Plug Power (NASDAQ:PLUG) Shares Up 2.4% - Should You Buy?

Key Points

• Shares rose 2.4% to about $2.14 mid-day on heavy trading (156.0M shares, +62% vs. average), giving Plug Power a market cap of roughly $2.47 billion.
• Analyst sentiment is mixed with a MarketBeat average rating of “Hold” and an average target of $2.42, though some firms raised targets (HC Wainwright to $7) while others remain negative.
• Recent quarter showed an EPS beat (‑$0.12 vs. ‑$0.13 estimate) but revenue missed ($177.1M) and the company remains deeply unprofitable (net margin ≈ ‑292.8%), with sell‑side consensus expecting about ‑1.21 EPS for the year.

Plug Power, Inc. (NASDAQ:PLUG - Get Free Report)'s share price was up 2.4% during mid-day trading on Tuesday . The company traded as high as $2.29 and last traded at $2.14. Approximately 156,043,543 shares traded hands during mid-day trading, an increase of 62% from the average daily volume of 96,140,344 shares. The stock had previously closed at $2.09.

Analysts Set New Price Targets

PLUG has been the subject of a number of recent research reports. Canaccord Genuity Group upped their price target on Plug Power from $1.25 to $2.50 and gave the stock a "hold" rating in a research report on Tuesday, November 11th. HC Wainwright increased their target price on shares of Plug Power from $3.00 to $7.00 and gave the stock a "buy" rating in a report on Friday, October 3rd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Plug Power in a research report on Wednesday, October 8th. Hsbc Global Res upgraded shares of Plug Power to a "strong-buy" rating in a research note on Thursday, October 9th. Finally, Susquehanna reduced their price objective on shares of Plug Power from $3.50 to $2.50 and set a "neutral" rating for the company in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, six have issued a Hold rating and six have given a Sell rating to the company's stock. Based on data from MarketBeat, Plug Power has an average rating of "Hold" and an average target price of $2.42.

Plug Power Price Performance

The stock has a market capitalization of $2.47 billion, a P/E ratio of -0.93 and a beta of 2.28. 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 company's 50-day simple moving average is $2.73 and its 200-day simple moving average is $1.81.

Plug Power (NASDAQ:PLUG - Get Free Report) last announced its quarterly earnings data on Monday, November 10th. The electronics maker reported ($0.12) EPS for the quarter, beating analysts' consensus estimates of ($0.13) by $0.01. The company had revenue of $177.06 million during the quarter, compared to the consensus estimate of $185.41 million. Plug Power had a negative net margin of 292.84% and a negative return on equity of 90.22%. Plug Power has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Plug Power, Inc. will post -1.21 EPS for the current fiscal year.

Insiders Place Their Bets

In other Plug Power news, EVP Benjamin Haycraft sold 10,000 shares of the company's stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $2.92, for a total value of $29,200.00. Following the sale, the executive vice president owned 467,583 shares in the company, valued at $1,365,342.36. This represents a 2.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.41% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Plug Power

A number of large investors have recently added to or reduced their stakes in the business. Kovack Advisors Inc. acquired a new position in shares of Plug Power in the third quarter valued at $26,000. Yousif Capital Management LLC acquired a new stake in shares of Plug Power during the 3rd quarter worth about $27,000. Prakash Investment Advisors LLC bought a new stake in shares of Plug Power during the 3rd quarter worth about $27,000. Prime Capital Investment Advisors LLC acquired a new position in Plug Power in the 3rd quarter valued at about $30,000. Finally, Oak Thistle LLC bought a new position in Plug Power in the 3rd quarter valued at about $30,000. 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.

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