Brokerages Set Plug Power Inc. (NASDAQ:PLUG) Target Price at $2.31

Plug Power Inc. (NASDAQ:PLUG - Get Free Report) has been given an average recommendation of "Hold" by the eighteen ratings firms that are presently covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $2.31.

A number of equities research analysts recently weighed in on PLUG shares. StockNews.com upgraded shares of Plug Power to a "sell" rating in a report on Tuesday, March 4th. Susquehanna decreased their price target on shares of Plug Power from $2.50 to $1.80 and set a "neutral" rating for the company in a research note on Wednesday, March 5th. Morgan Stanley dropped their price objective on Plug Power from $1.75 to $1.60 and set an "underweight" rating on the stock in a research note on Thursday, March 6th. BMO Capital Markets decreased their target price on Plug Power from $1.60 to $1.40 and set an "underperform" rating for the company in a research report on Wednesday, March 5th. Finally, Piper Sandler lowered their target price on Plug Power from $1.40 to $1.10 and set an "underweight" rating for the company in a report on Wednesday, March 5th.

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Plug Power Trading Down 6.9 %

Plug Power stock traded down $0.10 during mid-day trading on Friday, hitting $1.34. The company's stock had a trading volume of 71,921,468 shares, compared to its average volume of 48,680,682. 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 50 day moving average of $1.74 and a 200-day moving average of $2.06. Plug Power has a one year low of $1.33 and a one year high of $4.90. The stock has a market cap of $1.24 billion, a PE ratio of -0.63 and a beta of 1.98.

Institutional Trading of Plug Power

Several hedge funds and other institutional investors have recently made changes to their positions in PLUG. 111 Capital acquired a new position in Plug Power during the 4th quarter valued at about $89,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Plug Power by 35.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 64,440 shares of the electronics maker's stock worth $137,000 after acquiring an additional 16,878 shares during the last quarter. Pinnacle Wealth Planning Services Inc. acquired a new position in shares of Plug Power during the fourth quarter valued at about $60,000. Toronto Dominion Bank purchased a new position in shares of Plug Power in the 4th quarter valued at approximately $270,000. Finally, Retirement Planning Group LLC NY acquired a new stake in Plug Power in the 4th quarter worth approximately $38,000. Hedge funds and other institutional investors own 43.48% of the company's stock.

About Plug Power

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.