Plug Power (NASDAQ:PLUG) Trading 34.6% Higher - Still a Buy?

Key Points

• Plug Power's stock surged 34.6% in trading, rising from a previous close of $2.83 to as high as $3.95, with an impressive volume increase of 455% compared to average trading volume.
• Despite the recent price jump, analysts have mixed ratings for Plug Power, with four "Buy" ratings, seven "Hold" ratings, and six "Sell" ratings, resulting in an average consensus target price of $2.19.
• The company reported a revenue of $173.97 million for the last quarter, exceeding expectations, but had a negative earnings per share of ($0.16), slightly missing analysts' estimates.

Plug Power, Inc. (NASDAQ:PLUG - Get Free Report) traded up 34.6% during trading on Friday . The company traded as high as $3.95 and last traded at $3.81. 495,301,229 shares were traded during trading, an increase of 455% from the average session volume of 89,303,484 shares. The stock had previously closed at $2.83.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Plug Power in a research note on Saturday, September 27th. Wells Fargo & Company raised their price objective on shares of Plug Power from $1.00 to $1.50 and gave the company an "equal weight" rating in a research note on Thursday, August 14th. BMO Capital Markets lowered their price objective on shares of Plug Power from $1.10 to $1.00 and set an "underperform" rating on the stock in a research note on Tuesday, August 12th. Evercore ISI raised shares of Plug Power to a "strong sell" rating in a research note on Tuesday, July 15th. Finally, Susquehanna lifted their price objective on shares of Plug Power from $1.00 to $1.80 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Four analysts have rated the stock with a Buy rating, seven have issued a Hold rating and six have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Reduce" and a consensus target price of $2.19.

Plug Power Price Performance

The stock's 50-day moving average is $1.81 and its 200 day moving average is $1.39. The stock has a market capitalization of $4.40 billion, a PE ratio of -1.65 and a beta of 2.23. The company has a quick ratio of 0.82, a current ratio of 1.59 and a debt-to-equity ratio of 0.22.

Plug Power (NASDAQ:PLUG - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $173.97 million for the quarter, compared to analysts' expectations of $157.97 million. As a group, equities analysts predict that Plug Power, Inc. will post -1.21 earnings per share for the current year.

Institutional Trading of Plug Power

Institutional investors have recently added to or reduced their stakes in the business. Miracle Mile Advisors LLC acquired a new stake in Plug Power in the first quarter valued at approximately $26,000. Sender Co & Partners Inc. acquired a new stake in Plug Power in the second quarter valued at approximately $26,000. Baader Bank Aktiengesellschaft acquired a new stake in Plug Power in the first quarter valued at approximately $28,000. O ROURKE & COMPANY Inc acquired a new stake in Plug Power in the second quarter valued at approximately $30,000. Finally, Abel Hall LLC acquired a new stake in Plug Power in the second quarter valued at approximately $30,000. 43.48% of the stock is currently owned by institutional investors and hedge funds.

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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