Plug Power (NASDAQ:PLUG) Shares Up 4.8% – Should You Buy?

Plug Power, Inc. (NASDAQ:PLUG) rose 4.8% on Friday . The stock traded as high as $1.99 and last traded at $1.98. Approximately 109,423,132 shares traded hands during mid-day trading, an increase of 13% from the average daily volume of 96,896,672 shares. The stock had previously closed at $1.89.

Analysts Set New Price Targets

A number of brokerages have issued reports on PLUG. Wells Fargo & Company raised their price objective on shares of Plug Power from $1.00 to $1.50 and gave the company an “equal weight” rating in a research note on Thursday, August 14th. HC Wainwright increased their price target on Plug Power from $3.00 to $7.00 and gave the company a “buy” rating in a research note on Friday, October 3rd. Hsbc Global Res upgraded Plug Power to a “strong-buy” rating in a research report on Thursday, October 9th. Susquehanna decreased their price objective on Plug Power from $3.50 to $2.50 and set a “neutral” rating for the company in a research note on Monday. Finally, Cowen reissued a “buy” rating on shares of Plug Power in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, six have assigned a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $2.42.

Plug Power Stock Up 4.8%

The company has a current ratio of 1.59, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22. The firm’s fifty day moving average price is $2.76 and its 200-day moving average price is $1.82. The company has a market cap of $2.29 billion, a price-to-earnings ratio of -0.86 and a beta of 2.28.

Plug Power (NASDAQ:PLUG) last posted its earnings results on Monday, November 10th. The electronics maker reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.01. Plug Power had a negative return on equity of 90.22% and a negative net margin of 292.84%.The firm had revenue of $177.06 million for the quarter, compared to analyst estimates of $185.41 million. Plug Power has set its FY 2025 guidance at EPS. Sell-side analysts predict that Plug Power, Inc. will post -1.21 earnings per share for the current year.

Insider Activity

In related news, EVP Benjamin Haycraft sold 10,000 shares of the stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $2.92, for a total transaction of $29,200.00. Following the completion of the sale, the executive vice president directly owned 467,583 shares of the company’s stock, valued at approximately $1,365,342.36. This represents a 2.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.41% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PLUG. Vanguard Group Inc. increased its position in shares of Plug Power by 7.6% during the third quarter. Vanguard Group Inc. now owns 109,631,956 shares of the electronics maker’s stock worth $255,442,000 after acquiring an additional 7,789,039 shares in the last quarter. Geode Capital Management LLC boosted its stake in Plug Power by 14.9% in the 2nd quarter. Geode Capital Management LLC now owns 24,071,904 shares of the electronics maker’s stock worth $35,872,000 after purchasing an additional 3,125,542 shares during the period. Heights Capital Management Inc. bought a new position in Plug Power during the 1st quarter worth about $31,174,000. Legal & General Group Plc raised its stake in shares of Plug Power by 4.2% in the 3rd quarter. Legal & General Group Plc now owns 17,695,077 shares of the electronics maker’s stock valued at $41,230,000 after purchasing an additional 714,212 shares during the period. Finally, Two Sigma Investments LP lifted its holdings in shares of Plug Power by 292.1% in the third quarter. Two Sigma Investments LP now owns 10,830,893 shares of the electronics maker’s stock valued at $25,236,000 after purchasing an additional 8,068,713 shares in the last quarter. 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.