Plug Power (NASDAQ:PLUG) Hits New 12-Month Low – Time to Sell?

Plug Power Inc. (NASDAQ:PLUG) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $1.53 and last traded at $1.59, with a volume of 80253455 shares trading hands. The stock had previously closed at $1.66.

Analyst Ratings Changes

Several research analysts recently issued reports on PLUG shares. BTIG Research cut Plug Power from a “buy” rating to a “neutral” rating in a research note on Thursday, November 14th. Susquehanna increased their price target on Plug Power from $2.00 to $2.50 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. Wells Fargo & Company decreased their price objective on Plug Power from $3.00 to $2.00 and set an “equal weight” rating for the company in a report on Thursday, November 14th. Canaccord Genuity Group lowered their price objective on shares of Plug Power from $2.50 to $2.25 and set a “hold” rating for the company in a research note on Wednesday, November 13th. Finally, StockNews.com raised shares of Plug Power to a “sell” rating in a research report on Monday, February 10th. Five research analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $4.12.

Plug Power Stock Performance

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 stock has a market cap of $1.45 billion, a PE ratio of -0.74 and a beta of 1.79. The business’s 50-day moving average price is $2.19 and its 200-day moving average price is $2.13.

Institutional Trading of Plug Power

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in Plug Power by 5.4% during the 4th quarter. Vanguard Group Inc. now owns 87,438,503 shares of the electronics maker’s stock worth $186,244,000 after buying an additional 4,491,114 shares during the last quarter. Norges Bank acquired a new stake in Plug Power in the fourth quarter worth about $146,465,000. Geode Capital Management LLC boosted its holdings in Plug Power by 3.8% in the fourth quarter. Geode Capital Management LLC now owns 19,917,268 shares of the electronics maker’s stock worth $42,434,000 after acquiring an additional 722,639 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Plug Power by 8.5% during the fourth quarter. Legal & General Group Plc now owns 10,141,849 shares of the electronics maker’s stock worth $21,602,000 after acquiring an additional 796,774 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Plug Power by 11.1% during the fourth quarter. Northern Trust Corp now owns 7,907,687 shares of the electronics maker’s stock valued at $16,843,000 after acquiring an additional 790,650 shares in the last quarter. Hedge funds and other institutional investors 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.