Plug Power (NASDAQ:PLUG) Stock Price Up 3.8% Following Analyst Upgrade

Key Points

• Plug Power's stock rose by 3.8% after Susquehanna upgraded its price target from $1.80 to $3.50, currently holding a neutral rating.
• Analyst ratings vary, with one strong buy, five buys, seven holds, and six sells; the consensus target price is set at $2.47.
• Plug Power reported a quarterly loss of ($0.16) EPS, missing estimates but exceeding revenue expectations with $173.97 million for the quarter.

Plug Power, Inc. (NASDAQ:PLUG - Get Free Report) shares traded up 3.8% during mid-day trading on Tuesday after Susquehanna raised their price target on the stock from $1.80 to $3.50. Susquehanna currently has a neutral rating on the stock. Plug Power traded as high as $4.18 and last traded at $4.05. 196,809,534 shares were traded during trading, an increase of 110% from the average session volume of 93,613,570 shares. The stock had previously closed at $3.90.

Several other analysts also recently issued reports on PLUG. HSBC set a $4.40 target price on Plug Power in a research note on Thursday. Wells Fargo & Company lifted their target price on Plug Power from $1.00 to $1.50 and gave the company an "equal weight" rating in a research note on Thursday, August 14th. Jefferies Financial Group lifted their target price on Plug Power from $0.90 to $1.60 and gave the company a "hold" rating in a research note on Wednesday, July 23rd. Hsbc Global Res raised Plug Power to a "strong-buy" rating in a research note on Thursday, October 9th. Finally, HC Wainwright lifted their target price on Plug Power from $3.00 to $7.00 and gave the company a "buy" rating in a research note on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have given a Hold rating and six have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $2.47.

Institutional Trading of Plug Power

A number of large investors have recently added to or reduced their stakes in the company. Yousif Capital Management LLC bought a new stake in Plug Power in the 3rd quarter worth approximately $27,000. Farther Finance Advisors LLC lifted its position in Plug Power by 261.8% in the third quarter. Farther Finance Advisors LLC now owns 49,567 shares of the electronics maker's stock worth $115,000 after buying an additional 35,867 shares during the last quarter. Congress Park Capital LLC boosted its stake in Plug Power by 40.4% during the third quarter. Congress Park Capital LLC now owns 83,350 shares of the electronics maker's stock worth $194,000 after buying an additional 24,000 shares during the period. Oak Thistle LLC purchased a new position in Plug Power during the third quarter worth $30,000. Finally, Silverlake Wealth Management LLC purchased a new position in Plug Power during the second quarter worth $50,000. Institutional investors own 43.48% of the company's stock.

Plug Power Price Performance

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 firm's 50 day simple moving average is $2.08 and its 200 day simple moving average is $1.48. The company has a market capitalization of $4.68 billion, a PE ratio of -1.75 and a beta of 2.23.

Plug Power (NASDAQ:PLUG - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The electronics maker reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The firm had revenue of $173.97 million for the quarter, compared to analysts' expectations of $157.97 million. Plug Power had a negative return on equity of 90.22% and a negative net margin of 292.84%. As a group, research analysts anticipate that Plug Power, Inc. will post -1.21 EPS for the current fiscal year.

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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