Plug Power (PLUG) Sees Large Volume Increase

Plug Power Inc (NASDAQ:PLUG) shares saw unusually-strong trading volume on Wednesday . Approximately 10,142,141 shares traded hands during trading, an increase of 179% from the previous session’s volume of 3,635,164 shares.The stock last traded at $1.99 and had previously closed at $1.77.

Several research analysts recently issued reports on PLUG shares. BidaskClub downgraded shares of Plug Power from a “sell” rating to a “strong sell” rating in a research report on Wednesday, January 10th. Zacks Investment Research cut Plug Power from a “hold” rating to a “sell” rating in a report on Tuesday, November 14th. B. Riley reissued a “buy” rating and set a $3.50 price objective on shares of Plug Power in a report on Thursday, December 7th. Canaccord Genuity began coverage on Plug Power in a report on Friday, December 1st. They set a “buy” rating and a $5.00 price objective for the company. Finally, ValuEngine cut Plug Power from a “hold” rating to a “sell” rating in a report on Monday, December 4th. Four investment analysts have rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company’s stock. Plug Power has a consensus rating of “Hold” and an average price target of $3.28.

The firm has a market cap of $429.52, a price-to-earnings ratio of -3.08 and a beta of 1.52. The company has a quick ratio of 0.86, a current ratio of 1.29 and a debt-to-equity ratio of 0.62.

A number of large investors have recently made changes to their positions in PLUG. MetLife Investment Advisors LLC bought a new stake in Plug Power during the 4th quarter worth about $127,000. Teacher Retirement System of Texas raised its holdings in Plug Power by 315.6% during the 4th quarter. Teacher Retirement System of Texas now owns 75,409 shares of the electronics maker’s stock worth $178,000 after purchasing an additional 57,263 shares during the last quarter. Virtu KCG Holdings LLC raised its holdings in Plug Power by 126.4% during the 2nd quarter. Virtu KCG Holdings LLC now owns 92,497 shares of the electronics maker’s stock worth $189,000 after purchasing an additional 51,638 shares during the last quarter. Voya Investment Management LLC increased its stake in shares of Plug Power by 23.2% in the 2nd quarter. Voya Investment Management LLC now owns 105,772 shares of the electronics maker’s stock valued at $216,000 after acquiring an additional 19,904 shares during the last quarter. Finally, Nationwide Fund Advisors increased its stake in shares of Plug Power by 8.4% in the 2nd quarter. Nationwide Fund Advisors now owns 127,090 shares of the electronics maker’s stock valued at $259,000 after acquiring an additional 9,865 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

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About Plug Power

Plug Power Inc is a provider of alternative energy technology focused on the design, development, commercialization and manufacture of hydrogen fuel cell systems used for the industrial off-road market and the stationary power market. The Company’s product line includes GenKey, GenDrive, GenFuel, GenCare and ReliOn.

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