Plug Power Inc. (NASDAQ:PLUG - Get Free Report)'s share price fell 3.2% during trading on Tuesday . The stock traded as low as $1.22 and last traded at $1.21. 9,891,501 shares were traded during mid-day trading, a decline of 85% from the average session volume of 63,905,703 shares. The stock had previously closed at $1.25.
Wall Street Analyst Weigh In
Several research firms recently weighed in on PLUG. Piper Sandler reduced their target price on Plug Power from $1.40 to $1.10 and set an "underweight" rating on the stock in a research report on Wednesday, March 5th. UBS Group cut their price objective on shares of Plug Power from $2.50 to $1.75 and set a "neutral" rating on the stock in a report on Friday, March 21st. Canaccord Genuity Group lowered their target price on shares of Plug Power from $2.00 to $1.25 and set a "hold" rating for the company in a report 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 report on Wednesday, March 5th. Finally, B. Riley decreased their price target on shares of Plug Power from $4.00 to $3.00 and set a "buy" rating on the stock in a report on Wednesday, March 5th. Five analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $2.33.
Check Out Our Latest Report on Plug Power
Plug Power Stock Performance
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 stock has a fifty day simple moving average of $1.55 and a two-hundred day simple moving average of $1.99. The stock has a market cap of $1.05 billion, a PE ratio of -0.53 and a beta of 2.07.
Institutional Investors Weigh In On Plug Power
A number of large investors have recently added to or reduced their stakes in PLUG. Janus Henderson Group PLC boosted its position in Plug Power by 27.7% in the 3rd quarter. Janus Henderson Group PLC now owns 318,268 shares of the electronics maker's stock valued at $718,000 after buying an additional 68,968 shares during the last quarter. Stifel Financial Corp grew its stake in Plug Power by 23.4% during the 3rd quarter. Stifel Financial Corp now owns 1,398,398 shares of the electronics maker's stock valued at $3,160,000 after purchasing an additional 265,514 shares in the last quarter. Geode Capital Management LLC increased its holdings in Plug Power by 23.6% during the 3rd quarter. Geode Capital Management LLC now owns 19,194,629 shares of the electronics maker's stock worth $43,388,000 after purchasing an additional 3,662,456 shares during the last quarter. Arete Wealth Advisors LLC boosted its stake in shares of Plug Power by 575.8% during the 3rd quarter. Arete Wealth Advisors LLC now owns 147,117 shares of the electronics maker's stock valued at $332,000 after buying an additional 125,347 shares during the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in shares of Plug Power in the third quarter worth $206,000. 43.48% of the stock is owned by institutional investors and hedge funds.
About Plug Power
(
Get Free Report)
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.
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