Plug Power (NASDAQ:PLUG) Stock Price Up 34.6% – Time to Buy?

Shares of Plug Power, Inc. (NASDAQ:PLUG) shot up 34.6% on Friday . The stock traded as high as $3.95 and last traded at $3.81. 495,301,229 shares traded hands during mid-day trading, an increase of 455% from the average session volume of 89,303,484 shares. The stock had previously closed at $2.83.

Analyst Ratings Changes

Several brokerages have recently weighed in on PLUG. Wells Fargo & Company increased their price target on Plug Power from $1.00 to $1.50 and gave the company an “equal weight” rating in a research note on Thursday, August 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Plug Power in a research note on Saturday, September 27th. Susquehanna lifted their price target on Plug Power from $1.00 to $1.80 and gave the company a “neutral” rating in a research report on Monday, July 21st. Evercore ISI upgraded Plug Power to a “strong sell” rating in a research report on Tuesday, July 15th. Finally, BMO Capital Markets dropped their price target on Plug Power from $1.10 to $1.00 and set an “underperform” rating for the company in a research note on Tuesday, August 12th. Four equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and six have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $2.19.

Plug Power Price Performance

The stock has a market capitalization of $4.40 billion, a price-to-earnings ratio of -1.65 and a beta of 2.23. The stock has a 50-day moving average price of $1.81 and a 200 day moving average price of $1.39. The company has a current ratio of 1.59, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22.

Plug Power (NASDAQ:PLUG) last released its quarterly earnings data on Monday, August 11th. The electronics maker reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). Plug Power had a negative net margin of 292.84% and a negative return on equity of 90.22%. The business had revenue of $173.97 million during the quarter, compared to analyst estimates of $157.97 million. As a group, equities research analysts expect that Plug Power, Inc. will post -1.21 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in PLUG. Miracle Mile Advisors LLC purchased a new position in shares of Plug Power during the first quarter valued at approximately $26,000. Sender Co & Partners Inc. purchased a new position in shares of Plug Power in the second quarter valued at $26,000. Baader Bank Aktiengesellschaft bought a new position in Plug Power during the 1st quarter valued at $28,000. O ROURKE & COMPANY Inc bought a new position in Plug Power during the 2nd quarter valued at $30,000. Finally, Abel Hall LLC bought a new position in shares of Plug Power in the 2nd quarter worth about $30,000. 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.