Plug Power (NASDAQ:PLUG) Sees Large Volume Increase - Still a Buy?

Key Points

• Plug Power experienced a significant increase in trading volume, with approximately 155 million shares traded, marking a 74% rise from the previous day.
• Several analysts have mixed views on Plug Power's stock, with ratings ranging from "strong sell" to "neutral," and a consensus price target of $2.19.
• The company reported a quarterly revenue of $173.97 million but missed earnings expectations, revealing a negative net margin and a debt-to-equity ratio of 0.22.

Plug Power, Inc. (NASDAQ:PLUG - Get Free Report) saw unusually-strong trading volume on Monday . Approximately 155,054,994 shares were traded during trading, an increase of 74% from the previous session's volume of 89,276,734 shares.The stock last traded at $3.98 and had previously closed at $3.81.

Wall Street Analyst Weigh In

PLUG has been the subject of several recent analyst reports. Evercore ISI upgraded Plug Power to a "strong sell" rating in a research note on Tuesday, July 15th. Wells Fargo & Company raised their price objective on Plug Power from $1.00 to $1.50 and gave the stock an "equal weight" rating in a report on Thursday, August 14th. 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. Weiss Ratings reiterated a "sell (d-)" rating on shares of Plug Power in a research report on Saturday, September 27th. Finally, Susquehanna boosted their price objective on Plug Power from $1.00 to $1.80 and gave the company a "neutral" rating in a research report on Monday, July 21st. Four investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and six have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus price target of $2.19.

Plug Power Stock Up 8.4%

The company has a debt-to-equity ratio of 0.22, a current ratio of 1.59 and a quick ratio of 0.82. The firm's 50-day moving average price is $1.81 and its 200 day moving average price is $1.39. The firm has a market capitalization of $4.77 billion, a price-to-earnings ratio of -1.79 and a beta of 2.23.

Plug Power (NASDAQ:PLUG - Get Free Report) last posted its earnings results on Monday, August 11th. The electronics maker reported ($0.16) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.01). The company had revenue of $173.97 million during the quarter, compared to analysts' expectations of $157.97 million. Plug Power had a negative net margin of 292.84% and a negative return on equity of 90.22%. Sell-side analysts expect that Plug Power, Inc. will post -1.21 EPS for the current year.

Institutional Trading of Plug Power

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Miracle Mile Advisors LLC acquired a new stake in Plug Power during the 1st quarter worth approximately $26,000. Sender Co & Partners Inc. acquired a new position in Plug Power during the 2nd quarter worth $26,000. Baader Bank Aktiengesellschaft bought a new stake in Plug Power in the first quarter valued at about $28,000. O ROURKE & COMPANY Inc bought a new position in Plug Power during the second quarter worth $30,000. Finally, Abel Hall LLC bought a new position in shares of Plug Power in the 2nd quarter worth about $30,000. 43.48% of the stock is currently 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.

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