Plug Power (NASDAQ:PLUG) Trading 3.5% Higher – Should You Buy?

Plug Power Inc. (NASDAQ:PLUG) shares shot up 3.5% on Monday . The company traded as high as $1.94 and last traded at $1.93. 22,064,294 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 76,036,719 shares. The stock had previously closed at $1.86.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PLUG shares. StockNews.com upgraded shares of Plug Power to a “sell” rating in a research report on Wednesday, January 22nd. Wells Fargo & Company reduced 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 report on Thursday, November 14th. Canaccord Genuity Group reduced their target price on shares of Plug Power from $2.50 to $2.25 and set a “hold” rating on the stock in a research report on Wednesday, November 13th. Craig Hallum cut their price target 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, Seaport Res Ptn downgraded Plug Power from a “hold” rating to a “strong sell” rating in a research note on Monday, January 27th. Five analysts have rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $4.18.

Plug Power Price Performance

The stock has a market cap of $1.74 billion, a PE ratio of -0.89 and a beta of 1.79. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 2.08. The business has a 50 day moving average price of $2.36 and a two-hundred day moving average price of $2.19.

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

Hedge Funds Weigh In On Plug Power

Hedge funds and other institutional investors have recently made changes to their positions in the business. Pacific Sage Partners LLC bought a new position in shares of Plug Power in the 4th quarter worth approximately $25,000. Prio Wealth Limited Partnership purchased a new stake in Plug Power in the third quarter worth $29,000. Catalyst Capital Advisors LLC raised its holdings in Plug Power by 79.9% in the third quarter. Catalyst Capital Advisors LLC now owns 12,681 shares of the electronics maker’s stock worth $29,000 after purchasing an additional 5,631 shares in the last quarter. Millburn Ridgefield Corp lifted its position in Plug Power by 79.9% during the third quarter. Millburn Ridgefield Corp now owns 12,681 shares of the electronics maker’s stock valued at $29,000 after buying an additional 5,631 shares during the period. Finally, First Commonwealth Financial Corp PA bought a new stake in shares of Plug Power during the 3rd quarter valued at $29,000. Institutional investors own 43.48% of the company’s stock.

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.