Plug Power (NASDAQ:PLUG) Stock Price Down 0.9% – Time to Sell?

Plug Power Inc. (NASDAQ:PLUG)’s stock price fell 0.9% during mid-day trading on Friday . The stock traded as low as $0.83 and last traded at $0.84. 40,902,701 shares were traded during mid-day trading, a decline of 25% from the average session volume of 54,264,151 shares. The stock had previously closed at $0.85.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. BMO Capital Markets cut their target price on Plug Power from $1.60 to $1.40 and set an “underperform” rating on the stock in a research report on Wednesday, March 5th. Canaccord Genuity Group reduced their target price on shares of Plug Power from $2.00 to $1.25 and set a “hold” rating on the stock in a research note on Wednesday, March 5th. Truist Financial dropped their price target on shares of Plug Power from $2.00 to $1.50 and set a “hold” rating for the company in a research note on Wednesday, March 5th. Seaport Res Ptn lowered shares of Plug Power from a “hold” rating to a “strong sell” rating in a research report on Monday, January 27th. Finally, Piper Sandler dropped their target price on Plug Power from $1.40 to $1.10 and set an “underweight” rating for the company in a research report on Wednesday, March 5th. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Plug Power has a consensus rating of “Hold” and an average target price of $2.29.

Plug Power Stock Performance

The firm’s fifty day moving average price is $1.30 and its 200 day moving average price is $1.87. The firm has a market cap of $780.02 million, a P/E ratio of -0.39 and a beta of 2.19. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 2.08.

Institutional Trading of Plug Power

A number of hedge funds have recently bought and sold shares of the stock. Oppenheimer & Co. Inc. purchased a new stake in shares of Plug Power during the 4th quarter worth $25,000. Pacific Sage Partners LLC bought a new stake in shares of Plug Power in the 4th quarter valued at about $25,000. Jones Financial Companies Lllp grew 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 purchased a new position in shares of Plug Power in the 4th quarter worth approximately $27,000. Finally, Ground Swell Capital LLC purchased a new stake in Plug Power during the fourth quarter valued at approximately $27,000. 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.