Plug Power (NASDAQ:PLUG) Trading Up 5.6% – Time to Buy?

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

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PLUG. Susquehanna upped their target price on Plug Power from $1.80 to $3.50 and gave the stock a “neutral” rating in a research report on Monday, October 13th. Jefferies Financial Group raised their price objective on shares of Plug Power from $0.90 to $1.60 and gave the company a “hold” rating in a research note on Wednesday, July 23rd. Wells Fargo & Company lifted their price objective on shares of Plug Power from $1.00 to $1.50 and gave the company an “equal weight” rating in a report on Thursday, August 14th. HSBC set a $4.40 price target on shares of Plug Power in a research report on Thursday, October 9th. Finally, BMO Capital Markets decreased their price objective on Plug Power from $1.10 to $1.00 and set an “underperform” rating for the company in a report on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have given a Hold rating and six have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $2.54.

Plug Power Stock Performance

The company’s 50 day simple moving average is $2.59 and its 200 day simple moving average is $1.72. The stock has a market cap of $3.06 billion, a PE ratio of -1.15 and a beta of 2.28. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 1.59.

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). The business had revenue of $173.97 million for the quarter, compared to the consensus estimate of $157.97 million. Plug Power had a negative return on equity of 90.22% and a negative net margin of 292.84%. Analysts expect that Plug Power, Inc. will post -1.21 earnings per share for the current year.

Institutional Inflows and Outflows

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