Plug Power (NASDAQ:PLUG) Hits New 52-Week Low – Should You Sell?

Plug Power Inc. (NASDAQ:PLUG) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $1.52 and last traded at $1.53, with a volume of 35465893 shares traded. The stock had previously closed at $1.61.

Analysts Set New Price Targets

PLUG has been the topic of several research reports. BTIG Research lowered shares of Plug Power from a “buy” rating to a “neutral” rating in a research report on Thursday, November 14th. Canaccord Genuity Group reduced their price objective on Plug Power from $2.50 to $2.25 and set a “hold” rating for the company in a report on Wednesday, November 13th. Evercore ISI decreased their target price on Plug Power from $5.00 to $4.00 and set an “outperform” rating for the company in a research report on Wednesday, November 13th. Seaport Res Ptn cut Plug Power from a “hold” rating to a “strong sell” rating in a research report on Monday, January 27th. Finally, HC Wainwright reissued a “buy” rating and issued a $18.00 price objective on shares of Plug Power in a report on Wednesday, November 13th. 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, Plug Power presently has an average rating of “Hold” and an average target price of $4.12.

Plug Power Stock Performance

The firm has a market capitalization of $1.37 billion, a PE ratio of -0.70 and a beta of 1.79. The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15. The company has a 50-day moving average of $2.11 and a 200 day moving average of $2.11.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in Plug Power by 5.4% in 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 in the last quarter. Norges Bank purchased a new position in Plug Power in the fourth quarter worth $146,465,000. Geode Capital Management LLC increased its stake 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 valued at $42,434,000 after acquiring an additional 722,639 shares during the last quarter. Legal & General Group Plc raised its position in 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 valued at $21,602,000 after purchasing an additional 796,774 shares in the last quarter. Finally, Northern Trust Corp raised its position in 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 purchasing an additional 790,650 shares in the last quarter. Hedge funds and other 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.