Plug Power (NASDAQ:PLUG) Shares Down 0.3% - Should You Sell?

Plug Power Inc. (NASDAQ:PLUG - Get Free Report) traded down 0.3% on Monday . The company traded as low as $1.72 and last traded at $1.78. 22,301,358 shares were traded during mid-day trading, a decline of 67% from the average session volume of 67,389,695 shares. The stock had previously closed at $1.78.

Wall Street Analyst Weigh In

Several analysts have issued reports on PLUG shares. Susquehanna dropped their price target on Plug Power from $2.50 to $1.80 and set a "neutral" rating on the stock in a research note on Wednesday, March 5th. Morgan Stanley dropped their target price on Plug Power from $1.75 to $1.60 and set an "underweight" rating on the stock in a research report on Thursday, March 6th. Piper Sandler reduced their price target on Plug Power from $1.40 to $1.10 and set an "underweight" rating for the company in a research report on Wednesday, March 5th. BTIG Research cut shares of Plug Power from a "buy" rating to a "neutral" rating in a research note on Thursday, November 14th. Finally, Evercore ISI cut their price objective on shares of Plug Power from $5.00 to $4.00 and set an "outperform" rating on the stock in a research report on Wednesday, November 13th. Six analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $2.34.

Plug Power Trading Down 0.6 %

The company has a debt-to-equity ratio of 0.15, a current ratio of 2.08 and a quick ratio of 0.95. The business has a 50-day simple moving average of $2.03 and a two-hundred day simple moving average of $2.09. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of -0.78 and a beta of 1.98.

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Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Pacific Sage Partners LLC bought a new position in Plug Power during the fourth quarter worth $25,000. Oppenheimer & Co. Inc. acquired a new stake in shares of Plug Power during the 4th quarter worth about $25,000. Jones Financial Companies Lllp boosted its holdings in shares of Plug Power by 107.4% during the 4th quarter. Jones Financial Companies Lllp now owns 11,730 shares of the electronics maker's stock worth $25,000 after buying an additional 6,074 shares during the period. Callan Family Office LLC acquired a new position in Plug Power in the 4th quarter valued at about $27,000. Finally, Ground Swell Capital LLC bought a new position in Plug Power in the 4th quarter valued at about $27,000. 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.