Plug Power (NASDAQ:PLUG) Reaches New 52-Week Low - Time to Sell?

Shares of Plug Power Inc. (NASDAQ:PLUG - Get Free Report) reached a new 52-week low during trading on Wednesday . The stock traded as low as $0.98 and last traded at $1.00, with a volume of 104817960 shares changing hands. The stock had previously closed at $1.06.

Wall Street Analysts Forecast Growth

PLUG has been the topic of several research analyst reports. Seaport Res Ptn downgraded Plug Power from a "hold" rating to a "strong sell" rating in a research note on Monday, January 27th. Susquehanna dropped their target price on shares of Plug Power from $1.80 to $1.25 and set a "neutral" rating on the stock in a research report on Monday, April 14th. StockNews.com upgraded shares of Plug Power to a "sell" rating in a research note on Tuesday, March 4th. Truist Financial cut their target price on Plug Power from $2.00 to $1.50 and set a "hold" rating on the stock in a research report on Wednesday, March 5th. Finally, Canaccord Genuity Group lowered their price target on Plug Power from $2.00 to $1.25 and set a "hold" rating for the company in a research report on Wednesday, March 5th. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, Plug Power presently has an average rating of "Hold" and a consensus price target of $2.29.

Plug Power Trading Down 2.3 %

The business has a 50-day moving average of $1.47 and a 200 day moving average of $1.95. The stock has a market cap of $832.94 million, a PE ratio of -0.42 and a beta of 2.07. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 2.08.

Institutional Investors Weigh In On Plug Power

Several large investors have recently made changes to their positions in the business. Geode Capital Management LLC grew its holdings in Plug Power by 23.6% during the 3rd quarter. Geode Capital Management LLC now owns 19,194,629 shares of the electronics maker's stock valued at $43,388,000 after purchasing an additional 3,662,456 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in Plug Power during the 3rd quarter worth approximately $206,000. Kieckhefer Group LLC acquired a new position in shares of Plug Power in the 4th quarter valued at approximately $138,000. Arkadios Wealth Advisors boosted its stake in shares of Plug Power by 88.0% during the 4th quarter. Arkadios Wealth Advisors now owns 62,082 shares of the electronics maker's stock valued at $132,000 after buying an additional 29,062 shares during the last quarter. Finally, ACT Wealth Management LLC grew its position in shares of Plug Power by 71.4% during the fourth quarter. ACT Wealth Management LLC now owns 24,000 shares of the electronics maker's stock worth $51,000 after buying an additional 10,000 shares in the last quarter. Institutional investors and hedge funds own 43.48% of the company's stock.

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.