Plug Power (NASDAQ:PLUG) Sets New 52-Week Low – Here’s Why

Plug Power Inc. (NASDAQ:PLUG) shares hit a new 52-week low 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.

Wall Street Analysts Forecast Growth

PLUG has been the topic of several analyst reports. Craig Hallum dropped their target price on shares of Plug Power from $4.00 to $3.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. HC Wainwright restated a “buy” rating and set a $18.00 price target on shares of Plug Power in a report on Wednesday, November 13th. Evercore ISI dropped their price objective on shares of Plug Power from $5.00 to $4.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 13th. Seaport Res Ptn downgraded Plug Power from a “hold” rating to a “strong sell” rating in a research note on Monday, January 27th. Finally, Wells Fargo & Company cut their price target on Plug Power from $3.00 to $2.00 and set an “equal weight” rating for the company in a research note on Thursday, November 14th. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Plug Power currently has an average rating of “Hold” and an average target price of $4.12.

Plug Power Trading Up 1.5 %

The business’s 50-day moving average price is $2.31 and its 200 day moving average price is $2.16. The company has a market cap of $1.50 billion, a P/E ratio of -0.76 and a beta of 1.79. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 2.08.

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

Institutional Trading of Plug Power

A number of institutional investors have recently modified their holdings of the stock. Pacific Sage Partners LLC acquired a new position in shares of Plug Power in the fourth quarter valued at approximately $25,000. Oppenheimer & Co. Inc. bought a new stake in Plug Power during the 4th quarter worth approximately $25,000. Jones Financial Companies Lllp increased its position in Plug Power by 107.4% in the 4th quarter. Jones Financial Companies Lllp now owns 11,730 shares of the electronics maker’s stock valued at $25,000 after acquiring an additional 6,074 shares during the period. Callan Family Office LLC acquired a new stake in Plug Power in the fourth quarter valued at $27,000. Finally, Prio Wealth Limited Partnership acquired a new position in Plug Power during the 3rd quarter worth about $29,000. 43.48% of the stock is currently owned by 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.