Plug Power (NASDAQ:PLUG) Trading 5.6% Higher – Still a Buy?

Shares of Plug Power, Inc. (NASDAQ:PLUG) traded up 5.6% on Friday . The company traded as high as $2.70 and last traded at $2.65. 115,990,192 shares changed hands during mid-day trading, an increase of 22% from the average session volume of 94,819,055 shares. The stock had previously closed at $2.51.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Plug Power in a report on Wednesday, October 8th. 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. HSBC set a $4.40 price objective on Plug Power in a report on Thursday, October 9th. Susquehanna upped their target price on Plug Power from $1.80 to $3.50 and gave the stock a “neutral” rating in a report on Monday, October 13th. Finally, BMO Capital Markets dropped their target price on Plug Power from $1.10 to $1.00 and set an “underperform” rating for the company in a research report on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have issued a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat, Plug Power has an average rating of “Hold” and a consensus target price of $2.54.

Plug Power Stock Performance

The company’s 50-day moving average price is $2.59 and its two-hundred day moving average price is $1.72. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of -1.15 and a beta of 2.28. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.59 and a quick ratio of 0.82.

Plug Power (NASDAQ:PLUG) last issued its quarterly earnings results 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 firm had revenue of $173.97 million for the quarter, compared to the consensus estimate of $157.97 million. On average, equities research analysts anticipate that Plug Power, Inc. will post -1.21 EPS for the current fiscal year.

Institutional Investors Weigh In On Plug Power

Hedge funds have recently added to or reduced their stakes in the business. Sender Co & Partners Inc. bought a new position in shares of Plug Power during the 2nd quarter worth approximately $26,000. Yousif Capital Management LLC acquired a new position in shares of Plug Power during the 3rd quarter valued at $27,000. Baader Bank Aktiengesellschaft bought a new position in Plug Power during the first quarter worth $28,000. O ROURKE & COMPANY Inc acquired a new stake in Plug Power in the second quarter worth $30,000. Finally, Abel Hall LLC bought a new stake in Plug Power in the second quarter valued at $30,000. 43.48% of the stock is currently owned by institutional investors.

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.