Plug Power (NASDAQ:PLUG) Trading Up 0.9% – Time to Buy?

Plug Power Inc. (NASDAQ:PLUG)’s share price shot up 0.9% during mid-day trading on Wednesday . The company traded as high as $1.77 and last traded at $1.69. 22,471,563 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 67,490,922 shares. The stock had previously closed at $1.67.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PLUG. Morgan Stanley reduced their target price on shares of Plug Power from $1.75 to $1.60 and set an “underweight” rating for the company in a research report on Thursday, March 6th. BMO Capital Markets reduced their price objective on shares of Plug Power from $1.60 to $1.40 and set an “underperform” rating on the stock in a research note on Wednesday, March 5th. B. Riley reduced their price objective on shares of Plug Power from $4.00 to $3.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. Susquehanna reduced their price objective on shares of Plug Power from $2.50 to $1.80 and set a “neutral” rating on the stock in a research note on Wednesday, March 5th. Finally, StockNews.com upgraded shares of Plug Power to a “sell” rating in a research note on Tuesday, March 4th. Six research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Plug Power presently has an average rating of “Hold” and an average target price of $2.34.

Plug Power Trading Up 2.1 %

The business’s fifty day moving average is $2.02 and its 200-day moving average is $2.09. The firm has a market cap of $1.56 billion, a P/E ratio of -0.78 and a beta of 1.98. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 2.08.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Oppenheimer & Co. Inc. bought a new position in Plug Power in the 4th quarter valued at approximately $25,000. Pacific Sage Partners LLC bought a new position in Plug Power during the 4th quarter worth approximately $25,000. Jones Financial Companies Lllp raised its holdings in Plug Power by 107.4% during the 4th quarter. Jones Financial Companies Lllp now owns 11,730 shares of the electronics maker’s stock worth $25,000 after purchasing an additional 6,074 shares during the last quarter. Callan Family Office LLC bought a new position in Plug Power during the 4th quarter worth approximately $27,000. Finally, Ground Swell Capital LLC bought a new position in Plug Power during the 4th quarter worth approximately $27,000. Institutional investors own 43.48% of the company’s stock.

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.