Plug Power (NASDAQ:PLUG) Shares Up 3.9% – What’s Next?

Shares of Plug Power Inc. (NASDAQ:PLUG) were up 3.9% on Thursday . The stock traded as high as $1.64 and last traded at $1.64. Approximately 14,653,940 shares changed hands during trading, a decline of 69% from the average daily volume of 47,357,710 shares. The stock had previously closed at $1.58.

Wall Street Analysts Forecast Growth

PLUG has been the subject of several recent research reports. BMO Capital Markets reduced their price objective on Plug Power from $1.60 to $1.40 and set an “underperform” rating for the company in a research note on Wednesday, March 5th. B. Riley reduced their price objective on Plug Power from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. Piper Sandler reduced their price objective on Plug Power from $1.40 to $1.10 and set an “underweight” rating for the company in a research note on Wednesday, March 5th. HC Wainwright reduced their price objective on Plug Power from $5.00 to $3.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. Finally, StockNews.com raised Plug Power to a “sell” rating in a research note on Tuesday, March 4th. Six equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $2.31.

Plug Power Stock Down 3.8 %

The firm has a market cap of $1.42 billion, a price-to-earnings ratio of -0.71 and a beta of 1.98. The firm has a 50-day moving average price of $1.86 and a two-hundred day moving average price of $2.07. 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

Institutional investors have recently added to or reduced their stakes in the company. Pacific Sage Partners LLC purchased a new position in shares of Plug Power in the 4th quarter valued at approximately $25,000. Oppenheimer & Co. Inc. purchased a new position in shares of Plug Power in the 4th quarter valued at approximately $25,000. Jones Financial Companies Lllp grew its stake in shares of 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 last quarter. Callan Family Office LLC purchased a new stake in shares of Plug Power in the fourth quarter valued at approximately $27,000. Finally, Ground Swell Capital LLC acquired a new position in Plug Power during the fourth quarter worth $27,000. Institutional investors and hedge funds 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.