Plug Power (NASDAQ:PLUG) Trading Down 0.8% – Should You Sell?

Plug Power Inc. (NASDAQ:PLUG)’s share price fell 0.8% on Wednesday . The stock traded as low as $1.77 and last traded at $1.80. 12,222,145 shares changed hands during trading, a decline of 82% from the average session volume of 68,593,539 shares. The stock had previously closed at $1.81.

Analysts Set New Price Targets

PLUG has been the subject of several recent research reports. Evercore ISI cut their price target on Plug Power from $5.00 to $4.00 and set an “outperform” rating for the company in a report on Wednesday, November 13th. HC Wainwright restated a “buy” rating and issued a $18.00 target price on shares of Plug Power in a report on Wednesday, November 13th. Wells Fargo & Company lowered their price target on shares of 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. Canaccord Genuity Group cut their price objective on shares of Plug Power from $2.50 to $2.25 and set a “hold” rating for the company in a research report on Wednesday, November 13th. Finally, StockNews.com upgraded shares of Plug Power to a “sell” rating in a report on Monday, February 10th. Five analysts have rated the stock with a sell rating, eight have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $4.12.

Plug Power Stock Down 5.1 %

The stock has a market cap of $1.51 billion, a price-to-earnings ratio of -0.78 and a beta of 1.79. 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 business’s fifty day moving average is $2.22 and its two-hundred day moving average is $2.13.

Institutional Trading of Plug Power

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Plug Power by 5.4% in the fourth quarter. Vanguard Group Inc. now owns 87,438,503 shares of the electronics maker’s stock valued at $186,244,000 after purchasing an additional 4,491,114 shares during the period. Norges Bank acquired a new stake in Plug Power in the 4th quarter valued at about $146,465,000. Geode Capital Management LLC boosted its stake in shares of Plug Power by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 19,917,268 shares of the electronics maker’s stock valued at $42,434,000 after buying an additional 722,639 shares during the period. Legal & General Group Plc grew its position in shares of Plug Power by 8.5% during the fourth quarter. Legal & General Group Plc now owns 10,141,849 shares of the electronics maker’s stock worth $21,602,000 after buying an additional 796,774 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of Plug Power by 11.1% during the fourth quarter. Northern Trust Corp now owns 7,907,687 shares of the electronics maker’s stock worth $16,843,000 after buying an additional 790,650 shares during the period. Hedge funds and other institutional investors own 43.48% of the company’s stock.

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.