Plug Power (NASDAQ:PLUG) Reaches New 1-Year Low - What's Next?

Shares of Plug Power Inc. (NASDAQ:PLUG - Get Free Report) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $0.76 and last traded at $0.79, with a volume of 135113854 shares. The stock had previously closed at $0.90.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. UBS Group decreased their price target on Plug Power from $2.50 to $1.75 and set a "neutral" rating on the stock in a report on Friday, March 21st. Morgan Stanley lowered their price target on Plug Power from $1.75 to $1.60 and set an "underweight" rating on the stock in a report on Thursday, March 6th. B. Riley cut their price objective on shares of Plug Power from $4.00 to $3.00 and set a "buy" rating for the company in a report on Wednesday, March 5th. Piper Sandler reduced their price objective on shares of Plug Power from $1.40 to $1.10 and set an "underweight" rating on the stock in a research report on Wednesday, March 5th. Finally, BMO Capital Markets dropped their target price on shares of Plug Power from $1.60 to $1.40 and set an "underperform" rating for the company in a research report on Wednesday, March 5th. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, Plug Power has a consensus rating of "Hold" and a consensus price target of $2.29.

Plug Power Price Performance

The firm has a market capitalization of $750.87 million, a P/E ratio of -0.38 and a beta of 2.07. The company has a current ratio of 2.08, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. The firm has a 50 day moving average price of $1.37 and a 200-day moving average price of $1.91.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Pacific Sage Partners LLC bought a new stake in shares of Plug Power in the 4th quarter worth about $25,000. Oppenheimer & Co. Inc. bought a new stake in Plug Power in the fourth quarter worth about $25,000. Jones Financial Companies Lllp boosted its position in shares of Plug Power by 107.4% during the fourth quarter. Jones Financial Companies Lllp now owns 11,730 shares of the electronics maker's stock valued at $25,000 after buying an additional 6,074 shares during the period. Miracle Mile Advisors LLC bought a new position in shares of Plug Power during the first quarter valued at approximately $26,000. Finally, Callan Family Office LLC bought a new position in shares of Plug Power during the fourth quarter valued at approximately $27,000. 43.48% of the stock is owned by hedge funds and other 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.