Plug Power (NASDAQ:PLUG) Shares Up 11.6% - What's Next?

Plug Power, Inc. (NASDAQ:PLUG - Get Free Report) traded up 11.6% during mid-day trading on Monday . The company traded as high as $1.40 and last traded at $1.30. 72,202,303 shares were traded during trading, a decline of 21% from the average session volume of 91,177,086 shares. The stock had previously closed at $1.16.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Roth Capital restated a "buy" rating on shares of Plug Power in a research report on Tuesday, May 13th. Wall Street Zen upgraded Plug Power to a "sell" rating in a research note on Tuesday, May 13th. B. Riley lowered their price objective on Plug Power from $4.00 to $3.00 and set a "buy" rating on the stock in a research report on Wednesday, March 5th. Jefferies Financial Group reduced their target price on shares of Plug Power from $1.70 to $0.90 and set a "hold" rating for the company in a research report on Tuesday, May 20th. Finally, Canaccord Genuity Group lowered their price target on shares of Plug Power from $1.25 to $1.00 and set a "hold" rating on the stock in a research report on Tuesday, May 13th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $1.83.

Plug Power Stock Down 0.7%

The company has a quick ratio of 1.07, a current ratio of 1.95 and a debt-to-equity ratio of 0.27. The firm has a 50 day moving average of $0.97 and a two-hundred day moving average of $1.53. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of -0.57 and a beta of 2.29.

Plug Power (NASDAQ:PLUG - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The electronics maker reported ($0.21) earnings per share for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.01). The company had revenue of $133.67 million during the quarter, compared to analyst estimates of $130.92 million. Plug Power had a negative net margin of 312.29% and a negative return on equity of 82.21%. As a group, sell-side analysts anticipate that Plug Power, Inc. will post -1.21 EPS for the current fiscal year.

Insider Activity

In other news, insider Paul B. Middleton purchased 650,000 shares of the company's stock in a transaction dated Monday, June 9th. The stock was bought at an average cost of $1.03 per share, for a total transaction of $669,500.00. Following the purchase, the insider owned 2,558,064 shares of the company's stock, valued at approximately $2,634,805.92. The trade was a 34.07% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.41% of the company's stock.

Hedge Funds Weigh In On Plug Power

Institutional investors and hedge funds have recently bought and sold shares of the company. Jones Financial Companies Lllp boosted its stake in shares of Plug Power by 107.4% during the fourth quarter. Jones Financial Companies Lllp now owns 11,730 shares of the electronics maker's stock valued at $25,000 after purchasing an additional 6,074 shares in the last quarter. Oppenheimer & Co. Inc. bought a new position in Plug Power in the 4th quarter valued at approximately $25,000. Miracle Mile Advisors LLC acquired a new stake in Plug Power during the 1st quarter worth approximately $26,000. Callan Family Office LLC bought a new stake in Plug Power during the 4th quarter worth approximately $27,000. Finally, Ground Swell Capital LLC bought a new stake in Plug Power during the 4th quarter worth approximately $27,000. Institutional investors and hedge funds 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.