Plug Power (NASDAQ:PLUG) Trading Up 2.4% - Still a Buy?

Plug Power Inc. (NASDAQ:PLUG - Get Free Report)'s stock price was up 2.4% during mid-day trading on Monday . The stock traded as high as $1.93 and last traded at $1.92. Approximately 11,374,176 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 41,072,801 shares. The stock had previously closed at $1.87.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Canaccord Genuity Group decreased their price objective on Plug Power from $2.50 to $2.25 and set a "hold" rating on the stock in a research note on Wednesday, November 13th. Craig Hallum reduced their price objective on Plug Power from $4.00 to $3.00 and set a "buy" rating on the stock in a research note on Thursday. Wells Fargo & Company reduced their price objective on Plug Power from $3.00 to $2.00 and set an "equal weight" rating on the stock in a research note on Thursday. HC Wainwright reiterated a "buy" rating and issued a $18.00 target price on shares of Plug Power in a report on Wednesday, November 13th. Finally, Jefferies Financial Group dropped their price objective on Plug Power from $2.20 to $2.00 and set a "hold" rating for the company in a report on Thursday, October 3rd. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $4.52.

Plug Power Trading Up 5.6 %

The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of -0.95 and a beta of 1.81. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.91 and a current ratio of 2.08. The firm has a fifty day moving average of $2.08 and a 200-day moving average of $2.40.

Plug Power (NASDAQ:PLUG - Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) EPS 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 during the quarter, compared to analyst estimates of $207.25 million. During the same quarter last year, the business posted ($0.47) earnings per share. The firm's revenue for the quarter was down 12.6% on a year-over-year basis. As a group, equities analysts predict that Plug Power Inc. will post -1.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Plug Power

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Plug Power by 1.9% in the first quarter. Vanguard Group Inc. now owns 54,986,479 shares of the electronics maker's stock valued at $189,153,000 after purchasing an additional 999,194 shares in the last quarter. Geode Capital Management LLC raised its holdings in Plug Power by 23.6% in the 3rd quarter. Geode Capital Management LLC now owns 19,194,629 shares of the electronics maker's stock valued at $43,388,000 after acquiring an additional 3,662,456 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings 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 valued at $15,000,000 after acquiring an additional 1,354,500 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Plug Power by 23.6% in the 3rd quarter. Van ECK Associates Corp now owns 4,232,001 shares of the electronics maker's stock worth $8,803,000 after buying an additional 809,187 shares in the last quarter. Finally, Vontobel Holding Ltd. raised its holdings in shares of Plug Power by 44.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 3,426,354 shares of the electronics maker's stock worth $7,744,000 after buying an additional 1,051,400 shares in the last quarter. Institutional investors 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.

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