Plug Power (NASDAQ:PLUG) Hits New 1-Year Low – Should You Sell?

Plug Power Inc. (NASDAQ:PLUG)’s share price hit a new 52-week low during trading on Tuesday . The company traded as low as $1.53 and last traded at $1.59, with a volume of 80253455 shares trading hands. The stock had previously closed at $1.66.

Analysts Set New Price Targets

Several research firms have weighed in on PLUG. Piper Sandler cut their price target 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 raised their target price on shares of Plug Power from $2.00 to $2.50 and gave the company a “neutral” rating in a report on Thursday, January 16th. Seaport Res Ptn cut shares of Plug Power from a “hold” rating to a “strong sell” rating in a research report on Monday, January 27th. HC Wainwright reiterated a “buy” rating and set a $18.00 price objective on shares of Plug Power in a research report on Wednesday, November 13th. Finally, StockNews.com raised shares of Plug Power to a “sell” rating in a research note on Monday, February 10th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $4.12.

Plug Power Price Performance

The company has a current ratio of 2.08, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $1.45 billion, a PE ratio of -0.74 and a beta of 1.79. The stock’s 50-day moving average is $2.19 and its two-hundred day moving average is $2.13.

Institutional Investors Weigh In On Plug Power

Several hedge funds and other institutional investors have recently modified their holdings of the business. Nations Financial Group Inc. IA ADV grew its position in Plug Power by 42.3% in 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 acquiring an additional 4,700 shares during the last quarter. Arkadios Wealth Advisors lifted its position in shares of Plug Power by 18.2% during the third quarter. Arkadios Wealth Advisors now owns 33,020 shares of the electronics maker’s stock worth $75,000 after purchasing an additional 5,075 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Plug Power by 53.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 15,410 shares of the electronics maker’s stock valued at $33,000 after purchasing an additional 5,348 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Plug Power by 0.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 803,881 shares of the electronics maker’s stock worth $1,817,000 after purchasing an additional 5,485 shares during the last quarter. Finally, Compagnie Lombard Odier SCmA increased its stake in Plug Power by 12.8% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 49,000 shares of the electronics maker’s stock worth $104,000 after buying an additional 5,550 shares during the period. 43.48% of the stock is currently owned by hedge funds and other institutional investors.

Plug Power Company Profile

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.