Plug Power (NASDAQ:PLUG) Stock Price Up 2.3% – Still a Buy?

Plug Power, Inc. (NASDAQ:PLUG)’s stock price rose 2.3% during mid-day trading on Tuesday . The company traded as high as $2.31 and last traded at $2.21. Approximately 98,825,484 shares traded hands during mid-day trading, an increase of 2% from the average daily volume of 96,830,313 shares. The stock had previously closed at $2.16.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PLUG shares. Susquehanna dropped their price objective on shares of Plug Power from $3.50 to $2.50 and set a “neutral” rating for the company in a research note on Monday, November 17th. HSBC set a $4.40 target price on shares of Plug Power in a report on Thursday, October 9th. Morgan Stanley reiterated an “underweight” rating and issued a $1.50 price target on shares of Plug Power in a report on Thursday, October 16th. Cowen reissued a “buy” rating on shares of Plug Power in a research note on Wednesday, November 19th. Finally, Wall Street Zen downgraded Plug Power from a “hold” rating to a “sell” rating in a report on Sunday, November 16th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, six have issued a Hold rating and six have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Plug Power presently has a consensus rating of “Hold” and an average target price of $2.80.

Plug Power Stock Up 4.4%

The firm has a 50-day simple moving average of $2.71 and a 200 day simple moving average of $1.95. The company has a market capitalization of $3.29 billion, a PE ratio of -1.00 and a beta of 1.74. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.32 and a quick ratio of 0.70.

Plug Power (NASDAQ:PLUG) last issued its earnings results on Monday, November 10th. The electronics maker reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.01. The company had revenue of $177.06 million during the quarter, compared to the consensus estimate of $185.41 million. Plug Power had a negative return on equity of 105.98% and a negative net margin of 313.69%. On average, research analysts predict that Plug Power, Inc. will post -1.21 EPS for the current fiscal year.

Insider Transactions at Plug Power

In other news, EVP Benjamin Haycraft sold 10,000 shares of Plug Power stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $2.92, for a total transaction of $29,200.00. Following the sale, the executive vice president owned 467,583 shares in the company, valued at $1,365,342.36. This trade represents a 2.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.41% of the stock is owned by company insiders.

Institutional Investors Weigh In On Plug Power

A number of large investors have recently added to or reduced their stakes in PLUG. Profund Advisors LLC lifted its stake in shares of Plug Power by 24.4% in the third quarter. Profund Advisors LLC now owns 20,188 shares of the electronics maker’s stock worth $47,000 after acquiring an additional 3,961 shares in the last quarter. SlateStone Wealth LLC raised its position in shares of Plug Power by 16.0% in the 3rd quarter. SlateStone Wealth LLC now owns 29,077 shares of the electronics maker’s stock valued at $68,000 after purchasing an additional 4,000 shares in the last quarter. Signature Estate & Investment Advisors LLC boosted its stake in shares of Plug Power by 33.4% during the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 18,414 shares of the electronics maker’s stock valued at $43,000 after buying an additional 4,615 shares during the last quarter. Mackenzie Financial Corp grew its position in shares of Plug Power by 10.6% during the third quarter. Mackenzie Financial Corp now owns 58,098 shares of the electronics maker’s stock worth $135,000 after buying an additional 5,584 shares in the last quarter. Finally, QRG Capital Management Inc. grew its position in shares of Plug Power by 31.8% during the second quarter. QRG Capital Management Inc. now owns 25,014 shares of the electronics maker’s stock worth $37,000 after buying an additional 6,039 shares in the last quarter. 43.48% of the stock is owned by institutional investors and hedge funds.

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.