Plug Power (NASDAQ:PLUG) Trading Up 10.6% – Still a Buy?

Plug Power, Inc. (NASDAQ:PLUG) traded up 10.6% on Thursday . The company traded as high as $2.53 and last traded at $2.4550. 71,368,522 shares were traded during mid-day trading, a decline of 27% from the average session volume of 98,009,289 shares. The stock had previously closed at $2.22.

Plug Power News Roundup

Here are the key news stories impacting Plug Power this week:

• Positive Sentiment: Completion of 100 MW GenEco electrolyzer installation at Galp’s Sines refinery — a major, visible milestone in one of Europe’s largest renewable-hydrogen projects that supports Plug Power’s project backlog, commercial credibility and long-term revenue potential. Plug Power Completes Installation of 100 MW GenEco Electrolyzer Units at Galp’s Sines Refinery
• Positive Sentiment: CEO Reddit AMA and Q&A drew investor attention and apparent support ahead of a special shareholder meeting, sparking heavy volume and a sharp short-term rally as management sought to persuade shareholders on a funding/dilution plan. What’s Happening With PLUG Stock?
• Positive Sentiment: Agreement with Walmart to cancel a stock warrant removes a potential overhang, simplifying the cap table and reducing future dilution risk if executed favorably. Plug Power, Walmart reach agreement to cancel stock warrant
• Neutral Sentiment: Recent Q4/earnings-call transcript provides detail on operations and cash needs; useful for investors but did not dramatically change guidance — the upcoming shareholder vote will more directly affect funding. Plug Power (PLUG) Q4 2024 Earnings Call Transcript
• Negative Sentiment: Management paired the critical share-dilution vote with a CEO transition and the AMA; some investors reacted negatively to the governance timing and potential dilution, prompting a pullback after the earlier rally. Why Plug Power (PLUG) Is Down 5.5% After Pairing Share-Dilution Vote With CEO Transition And AMA
• Negative Sentiment: Technicals and analyst caution: some chart analysts warn of a risky reversal pattern and brokerages keep a neutral/hold consensus, which can amplify selling if the shareholder vote or funding details disappoint. Plug Power stock price has rebounded, but a risky pattern points to a dive

Analyst Upgrades and Downgrades

A number of analysts have commented on PLUG shares. Clear Str raised Plug Power from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 31st. HC Wainwright reaffirmed a “buy” rating and set a $7.00 price objective on shares of Plug Power in a research report on Monday, November 24th. HSBC set a $4.40 price objective on Plug Power in a report on Thursday, October 9th. Hsbc Global Res raised Plug Power to a “strong-buy” rating in a research report on Thursday, October 9th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Plug Power in a research note on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have issued a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $2.73.

Plug Power Stock Performance

The company has a market cap of $3.47 billion, a P/E ratio of -1.05 and a beta of 1.68. The company has a quick ratio of 0.70, a current ratio of 1.32 and a debt-to-equity ratio of 0.24. The business has a fifty day simple moving average of $2.17 and a two-hundred day simple moving average of $2.19.

Plug Power (NASDAQ:PLUG) last released its quarterly earnings results on Monday, November 10th. The electronics maker reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.01. The firm had revenue of $177.06 million during the quarter, compared to analyst estimates of $185.41 million. Plug Power had a negative net margin of 313.69% and a negative return on equity of 105.98%. On average, sell-side analysts anticipate that Plug Power, Inc. will post -1.21 EPS for the current year.

Insider Activity at Plug Power

In related news, insider Benjamin Haycraft sold 40,000 shares of the firm’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $2.20, for a total value of $88,000.00. Following the transaction, the insider directly owned 373,809 shares of the company’s stock, valued at approximately $822,379.80. This trade represents a 9.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jose Luis Crespo bought 37,300 shares of the stock in a transaction that occurred on Monday, December 15th. The shares were bought at an average price of $2.34 per share, for a total transaction of $87,282.00. Following the completion of the transaction, the insider directly owned 307,332 shares of the company’s stock, valued at $719,156.88. This represents a 13.81% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold 90,000 shares of company stock worth $204,000 over the last quarter. Insiders own 0.56% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Plug Power by 12.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,607,153 shares of the electronics maker’s stock valued at $3,520,000 after acquiring an additional 297,754 shares during the period. Focus Partners Wealth purchased a new position in Plug Power during the first quarter valued at approximately $37,000. Brave Asset Management Inc. boosted its position in shares of Plug Power by 603.8% in the second quarter. Brave Asset Management Inc. now owns 140,400 shares of the electronics maker’s stock worth $209,000 after purchasing an additional 120,450 shares during the period. CX Institutional boosted its position in shares of Plug Power by 2,039.8% in the second quarter. CX Institutional now owns 41,961 shares of the electronics maker’s stock worth $63,000 after purchasing an additional 40,000 shares during the period. Finally, MinichMacGregor Wealth Management LLC increased its stake in shares of Plug Power by 334.9% in the second quarter. MinichMacGregor Wealth Management LLC now owns 55,243 shares of the electronics maker’s stock worth $82,000 after purchasing an additional 42,540 shares in the last quarter. Institutional investors own 43.48% of the company’s stock.

Plug Power Company Profile

Plug Power Inc is a U.S.-based company specializing in the design and manufacture of hydrogen fuel cell systems that serve as clean energy replacements for conventional batteries in electric vehicles and material handling equipment. Its core solutions include ProGen fuel cell engines, GenDrive power systems for forklifts and warehouse vehicles, and GenFuel hydrogen refueling infrastructure. These offerings are sold as standalone components or integrated turnkey solutions under the GenKey brand, providing customers with on-site refueling, equipment installation and maintenance services.

In addition to its fuel cell and refueling products, Plug Power develops backup power and off-grid energy solutions through its GenSure line, which targets telecommunications, data centers and utility applications.