Plug Power (NASDAQ:PLUG) Trading Up 3.3% – Still a Buy?

Plug Power Inc. (NASDAQ:PLUG)’s share price shot up 3.3% on Thursday . The company traded as high as $1.72 and last traded at $1.71. 14,453,743 shares were traded during trading, a decline of 79% from the average session volume of 70,357,977 shares. The stock had previously closed at $1.65.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PLUG. HC Wainwright reiterated a “buy” rating and set a $18.00 price target on shares of Plug Power in a research report on Wednesday, November 13th. BTIG Research lowered Plug Power from a “buy” rating to a “neutral” rating in a report on Thursday, November 14th. Evercore ISI decreased their price objective on Plug Power from $5.00 to $4.00 and set an “outperform” rating for the company in a report on Wednesday, November 13th. Wells Fargo & Company decreased their price objective on Plug Power from $3.00 to $2.00 and set an “equal weight” rating for the company in a report on Thursday, November 14th. Finally, Craig Hallum decreased their price objective on Plug Power from $4.00 to $3.00 and set a “buy” rating for the company in a report on Thursday, November 14th. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Plug Power presently has an average rating of “Hold” and a consensus price target of $4.12.

Plug Power Trading Up 7.0 %

The stock has a market capitalization of $1.61 billion, a P/E ratio of -0.83 and a beta of 1.79. 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 simple moving average of $2.30 and a 200-day simple moving average of $2.15.

Plug Power (NASDAQ:PLUG) last released 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). The company had revenue of $173.70 million for the quarter, compared to the consensus estimate 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 revenue was down 12.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.47) earnings per share. On average, analysts predict that Plug Power Inc. will post -1.21 EPS for the current year.

Institutional Investors Weigh In On Plug Power

Several large investors have recently modified their holdings of PLUG. Norges Bank bought a new stake in shares of Plug Power during the 4th quarter worth $146,465,000. Vanguard Group Inc. lifted its holdings in shares of Plug Power by 5.4% in the fourth quarter. Vanguard Group Inc. now owns 87,438,503 shares of the electronics maker’s stock valued at $186,244,000 after purchasing an additional 4,491,114 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Plug Power by 23.6% during the third quarter. Geode Capital Management LLC now owns 19,194,629 shares of the electronics maker’s stock worth $43,388,000 after acquiring an additional 3,662,456 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Plug Power during the fourth quarter worth $6,235,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Plug Power by 25.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,637,039 shares of the electronics maker’s stock worth $15,000,000 after acquiring an additional 1,354,500 shares in the last quarter. 43.48% of the stock is owned by institutional investors.

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.