Plug Power (NASDAQ:PLUG) Hits New 12-Month Low - Time to Sell?

Plug Power Inc. (NASDAQ:PLUG - Get Free Report)'s share price reached a new 52-week low on Thursday . The stock traded as low as $1.24 and last traded at $1.22, with a volume of 11097041 shares trading hands. The stock had previously closed at $1.32.

Analysts Set New Price Targets

PLUG has been the subject of several recent research reports. Piper Sandler cut their price objective on Plug Power from $1.40 to $1.10 and set an "underweight" rating for the company in a report on Wednesday, March 5th. BMO Capital Markets reduced their target price on shares of Plug Power from $1.60 to $1.40 and set an "underperform" rating for the company in a research note on Wednesday, March 5th. UBS Group dropped their price target on shares of Plug Power from $2.50 to $1.75 and set a "neutral" rating on the stock in a research note on Friday, March 21st. B. Riley reduced their price objective on shares of Plug Power from $4.00 to $3.00 and set a "buy" rating for the company in a research note on Wednesday, March 5th. Finally, Seaport Res Ptn lowered Plug Power from a "hold" rating to a "strong sell" rating in a report on Monday, January 27th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $2.33.

Plug Power Trading Down 10.0 %

The company's fifty day moving average price is $1.64 and its two-hundred day moving average price is $2.03. The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15. The company has a market cap of $1.04 billion, a price-to-earnings ratio of -0.52 and a beta of 2.07.

Hedge Funds Weigh In On Plug Power

Several institutional investors have recently bought and sold shares of PLUG. Oppenheimer & Co. Inc. acquired a new stake in shares of Plug Power in the fourth quarter valued at $25,000. Pacific Sage Partners LLC acquired a new stake in Plug Power in the 4th quarter valued at about $25,000. Jones Financial Companies Lllp lifted its position in shares of Plug Power by 107.4% during the fourth quarter. Jones Financial Companies Lllp now owns 11,730 shares of the electronics maker's stock worth $25,000 after purchasing an additional 6,074 shares in the last quarter. Callan Family Office LLC bought a new stake in shares of Plug Power during the fourth quarter valued at approximately $27,000. Finally, Ground Swell Capital LLC acquired a new stake in shares of Plug Power in the fourth quarter valued at approximately $27,000. Institutional investors 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.