Plug Power (NASDAQ:PLUG) Trading Down 3.4% – Time to Sell?

Shares of Plug Power Inc. (NASDAQ:PLUG) dropped 3.4% during trading on Friday . The stock traded as low as $1.84 and last traded at $1.85. Approximately 22,291,863 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 72,497,445 shares. The stock had previously closed at $1.91.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PLUG shares. Susquehanna upped their target price on Plug Power from $2.00 to $2.50 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Plug Power in a research note on Wednesday, November 13th. Canaccord Genuity Group reduced their target price on Plug Power from $2.50 to $2.25 and set a “hold” rating for the company in a research note on Wednesday, November 13th. Piper Sandler decreased 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. Finally, 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. Five research analysts have rated the stock with a sell rating, eight have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Plug Power has a consensus rating of “Hold” and a consensus target price of $4.12.

Plug Power Stock Down 3.7 %

The company has a market capitalization of $1.68 billion, a PE ratio of -0.86 and a beta of 1.79. The business has a 50-day moving average of $2.34 and a 200 day moving average of $2.18. 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 released its earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share 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 net margin of 214.05% and a negative return on equity of 46.99%. The business’s revenue for the quarter was down 12.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.47) EPS. Equities research analysts predict that Plug Power Inc. will post -1.21 earnings per share for the current year.

Institutional Trading of Plug Power

Large investors have recently made changes to their positions in the stock. Nations Financial Group Inc. IA ADV grew its holdings in Plug Power by 42.3% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 15,798 shares of the electronics maker’s stock worth $36,000 after acquiring an additional 4,700 shares in the last quarter. Arkadios Wealth Advisors boosted its stake in shares of Plug Power by 18.2% during the third quarter. Arkadios Wealth Advisors now owns 33,020 shares of the electronics maker’s stock valued at $75,000 after purchasing an additional 5,075 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Plug Power by 53.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 15,410 shares of the electronics maker’s stock worth $33,000 after buying an additional 5,348 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Plug Power by 0.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 803,881 shares of the electronics maker’s stock worth $1,817,000 after buying an additional 5,485 shares during the period. Finally, Compagnie Lombard Odier SCmA boosted its position in Plug Power by 12.8% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 49,000 shares of the electronics maker’s stock valued at $104,000 after acquiring an additional 5,550 shares in the last quarter. 43.48% of the stock is owned by hedge funds and other 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.