 target price on shares of Plug Power in a report on Wednesday, November 13th. 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. Craig Hallum dropped their target price 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. Finally, Piper Sandler reduced 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 issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Plug Power presently has an average rating of "Hold" and a consensus price target of $4.52.

Plug Power Stock Down 1.8 %

The stock has a 50-day moving average of $2.30 and a 200 day moving average of $2.24. 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 company has a market cap of $2.42 billion, a P/E ratio of -1.24 and a beta of 1.79.

Plug Power (NASDAQ:PLUG - Get Free Report) last issued its earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.01). Plug Power had a negative net margin of 214.05% and a negative return on equity of 46.99%. The firm had revenue of $173.70 million during the quarter, compared to analyst estimates of $207.25 million. During the same quarter in the previous year, the firm posted ($0.47) earnings per share. Plug Power's quarterly revenue was down 12.6% compared to the same quarter last year. Research analysts anticipate that Plug Power Inc. will post -1.2 earnings per share for the current year.

Institutional Investors Weigh In On Plug Power

A number of large investors have recently modified their holdings of the business. Profund Advisors LLC acquired a new position in shares of Plug Power during the 2nd quarter worth $29,000. Prio Wealth Limited Partnership acquired a new position in Plug Power during the third quarter worth about $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 worth $29,000 after acquiring an additional 5,631 shares in the last quarter. First Commonwealth Financial Corp PA bought a new position in shares of Plug Power in the third quarter worth about $29,000. Finally, Millburn Ridgefield Corp boosted its stake in shares of Plug Power by 79.9% in the 3rd 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 in 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.