Plug Power (NASDAQ:PLUG) Stock Price Up 4.3% – What’s Next?

Plug Power Inc. (NASDAQ:PLUG)’s share price was up 4.3% on Tuesday . The stock traded as high as $1.85 and last traded at $1.84. Approximately 28,161,895 shares were traded during mid-day trading, a decline of 59% from the average daily volume of 69,244,188 shares. The stock had previously closed at $1.76.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on PLUG shares. BTIG Research downgraded shares of Plug Power from a “buy” rating to a “neutral” rating in a research report on Thursday, November 14th. Susquehanna lifted their target price on shares of Plug Power from $2.00 to $2.50 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. Piper Sandler dropped their target price on shares of Plug Power from $1.60 to $1.40 and set an “underweight” rating on the stock in a research report on Thursday, November 14th. Craig Hallum lowered 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 report on Thursday, November 14th. Finally, 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. Five analysts have rated the stock with a sell rating, eight have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $4.12.

Plug Power Price Performance

The company has a debt-to-equity ratio of 0.15, a current ratio of 2.08 and a quick ratio of 0.95. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of -0.85 and a beta of 1.79. The stock’s 50 day simple moving average is $2.25 and its 200-day simple moving average is $2.14.

Institutional Trading of Plug Power

Several large investors have recently modified their holdings of the company. Oppenheimer & Co. Inc. bought a new stake in Plug Power in the 4th quarter valued at $25,000. Pacific Sage Partners LLC bought a new stake in Plug Power in the 4th quarter valued at $25,000. Jones Financial Companies Lllp boosted 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 valued at $25,000 after purchasing an additional 6,074 shares during the period. Callan Family Office LLC bought a new stake in Plug Power in the 4th quarter valued at $27,000. Finally, Ground Swell Capital LLC bought a new stake in Plug Power in the 4th quarter valued at $27,000. 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.