Plug Power (NASDAQ:PLUG) Shares Gap Down – Should You Sell?

Plug Power Inc. (NASDAQ:PLUG) shares gapped down prior to trading on Tuesday . The stock had previously closed at $1.50, but opened at $1.39. Plug Power shares last traded at $1.56, with a volume of 22,851,999 shares traded.

Analyst Ratings Changes

Several research firms have commented on PLUG. Susquehanna increased their target price on Plug Power from $2.00 to $2.50 and gave the company a “neutral” rating in a research report on Thursday, January 16th. HC Wainwright reissued a “buy” rating and set a $18.00 target price on shares of Plug Power in a report on Wednesday, November 13th. 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. Craig Hallum cut their price target on shares of Plug Power from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Finally, BTIG Research downgraded Plug Power from a “buy” rating to a “neutral” rating in a report on Thursday, November 14th. Five research analysts have rated the stock with a sell rating, eight have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $4.12.

Plug Power Stock Performance

The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 2.08. The stock has a fifty day simple moving average of $2.11 and a two-hundred day simple moving average of $2.11. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of -0.77 and a beta of 1.79.

Hedge Funds Weigh In On Plug Power

Several institutional investors have recently added to or reduced their stakes in PLUG. Pinnacle Wealth Planning Services Inc. bought a new position in Plug Power during the fourth quarter worth $60,000. Toronto Dominion Bank bought a new position in shares of Plug Power during the 4th quarter worth about $270,000. Retirement Planning Group LLC NY bought a new position in shares of Plug Power during the 4th quarter worth about $38,000. GTS Securities LLC grew its stake in shares of Plug Power by 150.0% in the 4th quarter. GTS Securities LLC now owns 18,750 shares of the electronics maker’s stock valued at $40,000 after buying an additional 56,255 shares during the period. Finally, 49 Wealth Management LLC increased its position in Plug Power by 25.0% in the 4th quarter. 49 Wealth Management LLC now owns 29,180 shares of the electronics maker’s stock valued at $62,000 after buying an additional 5,834 shares in the last quarter. 43.48% of the stock is owned by institutional investors and hedge funds.

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.