Shares of Plug Power Inc. (NASDAQ:PLUG - Get Free Report) dropped 0.8% on Wednesday . The stock traded as low as $1.77 and last traded at $1.80. Approximately 12,222,145 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 68,593,539 shares. The stock had previously closed at $1.81.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on the stock. Wells Fargo & Company lowered their price objective on shares of Plug Power from $3.00 to $2.00 and set an "equal weight" rating for the company in a research note on Thursday, November 14th. Susquehanna increased their price objective on shares of Plug Power from $2.00 to $2.50 and gave the company a "neutral" rating in a research note on Thursday, January 16th. Seaport Res Ptn downgraded shares of Plug Power from a "hold" rating to a "strong sell" rating in a research note on Monday, January 27th. Piper Sandler lowered their target price on Plug Power from $1.60 to $1.40 and set an "underweight" rating for the company in a report on Thursday, November 14th. Finally, Evercore ISI reduced their price target on Plug Power from $5.00 to $4.00 and set an "outperform" rating for the company in a research report on Wednesday, November 13th. Five analysts have rated the stock with a sell rating, eight have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $4.12.
View Our Latest Analysis on PLUG
Plug Power Stock Down 5.1 %
The company has a debt-to-equity ratio of 0.15, a current ratio of 2.08 and a quick ratio of 0.95. The business's fifty day moving average price is $2.22 and its two-hundred day moving average price is $2.13. The stock has a market capitalization of $1.51 billion, a PE ratio of -0.78 and a beta of 1.79.
Institutional Investors Weigh In On Plug Power
Institutional investors and hedge funds have recently modified their holdings of the company. Toronto Dominion Bank purchased a new position in Plug Power during the 4th quarter worth approximately $270,000. Retirement Planning Group LLC NY purchased a new position in shares of Plug Power during the fourth quarter worth $38,000. GTS Securities LLC lifted its position in Plug Power by 150.0% during the fourth quarter. GTS Securities LLC now owns 18,750 shares of the electronics maker's stock valued at $40,000 after purchasing an additional 56,255 shares during the period. 49 Wealth Management LLC boosted its holdings in Plug Power by 25.0% in the fourth quarter. 49 Wealth Management LLC now owns 29,180 shares of the electronics maker's stock valued at $62,000 after purchasing an additional 5,834 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Plug Power by 19.7% during the 4th 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 worth $4,919,000 after purchasing an additional 379,723 shares during the period. Institutional investors and hedge funds own 43.48% of the company's stock.
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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