Plug Power (NASDAQ:PLUG) Trading Up 5.7% – Still a Buy?

Plug Power, Inc. (NASDAQ:PLUG) shares rose 5.7% on Wednesday . The company traded as high as $2.25 and last traded at $2.23. Approximately 104,399,139 shares were traded during trading, an increase of 8% from the average daily volume of 96,732,094 shares. The stock had previously closed at $2.11.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PLUG shares. BMO Capital Markets reduced their price target on shares of Plug Power from $1.10 to $1.00 and set an “underperform” rating on the stock in a research note on Tuesday, August 12th. Hsbc Global Res upgraded shares of Plug Power to a “strong-buy” rating in a report on Thursday, October 9th. Cowen reissued a “buy” rating on shares of Plug Power in a research report on Wednesday, November 19th. Wall Street Zen lowered Plug Power from a “hold” rating to a “sell” rating in a research report on Sunday, November 16th. Finally, Wells Fargo & Company lifted their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, six have given a Hold rating and six have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $2.80.

Plug Power Stock Performance

The stock has a market capitalization of $3.11 billion, a PE ratio of -0.94 and a beta of 1.74. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.70 and a current ratio of 1.32. The firm’s 50 day moving average is $2.75 and its two-hundred day moving average is $1.90.

Plug Power (NASDAQ:PLUG) last posted its quarterly earnings results on Monday, November 10th. The electronics maker reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.01. Plug Power had a negative net margin of 313.69% and a negative return on equity of 105.98%. The business had revenue of $177.06 million during the quarter, compared to the consensus estimate of $185.41 million. As a group, research analysts predict that Plug Power, Inc. will post -1.21 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Benjamin Haycraft sold 10,000 shares of the business’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $2.92, for a total transaction of $29,200.00. Following the completion of the transaction, the executive vice president directly owned 467,583 shares of the company’s stock, valued at $1,365,342.36. The trade was a 2.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.41% of the stock is owned by insiders.

Hedge Funds Weigh In On Plug Power

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Plug Power by 7.6% during the third quarter. Vanguard Group Inc. now owns 109,631,956 shares of the electronics maker’s stock worth $255,442,000 after buying an additional 7,789,039 shares in the last quarter. Geode Capital Management LLC lifted its stake in Plug Power by 14.9% in the second quarter. Geode Capital Management LLC now owns 24,071,904 shares of the electronics maker’s stock worth $35,872,000 after acquiring an additional 3,125,542 shares during the last quarter. Heights Capital Management Inc. acquired a new position in Plug Power during the 1st quarter worth approximately $31,174,000. Legal & General Group Plc increased its position in shares of Plug Power by 4.2% in the 3rd quarter. Legal & General Group Plc now owns 17,695,077 shares of the electronics maker’s stock valued at $41,230,000 after purchasing an additional 714,212 shares during the last quarter. Finally, Two Sigma Investments LP raised its holdings in shares of Plug Power by 292.1% in the 3rd quarter. Two Sigma Investments LP now owns 10,830,893 shares of the electronics maker’s stock valued at $25,236,000 after purchasing an additional 8,068,713 shares in the last quarter. Hedge funds and other 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.