Plug Power (NASDAQ:PLUG) Shares Up 4.3% – Here’s What Happened

Plug Power Inc. (NASDAQ:PLUG)’s stock price traded up 4.3% on Tuesday . The stock traded as high as $1.85 and last traded at $1.84. 28,161,895 shares changed hands during trading, a decline of 59% from the average session volume of 69,244,188 shares. The stock had previously closed at $1.76.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Seaport Res Ptn lowered shares of Plug Power from a “hold” rating to a “strong sell” rating in a research note on Monday, January 27th. Canaccord Genuity Group dropped their price target on shares of Plug Power from $2.50 to $2.25 and set a “hold” rating for the company in a research note on Wednesday, November 13th. Wells Fargo & Company reduced their price objective on shares of Plug Power from $3.00 to $2.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 14th. HC Wainwright reissued a “buy” rating and issued a $18.00 price objective on shares of Plug Power in a research note on Wednesday, November 13th. Finally, Craig Hallum cut their target price on Plug Power from $4.00 to $3.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $4.12.

Plug Power Trading Down 1.1 %

The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 2.08. The company has a market capitalization of $1.59 billion, a P/E ratio of -0.82 and a beta of 1.79. The company’s fifty day simple moving average is $2.22 and its 200-day simple moving average is $2.13.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Toronto Dominion Bank purchased a new position in Plug Power in the fourth quarter valued at about $270,000. Retirement Planning Group LLC NY bought a new stake in shares of Plug Power in the 4th quarter valued at about $38,000. GTS Securities LLC grew its position in shares of Plug Power by 150.0% in the 4th quarter. GTS Securities LLC now owns 18,750 shares of the electronics maker’s stock worth $40,000 after buying an additional 56,255 shares during the last quarter. 49 Wealth Management LLC raised its stake in shares of Plug Power by 25.0% during the 4th quarter. 49 Wealth Management LLC now owns 29,180 shares of the electronics maker’s stock worth $62,000 after acquiring an additional 5,834 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Plug Power by 19.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,309,399 shares of the electronics maker’s stock valued at $4,919,000 after acquiring an additional 379,723 shares during the last quarter. 43.48% of the stock is 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.