Plug Power (NASDAQ:PLUG) Trading 1.5% Higher – Should You Buy?

Plug Power Inc. (NASDAQ:PLUG) rose 1.5% on Wednesday . The company traded as high as $1.68 and last traded at $1.65. Approximately 26,807,690 shares were traded during trading, a decline of 62% from the average daily volume of 71,424,367 shares. The stock had previously closed at $1.62.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PLUG. StockNews.com raised Plug Power to a “sell” rating in a research report on Monday. Wells Fargo & Company cut their target price on shares of Plug Power from $3.00 to $2.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 14th. Evercore ISI decreased their price target on Plug Power from $5.00 to $4.00 and set an “outperform” rating for the company in a research note on Wednesday, November 13th. Craig Hallum cut their price objective on Plug Power from $4.00 to $3.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. Finally, Susquehanna lifted their target price on Plug Power from $2.00 to $2.50 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. Five analysts have rated the stock with a sell rating, eight have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Plug Power has an average rating of “Hold” and a consensus price target of $4.12.

Plug Power Stock Performance

The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of -0.77 and a beta of 1.79. The company has a 50-day moving average price of $2.31 and a 200-day moving average price of $2.16. The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15.

Plug Power (NASDAQ:PLUG) last announced its quarterly earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). The business had revenue of $173.70 million for the quarter, compared to analyst estimates of $207.25 million. Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. The company’s revenue was down 12.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.47) EPS. As a group, equities research analysts forecast that Plug Power Inc. will post -1.21 earnings per share for the current year.

Institutional Investors Weigh In On Plug Power

Institutional investors have recently bought and sold shares of the stock. Oppenheimer & Co. Inc. acquired a new position in Plug Power during the 4th quarter valued at about $25,000. Pacific Sage Partners LLC acquired a new position in shares of Plug Power during the fourth quarter valued at approximately $25,000. Jones Financial Companies Lllp raised its holdings in Plug Power by 107.4% during the fourth quarter. Jones Financial Companies Lllp now owns 11,730 shares of the electronics maker’s stock worth $25,000 after purchasing an additional 6,074 shares in the last quarter. Callan Family Office LLC acquired a new stake in Plug Power in the fourth quarter worth approximately $27,000. Finally, Prio Wealth Limited Partnership bought a new position in Plug Power during the 3rd quarter valued at $29,000. Institutional investors and hedge funds 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.