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

Shares of Plug Power Inc. (NASDAQ:PLUG) rose 4.3% on Tuesday . The stock traded as high as $1.85 and last traded at $1.84. Approximately 28,161,895 shares traded hands during 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

PLUG has been the subject of several recent analyst reports. StockNews.com raised shares of Plug Power to a “sell” rating in a report on Monday, February 10th. Evercore ISI decreased 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. Seaport Res Ptn lowered shares of Plug Power from a “hold” rating to a “strong sell” rating in a report on Monday, January 27th. Piper Sandler decreased their price target on shares of Plug Power from $1.60 to $1.40 and set an “underweight” rating for the company in a report on Thursday, November 14th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $18.00 price target on shares of Plug Power in a report on Wednesday, November 13th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Plug Power currently has an average rating of “Hold” and a consensus target price of $4.12.

Plug Power Stock Performance

The stock has a market capitalization of $1.65 billion, a P/E ratio of -0.85 and a beta of 1.79. The company’s 50-day moving average is $2.25 and its two-hundred day moving average is $2.14. 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 Trading of Plug Power

A number of hedge funds and other institutional investors have recently made changes to their positions in PLUG. Creative Planning raised its position in shares of Plug Power by 35.9% during the 3rd quarter. Creative Planning now owns 115,614 shares of the electronics maker’s stock worth $261,000 after buying an additional 30,552 shares in the last quarter. Prio Wealth Limited Partnership bought a new stake in shares of Plug Power during the 3rd quarter worth about $29,000. Krane Funds Advisors LLC raised its position in shares of Plug Power by 8.6% during the 3rd quarter. Krane Funds Advisors LLC now owns 436,616 shares of the electronics maker’s stock worth $987,000 after buying an additional 34,673 shares in the last quarter. Signaturefd LLC raised its position in shares of Plug Power by 119.3% during the 3rd quarter. Signaturefd LLC now owns 19,028 shares of the electronics maker’s stock worth $43,000 after buying an additional 10,352 shares in the last quarter. Finally, Eastern Bank bought a new stake in shares of Plug Power during the 3rd quarter worth about $53,000. 43.48% of the stock is currently 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.