Plug Power (NASDAQ:PLUG) Trading Down 3.7% - What's Next?

Plug Power Inc. (NASDAQ:PLUG - Get Free Report) traded down 3.7% during mid-day trading on Friday . The company traded as low as $1.68 and last traded at $1.69. 27,854,584 shares traded hands during trading, a decline of 59% from the average session volume of 67,468,906 shares. The stock had previously closed at $1.75.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. StockNews.com upgraded shares of Plug Power to a "sell" rating in a research note on Monday, February 10th. BTIG Research cut shares of Plug Power from a "buy" rating to a "neutral" rating in a research note on Thursday, November 14th. Wells Fargo & Company lowered their price target 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. Susquehanna raised their price target on shares of Plug Power from $2.00 to $2.50 and gave the stock a "neutral" rating in a research report on Thursday, January 16th. Finally, Evercore ISI lowered their price target on shares of Plug Power from $5.00 to $4.00 and set an "outperform" rating on the stock in a research report on Wednesday, November 13th. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $4.12.

Plug Power Stock 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's 50-day moving average is $2.20 and its two-hundred day moving average is $2.13. The company has a market capitalization of $1.51 billion, a P/E ratio of -0.78 and a beta of 1.79.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PLUG. Oppenheimer & Co. Inc. purchased a new stake in Plug Power in the fourth quarter worth $25,000. Pacific Sage Partners LLC purchased a new position in Plug Power in the fourth quarter worth about $25,000. Jones Financial Companies Lllp boosted its position in 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 purchasing an additional 6,074 shares during the last quarter. Callan Family Office LLC purchased a new position in shares of Plug Power during the 4th quarter valued at about $27,000. Finally, Ground Swell Capital LLC purchased a new position in Plug Power in the 4th quarter worth approximately $27,000. 43.48% of the stock is currently owned by institutional investors.

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.