Plug Power (NASDAQ:PLUG) Stock Price Down 0.3% – Time to Sell?

Plug Power Inc. (NASDAQ:PLUG) traded down 0.3% during trading on Monday . The stock traded as low as $1.72 and last traded at $1.78. 22,301,358 shares changed hands 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

A number of equities analysts have recently commented on PLUG shares. Craig Hallum cut their target price on shares of Plug Power from $4.00 to $3.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. Susquehanna decreased their target price on Plug Power from $2.50 to $1.80 and set a “neutral” rating for the company in a research report on Wednesday, March 5th. Truist Financial dropped their target price on Plug Power from $2.00 to $1.50 and set a “hold” rating on the stock in a report on Wednesday, March 5th. B. Riley decreased their price target on Plug Power from $4.00 to $3.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. Finally, Piper Sandler dropped their price objective on shares of Plug Power from $1.40 to $1.10 and set an “underweight” rating on the stock in a research note on Wednesday, March 5th. Six investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Plug Power presently has a consensus rating of “Hold” and a consensus target price of $2.34.

Plug Power Trading Down 3.9 %

The company has a current ratio of 2.08, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. The company has a market cap of $1.58 billion, a price-to-earnings ratio of -0.80 and a beta of 1.98. The firm has a 50-day moving average price of $2.05 and a 200 day moving average price of $2.09.

Institutional Trading of Plug Power

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