Plug Power (NASDAQ:PLUG) Sets New 52-Week High - Should You Buy?

Key Points

• Plug Power shares reached a new 52-week high of $3.62, closing at $3.39, with a significant trading volume of approximately 140 million shares.
• Analysts are divided on the stock, with ratings ranging from "strong sell" to "buy," leading to a consensus rating of "Reduce" and an average price target of $2.19.
• The company reported negative earnings of ($0.16) per share for the last quarter, while revenue exceeded expectations at $173.97 million.

Plug Power, Inc. (NASDAQ:PLUG - Get Free Report)'s share price hit a new 52-week high during trading on Friday . The company traded as high as $3.62 and last traded at $3.39, with a volume of 139611008 shares. The stock had previously closed at $2.83.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Evercore ISI raised Plug Power to a "strong sell" rating in a report on Tuesday, July 15th. HC Wainwright lifted their price objective on Plug Power from $3.00 to $7.00 and gave the company a "buy" rating in a research report on Friday. BMO Capital Markets reduced their target price on shares of 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 restated a "sell (d-)" rating on shares of Plug Power in a research note on Saturday, September 27th. Finally, Wells Fargo & Company upped their price target on shares of Plug Power from $1.00 to $1.50 and gave the stock an "equal weight" rating in a research report on Thursday, August 14th. Four equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Reduce" and an average price target of $2.19.

Plug Power Trading Up 35.4%

The company has a quick ratio of 0.82, a current ratio of 1.59 and a debt-to-equity ratio of 0.22. The stock's 50 day moving average is $1.77 and its 200-day moving average is $1.37. The company has a market cap of $4.43 billion, a PE ratio of -1.66 and a beta of 2.23.

Plug Power (NASDAQ:PLUG - Get Free Report) last released its quarterly earnings results on Monday, August 11th. The electronics maker reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The company had revenue of $173.97 million for 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%. As a group, sell-side analysts anticipate that Plug Power, Inc. will post -1.21 EPS for the current year.

Institutional Investors Weigh In On Plug Power

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Sender Co & Partners Inc. bought a new stake in shares of Plug Power in the second quarter valued at about $26,000. Miracle Mile Advisors LLC bought a new stake in shares of Plug Power in the 1st quarter valued at about $26,000. O ROURKE & COMPANY Inc purchased a new stake in shares of Plug Power in the 2nd quarter worth approximately $30,000. Obermeyer Wealth Partners lifted its position in shares of Plug Power by 100.0% in the 2nd quarter. Obermeyer Wealth Partners now owns 20,000 shares of the electronics maker's stock worth $30,000 after purchasing an additional 10,000 shares during the period. Finally, Abel Hall LLC bought a new position in shares of Plug Power during the second quarter valued at approximately $30,000. 43.48% of the stock is owned by institutional investors.

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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