Plug Power (NASDAQ:PLUG) Stock Price Down 0.8% – Should You Sell?

Plug Power Inc. (NASDAQ:PLUG)’s share price fell 0.8% during mid-day trading on Wednesday . The stock traded as low as $1.77 and last traded at $1.80. 12,222,145 shares changed hands during trading, a decline of 82% from the average session volume of 68,593,539 shares. The stock had previously closed at $1.81.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PLUG. Wells Fargo & Company decreased their target price on Plug Power from $3.00 to $2.00 and set an “equal weight” rating for the company in a research report on Thursday, November 14th. Seaport Res Ptn lowered Plug Power from a “hold” rating to a “strong sell” rating in a research report on Monday, January 27th. Craig Hallum decreased their target price on Plug Power from $4.00 to $3.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Piper Sandler decreased their target price on Plug Power from $1.60 to $1.40 and set an “underweight” rating for the company in a research report on Thursday, November 14th. Finally, Canaccord Genuity Group decreased their price objective on Plug Power from $2.50 to $2.25 and set a “hold” rating for the company in a research report on Wednesday, November 13th. Five analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $4.12.

Plug Power Price Performance

The company has a market cap of $1.64 billion, a P/E ratio of -0.84 and a beta of 1.79. 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 has a fifty day moving average price of $2.25 and a two-hundred day moving average price of $2.14.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PLUG. Pacific Sage Partners LLC bought a new position in shares of Plug Power in the fourth quarter valued at $25,000. Oppenheimer & Co. Inc. bought a new stake in Plug Power during the fourth quarter worth $25,000. Jones Financial Companies Lllp raised its position in 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 acquiring an additional 6,074 shares in the last quarter. Callan Family Office LLC bought a new stake in Plug Power during the fourth quarter worth $27,000. Finally, Ground Swell Capital LLC bought a new stake in Plug Power during the fourth quarter worth $27,000. Institutional investors and hedge funds own 43.48% of the company’s stock.

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.