Plug Power (NASDAQ:PLUG) Sees Large Volume Increase - Should You Buy?

Plug Power Inc. (NASDAQ:PLUG - Get Free Report) shares saw unusually-high trading volume on Tuesday . Approximately 45,728,277 shares were traded during mid-day trading, a decline of 13% from the previous session's volume of 52,698,244 shares.The stock last traded at $1.03 and had previously closed at $1.02.

Analyst Ratings Changes

Several analysts have commented on PLUG shares. Piper Sandler lowered their price target on Plug Power from $1.40 to $1.10 and set an "underweight" rating for the company in a report on Wednesday, March 5th. StockNews.com raised shares of Plug Power to a "sell" rating in a research report on Tuesday, March 4th. Susquehanna decreased their price target on shares of Plug Power from $1.80 to $1.25 and set a "neutral" rating on the stock in a report on Monday, April 14th. UBS Group dropped their price objective on Plug Power from $2.50 to $1.75 and set a "neutral" rating for the company in a report on Friday, March 21st. Finally, HC Wainwright reiterated a "buy" rating and issued a $3.00 target price on shares of Plug Power in a report on Monday, March 24th. Five equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $2.29.

Plug Power Stock Down 7.4 %

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 stock has a market capitalization of $874.29 million, a price-to-earnings ratio of -0.44 and a beta of 2.07. The firm's fifty day moving average is $1.36 and its 200-day moving average is $1.90.

Institutional Trading of Plug Power

Several hedge funds and other institutional investors have recently bought and sold shares of PLUG. Sanctuary Advisors LLC acquired a new stake in shares of Plug Power during the 3rd quarter valued at approximately $206,000. Kieckhefer Group LLC bought a new stake in shares of Plug Power during the 4th quarter valued at about $138,000. Arkadios Wealth Advisors raised its stake in Plug Power by 88.0% during the fourth quarter. Arkadios Wealth Advisors now owns 62,082 shares of the electronics maker's stock worth $132,000 after acquiring an additional 29,062 shares during the period. ACT Wealth Management LLC lifted its holdings in Plug Power by 71.4% in the fourth quarter. ACT Wealth Management LLC now owns 24,000 shares of the electronics maker's stock worth $51,000 after acquiring an additional 10,000 shares during the last quarter. Finally, Sustainable Insight Capital Management LLC acquired a new position in Plug Power in the fourth quarter valued at approximately $79,000. 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.

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