Plug Power (NASDAQ:PLUG) Stock Price Up 8.8% - What's Next?

Plug Power Inc. (NASDAQ:PLUG - Get Free Report)'s stock price was up 8.8% during mid-day trading on Friday . The company traded as high as $1.81 and last traded at $1.80. Approximately 60,934,874 shares changed hands during trading, a decline of 11% from the average daily volume of 68,103,344 shares. The stock had previously closed at $1.65.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PLUG shares. Morgan Stanley cut their price objective on Plug Power from $1.75 to $1.60 and set an "underweight" rating for the company in a research note on Thursday. BTIG Research downgraded Plug Power from a "buy" rating to a "neutral" rating in a research note on Thursday, November 14th. HC Wainwright cut their price objective on Plug Power from $5.00 to $3.00 and set a "buy" rating for the company in a research note on Wednesday. Canaccord Genuity Group cut their price objective on Plug Power from $2.00 to $1.25 and set a "hold" rating for the company in a research note on Wednesday. Finally, Seaport Res Ptn downgraded Plug Power from a "hold" rating to a "strong sell" rating in a research note on Monday, January 27th. Six equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Plug Power currently has a consensus rating of "Hold" and an average target price of $2.34.

Plug Power Stock Up 7.9 %

The firm has a market capitalization of $1.65 billion, a PE ratio of -0.83 and a beta of 1.98. The company has a fifty day moving average price of $2.05 and a 200-day moving average price of $2.10. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 2.08.

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Institutional Trading of Plug Power

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Nations Financial Group Inc. IA ADV raised its holdings in Plug Power by 42.3% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 15,798 shares of the electronics maker's stock valued at $36,000 after buying an additional 4,700 shares during the period. PNC Financial Services Group Inc. raised its holdings in Plug Power by 53.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 15,410 shares of the electronics maker's stock valued at $33,000 after buying an additional 5,348 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Plug Power by 0.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 803,881 shares of the electronics maker's stock valued at $1,817,000 after buying an additional 5,485 shares during the period. Compagnie Lombard Odier SCmA raised its holdings in Plug Power by 12.8% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 49,000 shares of the electronics maker's stock valued at $104,000 after buying an additional 5,550 shares during the period. Finally, Millburn Ridgefield Corp raised its holdings in Plug Power by 79.9% during the 3rd quarter. Millburn Ridgefield Corp now owns 12,681 shares of the electronics maker's stock valued at $29,000 after buying an additional 5,631 shares during the period. 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.