Plug Power (NASDAQ:PLUG) Stock Price Up 1.5% – Still a Buy?

Shares of Plug Power Inc. (NASDAQ:PLUG) rose 1.5% during mid-day trading on Friday . The stock traded as high as $1.69 and last traded at $1.68. Approximately 16,699,878 shares traded hands during trading, a decline of 75% from the average daily volume of 67,272,703 shares. The stock had previously closed at $1.65.

Analyst Ratings Changes

PLUG has been the subject of several analyst reports. Truist Financial dropped their price target on shares of Plug Power from $2.00 to $1.50 and set a “hold” rating for the company in a research note on Wednesday, March 5th. B. Riley dropped their price target on shares of Plug Power from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. HC Wainwright dropped their price target on shares of Plug Power from $5.00 to $3.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. BMO Capital Markets dropped their price target on shares of Plug Power from $1.60 to $1.40 and set an “underperform” rating for the company in a research note on Wednesday, March 5th. Finally, Seaport Res Ptn downgraded shares of Plug Power from a “hold” rating to a “strong sell” rating in a research note on Monday, January 27th. Six analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $2.34.

Plug Power Stock Performance

The company has a current ratio of 2.08, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. The company’s 50 day moving average is $1.99 and its 200-day moving average is $2.08. The company has a market capitalization of $1.54 billion, a P/E ratio of -0.78 and a beta of 1.98.

Institutional Trading of Plug Power

Institutional investors and hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its stake in shares of Plug Power by 25.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,637,039 shares of the electronics maker’s stock worth $15,000,000 after acquiring an additional 1,354,500 shares during the period. XTX Topco Ltd bought a new stake in shares of Plug Power in the third quarter worth approximately $2,174,000. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Plug Power by 24.5% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,421,222 shares of the electronics maker’s stock worth $5,472,000 after acquiring an additional 476,060 shares during the period. Stifel Financial Corp grew its stake in shares of Plug Power by 23.4% in the third quarter. Stifel Financial Corp now owns 1,398,398 shares of the electronics maker’s stock worth $3,160,000 after acquiring an additional 265,514 shares during the period. Finally, MetLife Investment Management LLC grew its stake in shares of Plug Power by 166.4% in the third quarter. MetLife Investment Management LLC now owns 424,297 shares of the electronics maker’s stock worth $959,000 after acquiring an additional 265,042 shares during the period. 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.