Plug Power (NASDAQ:PLUG) Hits New 1-Year Low – Here’s Why

Plug Power Inc. (NASDAQ:PLUG)’s share price hit a new 52-week low on Wednesday . The company traded as low as $0.98 and last traded at $1.00, with a volume of 104817960 shares. The stock had previously closed at $1.06.

Analyst Upgrades and Downgrades

Several research firms have commented on PLUG. Piper Sandler cut their price objective on Plug Power from $1.40 to $1.10 and set an “underweight” rating on the stock in a research report on Wednesday, March 5th. UBS Group dropped their target price on Plug Power from $2.50 to $1.75 and set a “neutral” rating on the stock in a report on Friday, March 21st. B. Riley lowered their price objective on shares of Plug Power from $4.00 to $3.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. Susquehanna dropped their price objective on shares of Plug Power from $1.80 to $1.25 and set a “neutral” rating on the stock in a research note on Monday. Finally, StockNews.com upgraded shares of Plug Power to a “sell” rating in a research note on Tuesday, March 4th. Five research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Plug Power has a consensus rating of “Hold” and a consensus price target of $2.29.

Plug Power Stock Performance

The company has a fifty day moving average of $1.48 and a two-hundred day moving average of $1.96. The stock has a market capitalization of $832.94 million, a P/E ratio of -0.42 and a beta of 2.07. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.08 and a quick ratio of 0.95.

Institutional Investors Weigh In On Plug Power

A number of institutional investors have recently made changes to their positions in PLUG. Oppenheimer & Co. Inc. acquired a new position in Plug Power in the fourth quarter worth $25,000. Pacific Sage Partners LLC bought a new position in shares of Plug Power in the 4th quarter worth about $25,000. Jones Financial Companies Lllp lifted its position in shares of 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 buying an additional 6,074 shares during the last quarter. Callan Family Office LLC acquired a new position in shares of Plug Power in the 4th quarter valued at about $27,000. Finally, Ground Swell Capital LLC bought a new stake in shares of Plug Power during the 4th quarter valued at about $27,000. 43.48% of the stock is currently owned by institutional investors.

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.