Plug Power (NASDAQ:PLUG) Shares Up 9.6% - What's Next?

Plug Power Inc. (NASDAQ:PLUG - Get Free Report)'s share price shot up 9.6% on Friday . The company traded as high as $2.53 and last traded at $2.52. 27,963,316 shares traded hands during mid-day trading, a decline of 35% from the average session volume of 43,295,191 shares. The stock had previously closed at $2.30.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Evercore ISI cut their price objective on Plug Power from $5.00 to $4.00 and set an "outperform" rating for the company in a research report on Wednesday, November 13th. BTIG Research downgraded shares of Plug Power from a "buy" rating to a "neutral" rating in a report on Thursday, November 14th. Wells Fargo & Company reduced their price objective on shares of Plug Power from $3.00 to $2.00 and set an "equal weight" rating for the company in a research note on Thursday, November 14th. Jefferies Financial Group lowered their target price on shares of Plug Power from $2.20 to $2.00 and set a "hold" rating on the stock in a research report on Thursday, October 3rd. Finally, Canaccord Genuity Group dropped their target price on shares of Plug Power from $2.50 to $2.25 and set a "hold" rating for the company in a report on Wednesday, November 13th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Plug Power currently has a consensus rating of "Hold" and a consensus target price of $4.52.

Plug Power Trading Up 11.3 %

The stock has a market cap of $2.33 billion, a PE ratio of -1.20 and a beta of 1.76. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 2.08. The business has a 50-day moving average of $2.17 and a 200 day moving average of $2.28.

Plug Power (NASDAQ:PLUG - Get Free Report) last issued 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). The firm had revenue of $173.70 million for the quarter, compared to analysts' expectations of $207.25 million. Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. The business's quarterly revenue was down 12.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.47) earnings per share. Equities research analysts predict that Plug Power Inc. will post -1.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PLUG. Geode Capital Management LLC grew its position in shares of Plug Power by 23.6% in the third quarter. Geode Capital Management LLC now owns 19,194,629 shares of the electronics maker's stock valued at $43,388,000 after purchasing an additional 3,662,456 shares during the period. Charles Schwab Investment Management Inc. boosted its stake 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 worth $15,000,000 after buying an additional 1,354,500 shares during the last quarter. Van ECK Associates Corp grew its holdings in 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 valued at $8,803,000 after buying an additional 809,187 shares during the period. Vontobel Holding Ltd. increased its stake in shares of Plug Power by 44.3% during the 3rd quarter. Vontobel Holding Ltd. now owns 3,426,354 shares of the electronics maker's stock valued at $7,744,000 after acquiring an additional 1,051,400 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Plug Power by 69.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,530,346 shares of the electronics maker's stock valued at $5,896,000 after acquiring an additional 1,036,777 shares during the last quarter. 43.48% of the stock is currently owned by institutional investors and hedge funds.

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.