Plug Power (NASDAQ:PLUG) Stock Price Up 4.4% – Should You Buy?

Plug Power, Inc. (NASDAQ:PLUG) rose 4.4% on Thursday . The stock traded as high as $2.39 and last traded at $2.36. Approximately 100,096,228 shares traded hands during trading, an increase of 3% from the average daily volume of 96,815,563 shares. The stock had previously closed at $2.26.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. HC Wainwright restated a “buy” rating and set a $7.00 price objective on shares of Plug Power in a research report on Monday, November 24th. Wall Street Zen downgraded Plug Power from a “hold” rating to a “sell” rating in a research note on Sunday, November 16th. Cowen reiterated a “buy” rating on shares of Plug Power in a research report on Wednesday, November 19th. Morgan Stanley reissued an “underweight” rating and set a $1.50 target price on shares of Plug Power in a report on Thursday, October 16th. Finally, HSBC set a $4.40 price target on shares of Plug Power in a research note on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, six have given a Hold rating and six have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $2.80.

Plug Power Stock Performance

The company’s 50-day moving average price is $2.68 and its two-hundred day moving average price is $1.96. The company has a market capitalization of $3.23 billion, a price-to-earnings ratio of -0.98 and a beta of 1.74. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.32 and a quick ratio of 0.70.

Plug Power (NASDAQ:PLUG) last issued its quarterly earnings results on Monday, November 10th. The electronics maker reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.01. Plug Power had a negative net margin of 313.69% and a negative return on equity of 105.98%. The business had revenue of $177.06 million for the quarter, compared to analysts’ expectations of $185.41 million. On average, equities research analysts anticipate that Plug Power, Inc. will post -1.21 EPS for the current fiscal year.

Insiders Place Their Bets

In other Plug Power news, insider Benjamin Haycraft sold 40,000 shares of the stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $2.20, for a total transaction of $88,000.00. Following the transaction, the insider directly owned 373,809 shares in the company, valued at approximately $822,379.80. This represents a 9.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 70,972 shares of company stock valued at $172,645 in the last ninety days. Insiders own 1.41% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Kovack Advisors Inc. acquired a new position in shares of Plug Power during the third quarter valued at about $26,000. Sender Co & Partners Inc. bought a new stake in Plug Power in the 2nd quarter valued at about $26,000. Yousif Capital Management LLC acquired a new position in Plug Power during the 3rd quarter worth approximately $27,000. Prakash Investment Advisors LLC acquired a new stake in Plug Power in the third quarter valued at approximately $27,000. Finally, O ROURKE & COMPANY Inc acquired a new stake in Plug Power in the second quarter valued at approximately $30,000. 43.48% of the stock is owned by institutional investors.

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.