Plug Power (NASDAQ:PLUG) Trading Up 0.3% – Still a Buy?

Plug Power Inc. (NASDAQ:PLUG)’s share price shot up 0.3% during mid-day trading on Thursday . The company traded as high as $1.70 and last traded at $1.69. 12,667,552 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 67,212,477 shares. The stock had previously closed at $1.68.

Wall Street Analyst Weigh In

PLUG has been the subject of several research analyst reports. Evercore ISI lowered their price objective on Plug Power from $5.00 to $4.00 and set an “outperform” rating for the company in a report on Wednesday, November 13th. Susquehanna increased their target price on shares of Plug Power from $2.00 to $2.50 and gave the stock a “neutral” rating in a report on Thursday, January 16th. 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. Wells Fargo & Company reduced their price objective on Plug Power from $3.00 to $2.00 and set an “equal weight” rating for the company in a research report on Thursday, November 14th. Finally, Seaport Res Ptn lowered Plug Power from a “hold” rating to a “strong sell” rating in a research report on Monday, January 27th. Five analysts have rated the stock with a sell rating, eight have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Plug Power has a consensus rating of “Hold” and a consensus target price of $4.12.

Plug Power Price Performance

The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15. The company has a 50 day moving average of $2.16 and a two-hundred day moving average of $2.12. The firm has a market cap of $1.49 billion, a P/E ratio of -0.76 and a beta of 1.79.

Institutional Trading of Plug Power

Several institutional investors and hedge funds have recently added to or reduced their stakes in PLUG. Pacific Sage Partners LLC acquired a new stake in shares of Plug Power during the 4th quarter valued at $25,000. Oppenheimer & Co. Inc. acquired a new stake in Plug Power during the 4th quarter worth about $25,000. Jones Financial Companies Lllp boosted its holdings in shares of Plug Power by 107.4% in the fourth quarter. Jones Financial Companies Lllp now owns 11,730 shares of the electronics maker’s stock worth $25,000 after buying an additional 6,074 shares during the period. Callan Family Office LLC acquired a new stake in shares of Plug Power during the fourth quarter valued at approximately $27,000. Finally, Ground Swell Capital LLC acquired a new stake in shares of Plug Power during the fourth quarter valued at approximately $27,000. 43.48% of the stock is owned by institutional investors and hedge funds.

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.