Plug Power (NASDAQ:PLUG) Reaches New 52-Week Low - What's Next?

Plug Power Inc. (NASDAQ:PLUG - Get Free Report) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $1.53 and last traded at $1.59, with a volume of 80253455 shares traded. The stock had previously closed at $1.66.

Analyst Ratings Changes

Several research firms have weighed in on PLUG. Evercore ISI lowered their price objective on shares of Plug Power from $5.00 to $4.00 and set an "outperform" rating for the company in a research report on Wednesday, November 13th. Seaport Res Ptn lowered shares of Plug Power from a "hold" rating to a "strong sell" rating in a report on Monday, January 27th. StockNews.com raised Plug Power to a "sell" rating in a report on Monday, February 10th. Craig Hallum decreased their price objective on Plug Power from $4.00 to $3.00 and set a "buy" rating on the stock in a research report on Thursday, November 14th. Finally, Wells Fargo & Company dropped their target price on Plug Power from $3.00 to $2.00 and set an "equal weight" rating for the company in a research 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $4.12.

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Plug Power Trading Down 1.2 %

The company's fifty day simple moving average is $2.14 and its two-hundred day simple moving average is $2.12. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of -0.75 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.

Institutional Investors Weigh In On Plug Power

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Plug Power by 5.4% in the 4th 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 bought a new position in Plug Power in the fourth quarter valued at approximately $146,465,000. Geode Capital Management LLC boosted its holdings in shares of Plug Power by 3.8% in the fourth 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 increased 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 acquiring an additional 796,774 shares in the last quarter. Finally, Northern Trust Corp raised its holdings 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 acquiring an additional 790,650 shares during the period. 43.48% of the stock is currently owned by 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.