Plug Power (NASDAQ:PLUG) Trading Down 3.7% - Time to Sell?

Plug Power Inc. (NASDAQ:PLUG - Get Free Report) shares traded down 3.7% on Thursday . The stock traded as low as $1.68 and last traded at $1.71. 25,056,813 shares traded hands during mid-day trading, a decline of 63% from the average session volume of 67,982,063 shares. The stock had previously closed at $1.77.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. StockNews.com raised shares of Plug Power to a "sell" rating in a research note on Monday, February 10th. Wells Fargo & Company reduced their target price on shares of Plug Power from $3.00 to $2.00 and set an "equal weight" rating on the stock in a research note on Thursday, November 14th. BTIG Research downgraded shares of Plug Power from a "buy" rating to a "neutral" rating in a research note on Thursday, November 14th. Seaport Res Ptn downgraded shares of Plug Power from a "hold" rating to a "strong sell" rating in a research note on Monday, January 27th. Finally, Canaccord Genuity Group reduced their target price on shares of Plug Power from $2.50 to $2.25 and set a "hold" rating on the stock in a research note on Wednesday, November 13th. Five analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Plug Power has an average rating of "Hold" and a consensus target price of $4.12.

Plug Power Trading Down 5.1 %

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 company's fifty day simple moving average is $2.20 and its 200-day simple moving average is $2.13. The company has a market capitalization of $1.51 billion, a P/E ratio of -0.78 and a beta of 1.79.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PLUG. Pacific Sage Partners LLC bought a new position in Plug Power during the 4th quarter worth about $25,000. Oppenheimer & Co. Inc. bought a new position in Plug Power during the 4th quarter worth about $25,000. Jones Financial Companies Lllp grew its holdings in 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 acquiring an additional 6,074 shares in the last quarter. Callan Family Office LLC purchased a new stake in shares of Plug Power during the fourth quarter valued at about $27,000. Finally, Ground Swell Capital LLC purchased a new stake in shares of Plug Power during the fourth quarter valued at about $27,000. 43.48% of the stock is currently owned by institutional investors.

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.