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

Plug Power Inc. (NASDAQ:PLUG)’s stock price reached a new 52-week low during trading on Tuesday . The stock 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.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. BTIG Research downgraded shares of Plug Power from a “buy” rating to a “neutral” rating in a report on Thursday, November 14th. StockNews.com upgraded shares of Plug Power to a “sell” rating in a research note on Monday, February 10th. Piper Sandler decreased their price target on shares of Plug Power from $1.60 to $1.40 and set an “underweight” rating on the stock in a research note on Thursday, November 14th. Susquehanna upped their price target on shares of Plug Power from $2.00 to $2.50 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Finally, Wells Fargo & Company decreased 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 note on Thursday, November 14th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $4.12.

Plug Power Price Performance

The stock has a market cap of $1.49 billion, a P/E ratio of -0.76 and a beta of 1.79. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.08 and a quick ratio of 0.95. The business’s fifty day moving average price is $2.16 and its 200 day moving average price is $2.12.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Pinnacle Wealth Planning Services Inc. acquired a new position in shares of Plug Power in the fourth quarter valued at approximately $60,000. Toronto Dominion Bank acquired a new position in shares of Plug Power in the fourth quarter valued at approximately $270,000. Retirement Planning Group LLC NY acquired a new position in shares of Plug Power in the fourth quarter valued at approximately $38,000. GTS Securities LLC increased its stake in shares of Plug Power by 150.0% in the fourth 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 stake in shares of Plug Power by 25.0% in the fourth 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 during the period. 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.