Plug Power (NASDAQ:PLUG) Trading Up 10.8% – Still a Buy?

Plug Power Inc. (NASDAQ:PLUG)’s stock price traded up 10.8% during trading on Tuesday . The stock traded as high as $0.92 and last traded at $0.91. 88,206,576 shares traded hands during mid-day trading, an increase of 38% from the average session volume of 63,894,895 shares. The stock had previously closed at $0.82.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Morgan Stanley lowered their target price on Plug Power from $1.25 to $0.50 and set an “underweight” rating on the stock in a research report on Monday, May 19th. B. Riley decreased their price target on Plug Power from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. UBS Group cut their price objective on shares of Plug Power from $2.50 to $1.75 and set a “neutral” rating on the stock in a research note on Friday, March 21st. Piper Sandler reduced their price objective on shares of Plug Power from $1.10 to $0.80 and set an “underweight” rating for the company in a report on Wednesday, May 14th. Finally, Wall Street Zen upgraded shares of Plug Power to a “sell” rating in a research note on Tuesday, May 13th. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Plug Power presently has an average rating of “Hold” and a consensus target price of $1.83.

Plug Power Stock Up 10.7%

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 stock has a market cap of $983.88 million, a price-to-earnings ratio of -0.43 and a beta of 2.19. The business’s 50 day moving average is $0.96 and its 200 day moving average is $1.68.

Plug Power (NASDAQ:PLUG) last released its earnings results on Monday, May 12th. The electronics maker reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) 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 $133.67 million during the quarter, compared to analysts’ expectations of $130.92 million. Equities analysts expect that Plug Power Inc. will post -1.21 earnings per share for the current year.

Insider Activity

In related news, CFO Paul B. Middleton bought 350,000 shares of the firm’s stock in a transaction on Friday, May 16th. The stock was bought at an average price of $0.72 per share, with a total value of $252,000.00. Following the purchase, the chief financial officer now directly owns 1,908,064 shares of the company’s stock, valued at approximately $1,373,806.08. This represents a 22.46% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.70% of the stock is owned by corporate insiders.

Institutional Trading of Plug Power

A number of institutional investors have recently bought and sold shares of the company. Swedbank AB increased its stake in shares of Plug Power by 39.7% during the 4th quarter. Swedbank AB now owns 235,233 shares of the electronics maker’s stock worth $501,000 after purchasing an additional 66,844 shares during the last quarter. Empowered Funds LLC bought a new stake in Plug Power in the fourth quarter worth $214,000. Savant Capital LLC acquired a new position in Plug Power during the fourth quarter worth $31,000. Sovran Advisors LLC bought a new position in Plug Power during the fourth quarter valued at about $127,000. Finally, Avidian Wealth Enterprises LLC bought a new position in Plug Power during the fourth quarter valued at about $35,000. 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.