Plug Power (NASDAQ:PLUG) Trading Up 5.6% – What’s Next?

Plug Power, Inc. (NASDAQ:PLUG)’s stock price rose 5.6% on Friday . The company traded as high as $2.70 and last traded at $2.65. Approximately 115,990,192 shares changed hands during trading, an increase of 22% from the average daily volume of 94,819,055 shares. The stock had previously closed at $2.51.

Analyst Ratings Changes

Several analysts recently commented on the stock. HSBC set a $4.40 price objective on shares of Plug Power in a research note on Thursday, October 9th. Evercore ISI upgraded Plug Power to a “strong sell” rating in a report on Tuesday, July 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Plug Power in a report on Wednesday, October 8th. Hsbc Global Res raised Plug Power to a “strong-buy” rating in a report on Thursday, October 9th. Finally, HC Wainwright raised their price target on Plug Power from $3.00 to $7.00 and gave the company a “buy” rating in a research report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have assigned a Hold rating and six have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Plug Power presently has a consensus rating of “Hold” and a consensus price target of $2.54.

Plug Power Trading Up 5.6%

The business has a 50-day moving average of $2.61 and a 200 day moving average of $1.74. The stock has a market cap of $3.06 billion, a PE ratio of -1.15 and a beta of 2.28. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 1.59.

Plug Power (NASDAQ:PLUG) last released its earnings results 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). The firm had revenue of $173.97 million during the quarter, compared to analysts’ expectations of $157.97 million. Plug Power had a negative net margin of 292.84% and a negative return on equity of 90.22%. Equities research analysts predict that Plug Power, Inc. will post -1.21 EPS for the current fiscal year.

Institutional Trading of Plug Power

A number of hedge funds have recently added to or reduced their stakes in PLUG. Yousif Capital Management LLC purchased a new stake in Plug Power in the 3rd quarter valued at about $27,000. Prime Capital Investment Advisors LLC acquired a new stake in shares of Plug Power in the third quarter worth approximately $30,000. Oak Thistle LLC purchased a new stake in Plug Power in the third quarter valued at approximately $30,000. Simplicity Wealth LLC acquired a new position in Plug Power during the third quarter worth approximately $32,000. Finally, Bouvel Investment Partners LLC acquired a new position in Plug Power during the third quarter worth approximately $35,000. 43.48% of the stock is 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.