Plug Power (NASDAQ:PLUG) Trading 0.9% Higher – Should You Buy?

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PLUG shares. Wells Fargo & Company reduced their target price on shares of Plug Power from $3.00 to $2.00 and set an “equal weight” rating for the company in a research note on Thursday, November 14th. Seaport Res Ptn cut Plug Power from a “hold” rating to a “strong sell” rating in a research report on Monday, January 27th. BTIG Research lowered shares of Plug Power from a “buy” rating to a “neutral” rating in a report on Thursday, November 14th. Evercore ISI reduced their price objective on shares of Plug Power from $5.00 to $4.00 and set an “outperform” rating for the company in a report on Wednesday, November 13th. Finally, StockNews.com raised shares of Plug Power to a “sell” rating in a research note on Tuesday, March 4th. Six analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Plug Power currently has an average rating of “Hold” and an average target price of $2.34.

Plug Power Stock Up 0.3 %

The business’s 50-day moving average is $2.03 and its two-hundred day moving average is $2.09. The firm has a market capitalization of $1.55 billion, a price-to-earnings 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.

Hedge Funds Weigh In On Plug Power

Hedge funds and other institutional investors have recently made changes to their positions in the company. Pinnacle Wealth Planning Services Inc. bought a new position in Plug Power during the fourth quarter worth about $60,000. Toronto Dominion Bank bought a new position in shares of Plug Power during the 4th quarter valued at about $270,000. Retirement Planning Group LLC NY acquired a new position in shares of Plug Power in the 4th quarter valued at approximately $38,000. GTS Securities LLC increased its stake in Plug Power by 150.0% during the 4th quarter. GTS Securities LLC now owns 18,750 shares of the electronics maker’s stock worth $40,000 after purchasing an additional 56,255 shares in the last quarter. Finally, 49 Wealth Management LLC lifted its stake in Plug Power by 25.0% in the fourth quarter. 49 Wealth Management LLC now owns 29,180 shares of the electronics maker’s stock valued at $62,000 after buying an additional 5,834 shares in the last quarter. 43.48% of the stock is owned by 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.