Plug Power (NASDAQ:PLUG) Trading 13.9% Higher – Should You Buy?

Plug Power Inc. (NASDAQ:PLUG) shot up 13.9% on Monday . The stock traded as high as $2.40 and last traded at $2.38. 36,865,395 shares were traded during trading, a decline of 7% from the average session volume of 39,472,930 shares. The stock had previously closed at $2.09.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Susquehanna dropped their price objective on Plug Power from $3.00 to $2.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Wells Fargo & Company dropped their price objective on Plug Power from $4.00 to $3.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. Truist Financial dropped their price objective on Plug Power from $3.00 to $2.00 and set a “hold” rating on the stock in a report on Monday, August 12th. Craig Hallum dropped their price objective on Plug Power from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, Piper Sandler dropped their price objective on Plug Power from $2.50 to $2.40 and set an “underweight” rating on the stock in a report on Monday, July 22nd. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Plug Power currently has an average rating of “Hold” and a consensus target price of $5.01.

Plug Power Stock Performance

The firm has a market capitalization of $2.16 billion, a PE ratio of -1.01 and a beta of 1.81. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.07 and a quick ratio of 0.91. The stock has a 50-day moving average price of $2.03 and a 200-day moving average price of $2.43.

Plug Power (NASDAQ:PLUG) last announced its quarterly earnings data on Thursday, August 8th. The electronics maker reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.06). The firm had revenue of $143.40 million during the quarter, compared to the consensus estimate of $184.54 million. Plug Power had a negative net margin of 216.80% and a negative return on equity of 47.51%. The firm’s quarterly revenue was down 44.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.35) earnings per share. On average, research analysts expect that Plug Power Inc. will post -1.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Sigma Planning Corp boosted its stake in Plug Power by 26.4% during the third quarter. Sigma Planning Corp now owns 42,367 shares of the electronics maker’s stock valued at $96,000 after buying an additional 8,837 shares in the last quarter. Harvest Portfolios Group Inc. boosted its stake in Plug Power by 26.0% during the third quarter. Harvest Portfolios Group Inc. now owns 159,550 shares of the electronics maker’s stock valued at $361,000 after buying an additional 32,964 shares in the last quarter. MinichMacGregor Wealth Management LLC boosted its stake in Plug Power by 32.4% during the third quarter. MinichMacGregor Wealth Management LLC now owns 35,603 shares of the electronics maker’s stock valued at $80,000 after buying an additional 8,711 shares in the last quarter. Amalgamated Bank boosted its stake in Plug Power by 36.6% during the third quarter. Amalgamated Bank now owns 25,444 shares of the electronics maker’s stock valued at $58,000 after buying an additional 6,822 shares in the last quarter. Finally, United Advisor Group LLC bought a new position in Plug Power during the third quarter valued at about $223,000. Institutional investors own 43.48% of the company’s stock.

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.