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

Plug Power Inc. (NASDAQ:PLUG)’s share price fell 3.7% during mid-day trading on Thursday . The company traded as low as $1.68 and last traded at $1.71. 25,056,813 shares were traded during 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 research firms have recently commented on PLUG. StockNews.com upgraded shares of Plug Power to a “sell” rating in a research note on Monday, February 10th. Evercore ISI reduced their target price on Plug Power from $5.00 to $4.00 and set an “outperform” rating for the company in a research note on Wednesday, November 13th. Piper Sandler dropped their price target on Plug Power from $1.60 to $1.40 and set an “underweight” rating on the stock in a research note on Thursday, November 14th. Susquehanna raised their price objective on Plug Power from $2.00 to $2.50 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. Finally, Wells Fargo & Company dropped their target price on Plug Power from $3.00 to $2.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 14th. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Plug Power presently has an average rating of “Hold” and a consensus price target of $4.12.

Plug Power Stock Down 3.7 %

The business’s fifty day simple moving average is $2.23 and its two-hundred day simple moving average is $2.13. The company has a market cap of $1.55 billion, a PE ratio of -0.80 and a beta of 1.79. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.08 and a quick ratio of 0.95.

Hedge Funds Weigh In On Plug Power

A number of large investors have recently bought and sold shares of the business. Oppenheimer & Co. Inc. purchased a new stake in shares of Plug Power in the fourth quarter valued at approximately $25,000. Pacific Sage Partners LLC acquired a new stake in Plug Power in the 4th quarter valued at $25,000. Jones Financial Companies Lllp increased its holdings in Plug Power by 107.4% in 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 acquired a new position in Plug Power during the fourth quarter worth $27,000. Finally, Ground Swell Capital LLC purchased a new position in Plug Power during the fourth quarter valued at $27,000. Institutional investors and hedge funds 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.