Plug Power (NASDAQ:PLUG) Shares Up 14.2% – Still a Buy?

Plug Power, Inc. (NASDAQ:PLUG)’s stock price was up 14.2% during trading on Thursday . The stock traded as high as $3.88 and last traded at $3.78. Approximately 111,307,432 shares were traded during trading, an increase of 25% from the average daily volume of 89,119,766 shares. The stock had previously closed at $3.31.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PLUG. Wells Fargo & Company lifted their price target on Plug Power from $2.00 to $2.50 and gave the stock an “equal weight” rating in a research note on Tuesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Plug Power in a research note on Tuesday, April 21st. Susquehanna increased their target price on shares of Plug Power from $2.75 to $3.75 and gave the company a “neutral” rating in a research report on Wednesday, May 13th. Jefferies Financial Group lowered their price target on shares of Plug Power from $2.00 to $1.80 and set a “hold” rating on the stock in a research report on Monday, March 9th. Finally, Canaccord Genuity Group increased their price objective on shares of Plug Power from $2.50 to $4.00 and gave the company a “hold” rating in a report on Tuesday, May 12th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $3.42.

Plug Power Stock Up 14.2%

The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.40 and a current ratio of 2.36. The business has a 50 day simple moving average of $2.81 and a 200-day simple moving average of $2.40. The firm has a market capitalization of $5.27 billion, a price-to-earnings ratio of -2.86 and a beta of 2.06.

Plug Power (NASDAQ:PLUG) last announced its quarterly earnings results on Monday, May 11th. The electronics maker reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.01. Plug Power had a negative net margin of 227.13% and a negative return on equity of 49.30%. The firm had revenue of $163.51 million for the quarter, compared to analysts’ expectations of $139.87 million. During the same quarter in the previous year, the company posted ($0.21) EPS. The company’s revenue was up 22.3% compared to the same quarter last year. On average, equities analysts expect that Plug Power, Inc. will post -0.26 EPS for the current year.

Institutional Trading of Plug Power

Several institutional investors have recently made changes to their positions in PLUG. Kovack Advisors Inc. acquired a new position in Plug Power in the third quarter valued at approximately $26,000. Towarzystwo Funduszy Inwestycyjnych PZU SA increased its stake in Plug Power by 116.7% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 13,000 shares of the electronics maker’s stock worth $26,000 after acquiring an additional 7,000 shares during the last quarter. Sender Co & Partners Inc. purchased a new stake in Plug Power in the second quarter valued at $26,000. Prakash Investment Advisors LLC purchased a new stake in Plug Power in the third quarter valued at $27,000. Finally, Procyon Advisors LLC acquired a new position in shares of Plug Power in the 4th quarter valued at $29,000. Hedge funds and other institutional investors own 43.48% of the company’s stock.

Plug Power Company Profile

Plug Power Inc is a U.S.-based company specializing in the design and manufacture of hydrogen fuel cell systems that serve as clean energy replacements for conventional batteries in electric vehicles and material handling equipment. Its core solutions include ProGen fuel cell engines, GenDrive power systems for forklifts and warehouse vehicles, and GenFuel hydrogen refueling infrastructure. These offerings are sold as standalone components or integrated turnkey solutions under the GenKey brand, providing customers with on-site refueling, equipment installation and maintenance services.

In addition to its fuel cell and refueling products, Plug Power develops backup power and off-grid energy solutions through its GenSure line, which targets telecommunications, data centers and utility applications.