Plug Power (NASDAQ:PLUG) Trading Down 5.4% – Should You Sell?

Plug Power Inc. (NASDAQ:PLUG)’s share price traded down 5.4% during mid-day trading on Wednesday . The stock traded as low as $1.86 and last traded at $1.86. 24,794,399 shares were traded during mid-day trading, a decline of 68% from the average session volume of 77,918,836 shares. The stock had previously closed at $1.96.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Seaport Res Ptn cut Plug Power from a “hold” rating to a “strong sell” rating in a report on Monday. HC Wainwright restated a “buy” rating and set a $18.00 target price on shares of Plug Power in a report on Wednesday, November 13th. Jefferies Financial Group reduced their target price on Plug Power from $2.20 to $2.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Piper Sandler reduced their target price on Plug Power from $1.60 to $1.40 and set an “underweight” rating on the stock in a report on Thursday, November 14th. Finally, Wells Fargo & Company reduced their target price on Plug Power from $3.00 to $2.00 and set an “equal weight” rating on the stock in a report on Thursday, November 14th. Five research analysts have rated the stock with a sell rating, ten have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $4.46.

Plug Power Trading Down 3.8 %

The business has a 50 day moving average of $2.36 and a two-hundred day moving average of $2.22. 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 market cap of $1.72 billion, a P/E ratio of -0.88 and a beta of 1.79.

Plug Power (NASDAQ:PLUG) last posted its quarterly earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). Plug Power had a negative net margin of 214.05% and a negative return on equity of 46.99%. The business had revenue of $173.70 million during the quarter, compared to the consensus estimate of $207.25 million. During the same quarter last year, the company posted ($0.47) EPS. The firm’s revenue was down 12.6% on a year-over-year basis. Analysts predict that Plug Power Inc. will post -1.2 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pacific Sage Partners LLC acquired a new stake in shares of Plug Power during the 4th quarter worth $25,000. Profund Advisors LLC acquired a new stake in shares of Plug Power during the 2nd quarter worth $29,000. Prio Wealth Limited Partnership acquired a new stake in shares of Plug Power during the 3rd quarter worth $29,000. Catalyst Capital Advisors LLC grew its holdings in shares of Plug Power by 79.9% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 12,681 shares of the electronics maker’s stock worth $29,000 after purchasing an additional 5,631 shares in the last quarter. Finally, First Commonwealth Financial Corp PA acquired a new stake in shares of Plug Power during the 3rd quarter worth $29,000. 43.48% of the stock is 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.