Plug Power (NASDAQ:PLUG) Shares Down 2.6% – Time to Sell?

Shares of Plug Power Inc. (NASDAQ:PLUG) traded down 2.6% during trading on Thursday . The company traded as low as $2.55 and last traded at $2.64. 52,953,341 shares traded hands during trading, a decline of 33% from the average session volume of 78,753,039 shares. The stock had previously closed at $2.71.

Analyst Ratings Changes

Several analysts have recently weighed in on PLUG shares. 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. Susquehanna upped their price target on shares of Plug Power from $2.00 to $2.50 and gave the company a “neutral” rating in a research report on Thursday. Jefferies Financial Group cut their price target on shares of Plug Power from $2.20 to $2.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Wells Fargo & Company lowered their target price on Plug Power from $3.00 to $2.00 and set an “equal weight” rating for the company in a research report on Thursday, November 14th. Finally, Craig Hallum reduced their price target on Plug Power from $4.00 to $3.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Plug Power has a consensus rating of “Hold” and an average target price of $4.55.

Plug Power Price Performance

The company has a debt-to-equity ratio of 0.15, a current ratio of 2.08 and a quick ratio of 0.95. The business’s fifty day moving average price is $2.32 and its 200-day moving average price is $2.25. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of -1.28 and a beta of 1.79.

Plug Power (NASDAQ:PLUG) last posted its quarterly earnings data on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. The firm had revenue of $173.70 million for the quarter, compared to analysts’ expectations of $207.25 million. During the same period in the prior year, the firm earned ($0.47) earnings per share. Plug Power’s revenue was down 12.6% compared to the same quarter last year. On average, research analysts forecast that Plug Power Inc. will post -1.2 EPS for the current year.

Institutional Investors Weigh In On Plug Power

A number of hedge funds have recently made changes to their positions in PLUG. Arkadios Wealth Advisors raised its stake in Plug Power by 88.0% in the 4th quarter. Arkadios Wealth Advisors now owns 62,082 shares of the electronics maker’s stock valued at $132,000 after acquiring an additional 29,062 shares during the period. Kieckhefer Group LLC bought a new stake in Plug Power during the 4th quarter valued at $138,000. Sanctuary Advisors LLC bought a new position in shares of Plug Power in the third quarter worth $206,000. Arete Wealth Advisors LLC grew its position in shares of Plug Power by 575.8% in the third quarter. Arete Wealth Advisors LLC now owns 147,117 shares of the electronics maker’s stock valued at $332,000 after purchasing an additional 125,347 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Plug Power by 23.6% during the 3rd quarter. Geode Capital Management LLC now owns 19,194,629 shares of the electronics maker’s stock valued at $43,388,000 after purchasing an additional 3,662,456 shares during the period. 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.