Plug Power (NASDAQ:PLUG) Stock Price Up 2.6% - Should You Buy?

Key Points

• Plug Power's stock rose by 2.6% during mid-day trading, with the latest trading price at $2.33, after previously closing at $2.27.
• Recent analyst ratings show a range of opinions on Plug Power, with BMO Capital Markets setting a target price of $1.00 and Susquehanna increasing their target to $1.80, resulting in an average rating of "Reduce".
• The company reported a revenue of $173.97 million for the last quarter but missed earnings estimates, indicating a negative net margin of 292.84% and a projected earnings per share of -1.21 for the current year.

Plug Power, Inc. (NASDAQ:PLUG - Get Free Report)'s share price rose 2.6% during mid-day trading on Tuesday . The stock traded as high as $2.38 and last traded at $2.33. Approximately 69,804,601 shares were traded during mid-day trading, a decline of 19% from the average daily volume of 86,248,680 shares. The stock had previously closed at $2.27.

Analyst Upgrades and Downgrades

PLUG has been the topic of several recent analyst reports. BMO Capital Markets cut their target price on shares of Plug Power from $1.10 to $1.00 and set an "underperform" rating on the stock in a report on Tuesday, August 12th. Susquehanna lifted their price target on shares of Plug Power from $1.00 to $1.80 and gave the company a "neutral" rating in a report on Monday, July 21st. Evercore ISI upgraded shares of Plug Power to a "strong sell" rating in a report on Tuesday, July 15th. Jefferies Financial Group lifted their price target on shares of Plug Power from $0.90 to $1.60 and gave the company a "hold" rating in a report on Wednesday, July 23rd. Finally, Wells Fargo & Company lifted their price target on shares of Plug Power from $1.00 to $1.50 and gave the company an "equal weight" rating in a report on Thursday, August 14th. Four analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Reduce" and an average price target of $1.88.

Plug Power Trading Up 2.6%

The stock has a market cap of $2.69 billion, a P/E ratio of -1.01 and a beta of 2.09. The company has a current ratio of 1.59, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22. The stock's fifty day moving average price is $1.71 and its 200 day moving average price is $1.35.

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

Hedge Funds Weigh In On Plug Power

Large investors have recently modified their holdings of the stock. Miracle Mile Advisors LLC purchased a new position in shares of Plug Power in the 1st quarter worth about $26,000. Sender Co & Partners Inc. purchased a new position in shares of Plug Power in the 2nd quarter worth about $26,000. Baader Bank Aktiengesellschaft purchased a new position in shares of Plug Power in the 1st quarter worth about $28,000. O ROURKE & COMPANY Inc purchased a new position in shares of Plug Power in the 2nd quarter worth about $30,000. Finally, Abel Hall LLC purchased a new position in shares of Plug Power in the 2nd quarter worth about $30,000. Hedge funds and other 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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