Plug Power (NASDAQ:PLUG) Stock Price Down 0.8% – Should You Sell?

Plug Power Inc. (NASDAQ:PLUG) was down 0.8% during mid-day trading on Wednesday . The stock traded as low as $1.77 and last traded at $1.80. Approximately 12,222,145 shares were traded during trading, a decline of 82% from the average daily volume of 68,593,539 shares. The stock had previously closed at $1.81.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PLUG shares. StockNews.com raised shares of Plug Power to a “sell” rating in a research report on Monday, February 10th. Wells Fargo & Company decreased their price objective on shares of Plug Power from $3.00 to $2.00 and set an “equal weight” rating on the stock in a report on Thursday, November 14th. HC Wainwright reiterated a “buy” rating and issued a $18.00 price objective on shares of Plug Power in a report on Wednesday, November 13th. Canaccord Genuity Group decreased their price objective on shares of Plug Power from $2.50 to $2.25 and set a “hold” rating on the stock in a report on Wednesday, November 13th. Finally, Seaport Res Ptn downgraded shares of Plug Power from a “hold” rating to a “strong sell” rating in a report on Monday, January 27th. Five investment analysts have rated the stock with a sell rating, eight have issued 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 stock presently has a consensus rating of “Hold” and an average target price of $4.12.

Plug Power Price Performance

The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of -0.84 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 business’s 50 day simple moving average is $2.25 and its 200-day simple moving average is $2.14.

Institutional Investors Weigh In On Plug Power

A number of large investors have recently bought and sold shares of PLUG. Creative Planning grew its stake in Plug Power by 35.9% during the third quarter. Creative Planning now owns 115,614 shares of the electronics maker’s stock worth $261,000 after buying an additional 30,552 shares in the last quarter. Prio Wealth Limited Partnership acquired a new stake in Plug Power during the third quarter worth about $29,000. Krane Funds Advisors LLC grew its stake in Plug Power by 8.6% during the third quarter. Krane Funds Advisors LLC now owns 436,616 shares of the electronics maker’s stock worth $987,000 after buying an additional 34,673 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of Plug Power by 119.3% in the third quarter. Signaturefd LLC now owns 19,028 shares of the electronics maker’s stock worth $43,000 after acquiring an additional 10,352 shares during the last quarter. Finally, Eastern Bank bought a new position in shares of Plug Power in the third quarter worth about $53,000. 43.48% of the stock is currently owned by institutional investors and hedge funds.

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.