Plug Power (NASDAQ:PLUG) Trading 0.7% Higher – Still a Buy?

Plug Power Inc. (NASDAQ:PLUG)’s share price traded up 0.7% during trading on Tuesday . The company 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.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Susquehanna boosted their target price on shares of Plug Power from $2.00 to $2.50 and gave the stock a “neutral” rating in a research note on Thursday. BTIG Research lowered Plug Power from a “buy” rating to a “neutral” rating in a report on Thursday, November 14th. Wells Fargo & Company decreased their price objective on Plug Power from $3.00 to $2.00 and set an “equal weight” rating on the stock in a report on Thursday, November 14th. Evercore ISI lowered their target price on shares of Plug Power from $5.00 to $4.00 and set an “outperform” rating for the company in a research note on Wednesday, November 13th. Finally, Piper Sandler lowered their price target on Plug Power from $1.60 to $1.40 and set an “underweight” rating for the company in a research report on Thursday, November 14th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $4.55.

Plug Power Stock Up 1.1 %

The firm has a market cap of $2.50 billion, a price-to-earnings ratio of -1.28 and a beta of 1.79. The stock’s 50 day moving average is $2.32 and its 200 day moving average is $2.25. 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) last posted its quarterly earnings data on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share 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 business had revenue of $173.70 million for the quarter, compared to the consensus estimate of $207.25 million. During the same quarter last year, the business posted ($0.47) EPS. The business’s revenue for the quarter was down 12.6% on a year-over-year basis. Analysts forecast that Plug Power Inc. will post -1.2 EPS for the current year.

Institutional Trading of Plug Power

Several large investors have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC raised its position in Plug Power by 8.9% during the second quarter. Commonwealth Equity Services LLC now owns 356,973 shares of the electronics maker’s stock valued at $832,000 after buying an additional 29,134 shares during the period. Rhumbline Advisers increased its holdings in shares of Plug Power by 97.2% in the 2nd quarter. Rhumbline Advisers now owns 1,296,047 shares of the electronics maker’s stock valued at $3,020,000 after purchasing an additional 638,761 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Plug Power by 8.6% in the 2nd quarter. Victory Capital Management Inc. now owns 88,102 shares of the electronics maker’s stock valued at $205,000 after purchasing an additional 7,014 shares during the period. Arizona State Retirement System boosted its holdings in shares of Plug Power by 21.5% during the second quarter. Arizona State Retirement System now owns 181,982 shares of the electronics maker’s stock worth $424,000 after purchasing an additional 32,217 shares during the period. Finally, Choreo LLC purchased a new position in Plug Power during the second quarter valued at approximately $65,000. 43.48% of the stock is 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.