Plug Power (NASDAQ:PLUG) Shares Gap Down - Should You Sell?

Plug Power Inc. (NASDAQ:PLUG - Get Free Report) shares gapped down before the market opened on Wednesday . The stock had previously closed at $1.62, but opened at $1.57. Plug Power shares last traded at $1.65, with a volume of 11,385,912 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. UBS Group cut their price target on Plug Power from $2.50 to $1.75 and set a "neutral" rating for the company in a research note on Friday. Truist Financial decreased their target price on Plug Power from $2.00 to $1.50 and set a "hold" rating on the stock in a research note on Wednesday, March 5th. B. Riley dropped their price target on Plug Power from $4.00 to $3.00 and set a "buy" rating for the company in a research note on Wednesday, March 5th. Seaport Res Ptn cut shares of Plug Power from a "hold" rating to a "strong sell" rating in a research report on Monday, January 27th. Finally, StockNews.com raised shares of Plug Power to a "sell" rating in a report on Tuesday, March 4th. Six research analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $2.31.

Remove Ads

Plug Power Trading Down 3.8 %

The stock has a market cap of $1.42 billion, a PE ratio of -0.71 and a beta of 1.98. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 2.08. The stock has a fifty day moving average price of $1.86 and a 200 day moving average price of $2.07.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PLUG. Charles Schwab Investment Management Inc. boosted its stake in shares of Plug Power by 25.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,637,039 shares of the electronics maker's stock worth $15,000,000 after purchasing an additional 1,354,500 shares during the period. XTX Topco Ltd purchased a new position in shares of Plug Power during the third quarter valued at approximately $2,174,000. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Plug Power by 24.5% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,421,222 shares of the electronics maker's stock valued at $5,472,000 after buying an additional 476,060 shares during the period. Stifel Financial Corp raised its holdings in shares of Plug Power by 23.4% in the third quarter. Stifel Financial Corp now owns 1,398,398 shares of the electronics maker's stock worth $3,160,000 after buying an additional 265,514 shares during the period. Finally, MetLife Investment Management LLC raised its holdings in shares of Plug Power by 166.4% in the third quarter. MetLife Investment Management LLC now owns 424,297 shares of the electronics maker's stock worth $959,000 after buying an additional 265,042 shares during the period. 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.