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

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

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Truist Financial dropped their price objective on shares of Plug Power from $2.00 to $1.50 and set a “hold” rating on the stock in a report on Wednesday, March 5th. Piper Sandler lowered their price target on shares of Plug Power from $1.40 to $1.10 and set an “underweight” rating on the stock in a report on Wednesday, March 5th. StockNews.com raised shares of Plug Power to a “sell” rating in a report on Tuesday, March 4th. Morgan Stanley lowered their price target on shares of Plug Power from $1.75 to $1.60 and set an “underweight” rating on the stock in a report on Thursday, March 6th. Finally, Susquehanna lowered their price target on shares of Plug Power from $2.50 to $1.80 and set a “neutral” rating on the stock in a report on Wednesday, March 5th. Six investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $2.34.

Plug Power Stock Performance

The firm has a fifty day moving average price of $1.99 and a 200 day moving average price of $2.08. 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 firm has a market cap of $1.54 billion, a PE ratio of -0.78 and a beta of 1.98.

Hedge Funds Weigh In On Plug Power

Several institutional investors have recently bought and sold shares of PLUG. Pacific Sage Partners LLC acquired a new position in Plug Power in the 4th quarter valued at about $25,000. Oppenheimer & Co. Inc. purchased a new position in shares of Plug Power in the 4th quarter valued at about $25,000. Jones Financial Companies Lllp boosted 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 buying an additional 6,074 shares during the period. Callan Family Office LLC purchased a new position in shares of Plug Power in the 4th quarter valued at about $27,000. Finally, Ground Swell Capital LLC purchased a new position in shares of Plug Power in the 4th quarter valued at about $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.