Plug Power (NASDAQ:PLUG) Trading Up 1.8% - Time to Buy?

Plug Power Inc. (NASDAQ:PLUG - Get Free Report) shares were up 1.8% on Tuesday . The company traded as high as $2.04 and last traded at $2.03. Approximately 13,564,652 shares changed hands during trading, a decline of 67% from the average daily volume of 41,186,891 shares. The stock had previously closed at $1.99.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Evercore ISI decreased their price objective on Plug Power from $5.00 to $4.00 and set an "outperform" rating for the company in a report on Wednesday, November 13th. HC Wainwright reiterated a "buy" rating and set a $18.00 price target on shares of Plug Power in a research note on Wednesday, November 13th. Truist Financial decreased their target price on shares of Plug Power from $3.00 to $2.00 and set a "hold" rating for the company in a research report on Monday, August 12th. Canaccord Genuity Group dropped their price objective on shares of Plug Power from $2.50 to $2.25 and set a "hold" rating on the stock in a research note on Wednesday, November 13th. Finally, Susquehanna reduced their price target on Plug Power from $3.00 to $2.00 and set a "neutral" rating for the company in a report on Monday, August 12th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Plug Power currently has a consensus rating of "Hold" and a consensus target price of $4.52.

Plug Power Stock Down 2.9 %

The firm has a market capitalization of $1.76 billion, a PE ratio of -0.95 and a beta of 1.81. The business's fifty day moving average price is $2.08 and its 200 day moving average price is $2.40. The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15.

Plug Power (NASDAQ:PLUG - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share (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 period in the prior year, the firm posted ($0.47) earnings per share. The business's quarterly revenue was down 12.6% compared to the same quarter last year. On average, equities research analysts forecast that Plug Power Inc. will post -1.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Plug Power

A number of institutional investors and hedge funds have recently made changes to their positions in PLUG. Geode Capital Management LLC grew its position in Plug Power by 23.6% during the third quarter. Geode Capital Management LLC now owns 19,194,629 shares of the electronics maker's stock worth $43,388,000 after buying an additional 3,662,456 shares during the period. Swedbank AB purchased a new position in Plug Power in the 1st quarter valued at approximately $10,687,000. SG Americas Securities LLC raised its holdings in Plug Power by 134.0% during the second quarter. SG Americas Securities LLC now owns 2,458,537 shares of the electronics maker's stock worth $5,728,000 after purchasing an additional 1,407,858 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Plug Power by 25.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,637,039 shares of the electronics maker's stock worth $15,000,000 after purchasing an additional 1,354,500 shares in the last quarter. Finally, Vontobel Holding Ltd. grew its holdings in Plug Power by 44.3% in the third quarter. Vontobel Holding Ltd. now owns 3,426,354 shares of the electronics maker's stock valued at $7,744,000 after purchasing an additional 1,051,400 shares during the last quarter. 43.48% of the stock is 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.

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