Plug Power (NASDAQ:PLUG) Trading Up 3.3% - Still a Buy?

Key Points

• Plug Power's stock increased by 3.3%, reaching a last traded price of $3.78, with a volume surge of 78% compared to its average session volume.
• Analysts have varying opinions on Plug Power, with price targets ranging from $1.60 to $7.00 depending on the institution, reflecting a mix of buy, hold, and sell ratings.
• The company reported a quarterly earnings miss, showing a loss of ($0.16) per share, but exceeded revenue expectations at $173.97 million.

Shares of Plug Power, Inc. (NASDAQ:PLUG - Get Free Report) shot up 3.3% on Thursday . The stock traded as high as $3.81 and last traded at $3.78. 164,317,728 shares traded hands during trading, an increase of 78% from the average session volume of 92,172,352 shares. The stock had previously closed at $3.66.

Analyst Ratings Changes

PLUG has been the subject of several recent research reports. HC Wainwright upped their price target on shares of Plug Power from $3.00 to $7.00 and gave the stock a "buy" rating in a research report on Friday, October 3rd. Jefferies Financial Group upped their price objective on shares of Plug Power from $0.90 to $1.60 and gave the company a "hold" rating in a research note on Wednesday, July 23rd. HSBC set a $4.40 price objective on shares of Plug Power in a research note on Thursday. Evercore ISI raised shares of Plug Power to a "strong sell" rating in a research report on Tuesday, July 15th. Finally, Susquehanna increased their price objective on Plug Power from $1.00 to $1.80 and gave the stock a "neutral" rating in a report on Monday, July 21st. Five equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and six have given a Sell rating to the company's stock. According to data from MarketBeat, Plug Power presently has a consensus rating of "Reduce" and a consensus price target of $2.35.

Plug Power Stock Performance

The company has a market capitalization of $4.37 billion, a P/E ratio of -1.64 and a beta of 2.23. The stock has a fifty day simple moving average of $1.99 and a 200-day simple moving average of $1.45. 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 issued its quarterly earnings data on Monday, August 11th. The electronics maker reported ($0.16) earnings per share (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 the consensus estimate of $157.97 million. Equities analysts forecast that Plug Power, Inc. will post -1.21 EPS for the current year.

Hedge Funds Weigh In On Plug Power

Several institutional investors have recently modified their holdings of PLUG. Wealth Enhancement Advisory Services LLC grew its position in shares of Plug Power by 35.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 64,440 shares of the electronics maker's stock worth $137,000 after buying an additional 16,878 shares during the period. Miracle Mile Advisors LLC acquired a new position in shares of Plug Power in the 1st quarter valued at approximately $26,000. SG Americas Securities LLC grew its position in shares of Plug Power by 110.6% in the 1st quarter. SG Americas Securities LLC now owns 2,615,819 shares of the electronics maker's stock valued at $3,531,000 after purchasing an additional 1,373,486 shares during the period. Bellecapital International Ltd. acquired a new position in shares of Plug Power in the 1st quarter valued at approximately $128,000. Finally, Compagnie Lombard Odier SCmA grew its position in shares of Plug Power by 183.7% in the 1st quarter. Compagnie Lombard Odier SCmA now owns 139,000 shares of the electronics maker's stock valued at $188,000 after purchasing an additional 90,000 shares during the period. 43.48% of the stock is currently owned by institutional investors and hedge funds.

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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