Plug Power (NASDAQ:PLUG) Trading Down 0.9% - What's Next?

Plug Power Inc. (NASDAQ:PLUG - Get Free Report) dropped 0.9% on Friday . The stock traded as low as $1.71 and last traded at $1.75. Approximately 15,516,986 shares were traded during trading, a decline of 78% from the average daily volume of 69,951,430 shares. The stock had previously closed at $1.76.

Analyst Ratings Changes

PLUG has been the subject of several research reports. Piper Sandler reduced their price objective on Plug Power from $1.60 to $1.40 and set an "underweight" rating for the company in a report on Thursday, November 14th. Susquehanna increased their target price on Plug Power from $2.00 to $2.50 and gave the stock a "neutral" rating in a research report on Thursday, January 16th. StockNews.com upgraded Plug Power to a "sell" rating in a research report on Monday, February 10th. BTIG Research downgraded Plug Power from a "buy" rating to a "neutral" rating in a research report on Thursday, November 14th. Finally, Canaccord Genuity Group dropped their target price on Plug Power from $2.50 to $2.25 and set a "hold" rating on the stock in a research report on Wednesday, November 13th. Five research analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $4.12.

Plug Power Price Performance

The stock has a 50 day moving average price of $2.28 and a 200-day moving average price of $2.14. The stock has a market capitalization of $1.60 billion, a P/E ratio of -0.82 and a beta of 1.79. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.08 and a quick ratio of 0.95.

Institutional Trading of Plug Power

Several large investors have recently modified their holdings of PLUG. Creative Planning grew its stake in shares of Plug Power by 35.9% in the third quarter. Creative Planning now owns 115,614 shares of the electronics maker's stock worth $261,000 after purchasing an additional 30,552 shares during the last quarter. Prio Wealth Limited Partnership bought a new stake in shares of Plug Power in the third quarter worth about $29,000. Krane Funds Advisors LLC grew its stake in shares of Plug Power by 8.6% in the third quarter. Krane Funds Advisors LLC now owns 436,616 shares of the electronics maker's stock worth $987,000 after purchasing an additional 34,673 shares during the last quarter. Signaturefd LLC boosted its position in Plug Power by 119.3% during the 3rd quarter. Signaturefd LLC now owns 19,028 shares of the electronics maker's stock valued at $43,000 after acquiring an additional 10,352 shares in the last quarter. Finally, Eastern Bank bought a new stake in Plug Power during the 3rd quarter valued at approximately $53,000. 43.48% of the stock is 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.