Plug Power (NASDAQ:PLUG) Stock Price Up 10.6% – Should You Buy?

Shares of Plug Power, Inc. (NASDAQ:PLUG) were up 10.6% during mid-day trading on Thursday . The company traded as high as $2.53 and last traded at $2.4550. Approximately 71,368,522 shares were traded during trading, a decline of 27% from the average daily volume of 98,009,289 shares. The stock had previously closed at $2.22.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Canaccord Genuity Group set a $7.00 price objective on Plug Power in a report on Monday, November 24th. Hsbc Global Res raised shares of Plug Power to a “strong-buy” rating in a research report on Thursday, October 9th. Wall Street Zen downgraded shares of Plug Power from a “hold” rating to a “sell” rating in a report on Sunday, November 16th. Susquehanna reduced their price objective on shares of Plug Power from $3.50 to $2.50 and set a “neutral” rating for the company in a report on Monday, November 17th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Plug Power in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have assigned a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $2.73.

Plug Power Stock Up 16.7%

The company has a current ratio of 1.32, a quick ratio of 0.70 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $3.60 billion, a P/E ratio of -1.09 and a beta of 1.68. The stock’s 50-day simple moving average is $2.16 and its 200-day simple moving average is $2.18.

Plug Power (NASDAQ:PLUG) last announced its earnings results on Monday, November 10th. The electronics maker reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.01. The firm had revenue of $177.06 million for the quarter, compared to the consensus estimate of $185.41 million. Plug Power had a negative return on equity of 105.98% and a negative net margin of 313.69%. As a group, research analysts predict that Plug Power, Inc. will post -1.21 earnings per share for the current fiscal year.

Insider Buying and Selling at Plug Power

In related news, insider Jose Luis Crespo acquired 37,300 shares of the stock in a transaction on Monday, December 15th. The shares were acquired at an average price of $2.34 per share, with a total value of $87,282.00. Following the completion of the transaction, the insider owned 307,332 shares in the company, valued at approximately $719,156.88. The trade was a 13.81% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Benjamin Haycraft sold 40,000 shares of the stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $2.17, for a total transaction of $86,800.00. Following the transaction, the insider directly owned 333,809 shares of the company’s stock, valued at $724,365.53. This represents a 10.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 90,000 shares of company stock valued at $204,000. Insiders own 0.56% of the company’s stock.

Hedge Funds Weigh In On Plug Power

Several institutional investors and hedge funds have recently bought and sold shares of the company. Kovack Advisors Inc. bought a new stake in shares of Plug Power in the third quarter valued at $26,000. Yousif Capital Management LLC bought a new position in shares of Plug Power during the 3rd quarter worth $27,000. Prakash Investment Advisors LLC purchased a new stake in Plug Power in the 3rd quarter worth about $27,000. Prime Capital Investment Advisors LLC bought a new stake in Plug Power in the 3rd quarter valued at about $30,000. Finally, Oak Thistle LLC purchased a new stake in Plug Power during the third quarter valued at about $30,000. 43.48% of the stock is owned by institutional investors.

About Plug Power

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.