Plug Power (NASDAQ:PLUG) Sets New 1-Year Low – Time to Sell?

Plug Power Inc. (NASDAQ:PLUG)’s stock price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $1.08 and last traded at $1.10, with a volume of 25775974 shares trading hands. The stock had previously closed at $1.21.

Analyst Ratings Changes

Several research firms have weighed in on PLUG. Susquehanna lowered their price target on Plug Power from $2.50 to $1.80 and set a “neutral” rating for the company in a report on Wednesday, March 5th. Canaccord Genuity Group lowered their price objective on shares of Plug Power from $2.00 to $1.25 and set a “hold” rating for the company in a research report on Wednesday, March 5th. Piper Sandler cut their target price on Plug Power from $1.40 to $1.10 and set an “underweight” rating on the stock in a research report on Wednesday, March 5th. B. Riley lowered their price target on Plug Power from $4.00 to $3.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. Finally, StockNews.com upgraded Plug Power to a “sell” rating in a report on Tuesday, March 4th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $2.33.

Plug Power Trading Down 7.9 %

The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15. The company’s fifty day moving average price is $1.58 and its two-hundred day moving average price is $2.01. The firm has a market cap of $1.03 billion, a PE ratio of -0.52 and a beta of 2.07.

Hedge Funds Weigh In On Plug Power

A number of large investors have recently modified their holdings of PLUG. Pacific Sage Partners LLC purchased a new stake in Plug Power during the fourth quarter worth about $25,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Plug Power during the 4th quarter worth approximately $25,000. Jones Financial Companies Lllp grew its holdings in shares of Plug Power by 107.4% in the 4th quarter. Jones Financial Companies Lllp now owns 11,730 shares of the electronics maker’s stock worth $25,000 after acquiring an additional 6,074 shares during the period. Callan Family Office LLC purchased a new position in Plug Power in the 4th quarter valued at approximately $27,000. Finally, Ground Swell Capital LLC purchased a new stake in Plug Power during the fourth quarter worth $27,000. 43.48% of the stock is owned by hedge funds and other 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.