Plug Power (NASDAQ:PLUG) Stock Price Up 6% - Should You Buy?

Plug Power Inc. (NASDAQ:PLUG - Get Free Report) shares rose 6% on Thursday . The stock traded as high as $1.03 and last traded at $0.98. Approximately 86,496,962 shares changed hands during trading, an increase of 38% from the average daily volume of 62,483,991 shares. The stock had previously closed at $0.93.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Wall Street Zen raised Plug Power to a "sell" rating in a research report on Tuesday, May 13th. HC Wainwright restated a "buy" rating and issued a $3.00 target price on shares of Plug Power in a research note on Monday, March 24th. BMO Capital Markets lowered their price objective on Plug Power from $1.60 to $1.40 and set an "underperform" rating on the stock in a research note on Wednesday, March 5th. UBS Group cut their price target on shares of Plug Power from $2.50 to $1.75 and set a "neutral" rating for the company in a report on Friday, March 21st. Finally, Jefferies Financial Group reduced their price objective on Plug Power from $1.70 to $0.90 and set a "hold" rating on the stock in a research note on Tuesday, May 20th. Five analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $1.83.

Plug Power Stock Down 5.1%

The stock has a market cap of $947.54 million, a P/E ratio of -0.41 and a beta of 2.19. The firm has a 50 day simple moving average of $0.97 and a 200-day simple moving average of $1.68. The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15.

Plug Power (NASDAQ:PLUG - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The electronics maker reported ($0.21) EPS for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.01). The company had revenue of $133.67 million for the quarter, compared to the consensus estimate of $130.92 million. Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. On average, equities research analysts forecast that Plug Power Inc. will post -1.21 earnings per share for the current fiscal year.

Insider Buying and Selling at Plug Power

In other news, CFO Paul B. Middleton bought 350,000 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were bought at an average price of $0.72 per share, with a total value of $252,000.00. Following the completion of the transaction, the chief financial officer now owns 1,908,064 shares of the company's stock, valued at $1,373,806.08. This trade represents a 22.46% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.70% of the company's stock.

Institutional Trading of Plug Power

Institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its position in shares of Plug Power by 53.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 15,410 shares of the electronics maker's stock valued at $33,000 after acquiring an additional 5,348 shares during the period. Compagnie Lombard Odier SCmA boosted its holdings in Plug Power by 12.8% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 49,000 shares of the electronics maker's stock valued at $104,000 after purchasing an additional 5,550 shares during the period. 49 Wealth Management LLC boosted its holdings in Plug Power by 25.0% in the 4th quarter. 49 Wealth Management LLC now owns 29,180 shares of the electronics maker's stock valued at $62,000 after purchasing an additional 5,834 shares during the period. Jones Financial Companies Lllp grew its position in shares of Plug Power by 107.4% during the 4th quarter. Jones Financial Companies Lllp now owns 11,730 shares of the electronics maker's stock worth $25,000 after purchasing an additional 6,074 shares in the last quarter. Finally, Avantax Planning Partners Inc. increased its holdings in shares of Plug Power by 54.0% during the fourth quarter. Avantax Planning Partners Inc. now owns 18,722 shares of the electronics maker's stock worth $40,000 after purchasing an additional 6,561 shares during the period. 43.48% of the stock is currently owned by institutional investors.

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.