Plug Power (NASDAQ:PLUG) Trading Down 4.6% – Time to Sell?

Plug Power Inc. (NASDAQ:PLUG)’s share price traded down 4.6% during mid-day trading on Monday . The company traded as low as $1.65 and last traded at $1.76. 36,698,548 shares were traded during trading, a decline of 49% from the average session volume of 72,595,031 shares. The stock had previously closed at $1.84.

Analyst Ratings Changes

A number of equities research analysts recently commented on PLUG shares. Seaport Res Ptn downgraded shares of Plug Power from a “hold” rating to a “strong sell” rating in a research report on Monday, January 27th. Wells Fargo & Company cut their target price 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. Susquehanna lifted their price target on Plug Power from $2.00 to $2.50 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Evercore ISI cut their price objective on Plug Power from $5.00 to $4.00 and set an “outperform” rating for the company in a research report on Wednesday, November 13th. Finally, HC Wainwright reiterated a “buy” rating and set a $18.00 price target on shares of Plug Power in a research report on Wednesday, November 13th. Five equities 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $4.12.

Plug Power Trading Up 1.9 %

The business has a 50 day moving average of $2.31 and a 200 day moving average of $2.16. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of -0.77 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.

Plug Power (NASDAQ:PLUG) last issued its quarterly earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). The firm had revenue of $173.70 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.47) earnings per share. On average, research analysts forecast that Plug Power Inc. will post -1.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Plug Power

Hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its position in Plug Power by 25.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,637,039 shares of the electronics maker’s stock worth $15,000,000 after purchasing an additional 1,354,500 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Plug Power during the 3rd quarter worth $2,174,000. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Plug Power by 24.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,421,222 shares of the electronics maker’s stock worth $5,472,000 after buying an additional 476,060 shares during the period. Stifel Financial Corp raised its position in shares of Plug Power by 23.4% in the 3rd quarter. Stifel Financial Corp now owns 1,398,398 shares of the electronics maker’s stock worth $3,160,000 after buying an additional 265,514 shares during the period. Finally, MetLife Investment Management LLC boosted its holdings in Plug Power by 166.4% in the third quarter. MetLife Investment Management LLC now owns 424,297 shares of the electronics maker’s stock valued at $959,000 after acquiring an additional 265,042 shares during the last quarter. 43.48% of the stock is owned by institutional investors and hedge funds.

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.