Plug Power (NASDAQ:PLUG) Trading 3.5% Higher – Still a Buy?

Plug Power Inc. (NASDAQ:PLUG)’s stock price traded up 3.5% on Thursday . The stock traded as high as $1.94 and last traded at $1.92. 13,831,626 shares were traded during trading, a decline of 81% from the average session volume of 73,689,797 shares. The stock had previously closed at $1.85.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on PLUG shares. Susquehanna upped their target price on shares of Plug Power from $2.00 to $2.50 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. Seaport Res Ptn downgraded shares of Plug Power from a “hold” rating to a “strong sell” rating in a research report on Monday, January 27th. HC Wainwright reiterated a “buy” rating and issued a $18.00 price objective on shares of Plug Power in a research note on Wednesday, November 13th. Canaccord Genuity Group cut their target price on Plug Power from $2.50 to $2.25 and set a “hold” rating on the stock in a research note on Wednesday, November 13th. Finally, StockNews.com raised Plug Power to a “sell” rating in a research report on Wednesday, January 22nd. Five research analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Plug Power presently has an average rating of “Hold” and an average price target of $4.12.

Plug Power Trading Down 3.7 %

The company has a market cap of $1.68 billion, a P/E ratio of -0.86 and a beta of 1.79. The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15. The firm’s 50-day moving average price is $2.33 and its 200-day moving average price is $2.17.

Plug Power (NASDAQ:PLUG) last issued its 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). Plug Power had a negative net margin of 214.05% and a negative return on equity of 46.99%. The business had revenue of $173.70 million for the quarter, compared to the consensus estimate of $207.25 million. During the same period in the previous year, the firm earned ($0.47) EPS. The company’s revenue was down 12.6% compared to the same quarter last year. As a group, equities research analysts expect that Plug Power Inc. will post -1.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its holdings in Plug Power by 23.6% in the 3rd quarter. Geode Capital Management LLC now owns 19,194,629 shares of the electronics maker’s stock valued at $43,388,000 after purchasing an additional 3,662,456 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Plug Power by 25.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,637,039 shares of the electronics maker’s stock valued at $15,000,000 after buying an additional 1,354,500 shares during the period. Vontobel Holding Ltd. grew its position in Plug Power by 44.3% during the third quarter. Vontobel Holding Ltd. now owns 3,426,354 shares of the electronics maker’s stock worth $7,744,000 after buying an additional 1,051,400 shares in the last quarter. XTX Topco Ltd purchased a new position in Plug Power during the third quarter worth about $2,174,000. Finally, Van ECK Associates Corp increased its stake in Plug Power by 23.6% in the 3rd quarter. Van ECK Associates Corp now owns 4,232,001 shares of the electronics maker’s stock worth $8,803,000 after acquiring an additional 809,187 shares during the last quarter. 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.