Plug Power (NASDAQ:PLUG) Hits New 1-Year Low - What's Next?

Plug Power Inc. (NASDAQ:PLUG - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $1.52 and last traded at $1.53, with a volume of 35465893 shares traded. The stock had previously closed at $1.61.

Analyst Upgrades and Downgrades

Several research firms have commented on PLUG. Piper Sandler cut their target price on Plug Power from $1.40 to $1.10 and set an "underweight" rating on the stock in a research note on Wednesday. Wells Fargo & Company lowered their price objective on shares of Plug Power from $3.00 to $2.00 and set an "equal weight" rating on the stock in a report on Thursday, November 14th. Morgan Stanley reduced their target price on shares of Plug Power from $1.75 to $1.60 and set an "underweight" rating for the company in a report on Thursday. HC Wainwright decreased their target price on shares of Plug Power from $5.00 to $3.00 and set a "buy" rating for the company in a research report on Wednesday. Finally, BMO Capital Markets cut their price target on shares of Plug Power from $1.60 to $1.40 and set an "underperform" rating on the stock in a research report on Wednesday. Six equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, Plug Power currently has an average rating of "Hold" and an average price target of $2.34.

Plug Power Stock Up 7.9 %

The firm has a market cap of $1.62 billion, a P/E ratio of -0.83 and a beta of 1.79. The firm's fifty day moving average is $2.06 and its 200 day moving average is $2.10. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 2.08.

Remove Ads

Institutional Trading of Plug Power

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

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.