Plug Power (NASDAQ:PLUG) Shares Up 0.3% – What’s Next?

Plug Power Inc. (NASDAQ:PLUG)’s stock price shot up 0.3% on Thursday . The company traded as high as $1.70 and last traded at $1.69. 12,667,552 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 67,212,477 shares. The stock had previously closed at $1.68.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PLUG. Craig Hallum lowered their price target on Plug Power from $4.00 to $3.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. HC Wainwright reissued a “buy” rating and issued a $18.00 target price on shares of Plug Power in a report on Wednesday, November 13th. Piper Sandler decreased their price target on shares of Plug Power from $1.60 to $1.40 and set an “underweight” rating on the stock in a research note on Thursday, November 14th. Susquehanna raised their target price on Plug Power from $2.00 to $2.50 and gave the stock a “neutral” rating in a report on Thursday, January 16th. Finally, Wells Fargo & Company dropped their price objective on Plug Power from $3.00 to $2.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 14th. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Plug Power has an average rating of “Hold” and an average target price of $4.12.

Plug Power Price Performance

The stock has a market cap of $1.49 billion, a PE ratio of -0.76 and a beta of 1.79. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 2.08. The business has a 50 day moving average price of $2.16 and a two-hundred day moving average price of $2.12.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PLUG. Pacific Sage Partners LLC bought a new stake in Plug Power in the fourth quarter worth $25,000. Oppenheimer & Co. Inc. purchased a new stake in Plug Power in the fourth quarter worth $25,000. Jones Financial Companies Lllp lifted its position in Plug Power by 107.4% during the fourth quarter. Jones Financial Companies Lllp now owns 11,730 shares of the electronics maker’s stock valued at $25,000 after buying an additional 6,074 shares during the period. Callan Family Office LLC purchased a new position in Plug Power during the 4th quarter valued at about $27,000. Finally, Ground Swell Capital LLC bought a new stake in Plug Power during the fourth quarter worth about $27,000. 43.48% of the stock is currently owned by hedge funds and other institutional investors.

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.