Plug Power (NASDAQ:PLUG) Reaches New 1-Year Low – Should You Sell?

Plug Power Inc. (NASDAQ:PLUG)’s share price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $1.57 and last traded at $1.62, with a volume of 9268814 shares. The stock had previously closed at $1.62.

Analysts Set New Price Targets

PLUG has been the subject of several recent analyst reports. Canaccord Genuity Group cut 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. HC Wainwright reiterated a “buy” rating and issued a $18.00 price target on shares of Plug Power in a research note on Wednesday, November 13th. Evercore ISI decreased their price objective on shares of 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 shares of Plug Power from a “hold” rating to a “strong sell” rating in a report on Monday, January 27th. Finally, Piper Sandler reduced their price target on Plug Power from $1.60 to $1.40 and set an “underweight” rating for the company in a report on Thursday, November 14th. Five equities research analysts have rated the stock with a sell rating, eight have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $4.12.

Plug Power Price Performance

The stock’s 50-day moving average price is $2.29 and its 200-day moving average price is $2.15. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.08 and a quick ratio of 0.95.

Plug Power (NASDAQ:PLUG) last posted its quarterly earnings data on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). Plug Power had a negative net margin of 214.05% and a negative return on equity of 46.99%. The business had revenue of $173.70 million during the quarter, compared to the consensus estimate of $207.25 million. During the same period in the prior year, the firm earned ($0.47) EPS. The business’s revenue for the quarter was down 12.6% on a year-over-year basis. As a group, analysts anticipate that Plug Power Inc. will post -1.21 earnings per share for the current year.

Institutional Investors Weigh In On Plug Power

Several institutional investors have recently made changes to their positions in PLUG. Pacific Sage Partners LLC acquired a new position in Plug Power in the 4th quarter valued at $25,000. Oppenheimer & Co. Inc. bought a new position in shares of Plug Power in the fourth quarter worth $25,000. Jones Financial Companies Lllp raised 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 purchasing an additional 6,074 shares in the last quarter. Callan Family Office LLC bought a new stake in Plug Power during the fourth quarter worth about $27,000. Finally, Prio Wealth Limited Partnership acquired a new stake in Plug Power during the third quarter worth about $29,000. 43.48% of the stock is currently owned by institutional investors.

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.