Plug Power (NASDAQ:PLUG) Shares Up 10.3% - Should You Buy?

Plug Power Inc. (NASDAQ:PLUG - Get Free Report)'s stock price was up 10.3% on Thursday . The stock traded as high as $2.36 and last traded at $2.35. Approximately 54,148,851 shares changed hands during trading, an increase of 28% from the average daily volume of 42,463,309 shares. The stock had previously closed at $2.13.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PLUG shares. Susquehanna cut their price objective on Plug Power from $3.00 to $2.00 and set a "neutral" rating on the stock in a report on Monday, August 12th. Canaccord Genuity Group cut their price objective on Plug Power from $2.50 to $2.25 and set a "hold" rating on the stock in a report on Wednesday, November 13th. Evercore ISI cut their price objective on Plug Power from $5.00 to $4.00 and set an "outperform" rating on the stock in a report on Wednesday, November 13th. HC Wainwright restated a "buy" rating and issued a $18.00 target price on shares of Plug Power in a research note on Wednesday, November 13th. Finally, Royal Bank of Canada cut their target price on Plug Power from $3.50 to $2.50 and set a "sector perform" rating on the stock in a research note on Monday, August 12th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Plug Power presently has an average rating of "Hold" and a consensus target price of $4.52.

Plug Power Stock Up 15.5 %

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 $2.24 billion, a price-to-earnings ratio of -1.10 and a beta of 1.76. The stock has a fifty day moving average price of $2.10 and a two-hundred day moving average price of $2.33.

Plug Power (NASDAQ:PLUG - Get Free Report) last posted its 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 firm had revenue of $173.70 million for the quarter, compared to analyst estimates of $207.25 million. During the same period in the prior year, the business posted ($0.47) EPS. The firm's quarterly revenue was down 12.6% compared to the same quarter last year. As a group, sell-side analysts expect that Plug Power Inc. will post -1.2 EPS for the current year.

Institutional Investors Weigh In On Plug Power

Hedge funds and other institutional investors have recently modified their holdings of the company. SteelPeak Wealth LLC acquired a new position in Plug Power in the second quarter valued at about $26,000. Nations Financial Group Inc. IA ADV bought a new position in Plug Power in the second quarter valued at about $26,000. Aire Advisors LLC bought a new position in Plug Power in the second quarter valued at about $28,000. Madison Park Capital Advisors LLC bought a new position in Plug Power in the second quarter valued at about $29,000. Finally, Profund Advisors LLC bought a new position in Plug Power in the second quarter valued at about $29,000. Institutional investors and hedge funds own 43.48% of the company's stock.

About Plug Power

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.

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