Plug Power (NASDAQ:PLUG) Stock Price Up 0.3% – Still a Buy?

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PLUG. BTIG Research cut shares of Plug Power from a “buy” rating to a “neutral” rating in a research report on Thursday, November 14th. Craig Hallum cut their price objective on shares of Plug Power from $4.00 to $3.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Seaport Res Ptn cut shares of Plug Power from a “hold” rating to a “strong sell” rating in a research report on Monday, January 27th. HC Wainwright reaffirmed a “buy” rating and set a $18.00 price objective on shares of Plug Power in a research report on Wednesday, November 13th. Finally, Evercore ISI cut their price objective on shares of Plug Power from $5.00 to $4.00 and set an “outperform” rating for the company in a research report on Wednesday, November 13th. Five research analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $4.12.

Plug Power Trading Down 1.2 %

The firm has a fifty day moving average of $2.13 and a two-hundred day moving average of $2.11. The company has a market cap of $1.47 billion, a PE ratio of -0.75 and a beta of 1.79. The company has a current ratio of 2.08, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15.

Institutional Investors Weigh In On Plug Power

Large investors have recently added to or reduced their stakes in the company. Pacific Sage Partners LLC purchased a new stake in Plug Power in the 4th quarter worth about $25,000. Oppenheimer & Co. Inc. purchased a new stake in Plug Power in the 4th quarter worth about $25,000. Jones Financial Companies Lllp increased its holdings in Plug Power by 107.4% in the 4th quarter. Jones Financial Companies Lllp now owns 11,730 shares of the electronics maker’s stock worth $25,000 after acquiring an additional 6,074 shares during the last quarter. Callan Family Office LLC bought a new position in Plug Power in the 4th quarter worth about $27,000. Finally, Ground Swell Capital LLC bought a new position in Plug Power in the 4th quarter worth about $27,000. Hedge funds and other 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.