Plug Power (NASDAQ:PLUG) Shares Up 1.5% - Should You Buy?

Plug Power Inc. (NASDAQ:PLUG - Get Free Report)'s share price rose 1.5% on Wednesday . The company traded as high as $1.68 and last traded at $1.65. Approximately 26,807,690 shares traded hands during trading, a decline of 62% from the average daily volume of 71,424,367 shares. The stock had previously closed at $1.62.

Analysts Set New Price Targets

Several research firms recently commented on PLUG. Seaport Res Ptn cut Plug Power from a "hold" rating to a "strong sell" rating in a research report on Monday, January 27th. Craig Hallum lowered their target price on Plug Power from $4.00 to $3.00 and set a "buy" rating on the stock in a research report on Thursday, November 14th. BTIG Research cut Plug Power from a "buy" rating to a "neutral" rating in a research report on Thursday, November 14th. Susquehanna raised their target price on Plug Power from $2.00 to $2.50 and gave the company a "neutral" rating in a research report on Thursday, January 16th. Finally, Wells Fargo & Company lowered their target price on 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. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $4.12.

Plug Power Stock Performance

The firm 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 quick ratio of 0.95 and a current ratio of 2.08. The firm has a 50 day moving average price of $2.26 and a two-hundred day moving average price of $2.14.

Institutional Investors Weigh In On Plug Power

Large investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. boosted its stake in shares of Plug Power by 25.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,637,039 shares of the electronics maker's stock worth $15,000,000 after acquiring an additional 1,354,500 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Plug Power during the 3rd quarter worth $2,174,000. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Plug Power by 24.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,421,222 shares of the electronics maker's stock worth $5,472,000 after acquiring an additional 476,060 shares in the last quarter. Stifel Financial Corp boosted its stake in shares of Plug Power by 23.4% during the 3rd quarter. Stifel Financial Corp now owns 1,398,398 shares of the electronics maker's stock worth $3,160,000 after acquiring an additional 265,514 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its stake in shares of Plug Power by 166.4% during the 3rd quarter. MetLife Investment Management LLC now owns 424,297 shares of the electronics maker's stock worth $959,000 after acquiring an additional 265,042 shares in the last quarter. 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.