Plug Power (NASDAQ:PLUG) Shares Down 3.8% – Time to Sell?

Shares of Plug Power Inc. (NASDAQ:PLUG) traded down 3.8% on Tuesday . The company traded as low as $1.62 and last traded at $1.66. 23,600,079 shares were traded during trading, a decline of 67% from the average session volume of 72,023,836 shares. The stock had previously closed at $1.72.

Analyst Ratings Changes

Several brokerages have recently commented on PLUG. Susquehanna increased their target price on Plug Power from $2.00 to $2.50 and gave the stock a “neutral” rating in a report on Thursday, January 16th. Evercore ISI decreased their price objective on Plug Power from $5.00 to $4.00 and set an “outperform” rating for the company in a research note on Wednesday, November 13th. Canaccord Genuity Group cut their target price on shares of Plug Power from $2.50 to $2.25 and set a “hold” rating on the stock in a report on Wednesday, November 13th. Craig Hallum lowered their price target on Plug Power from $4.00 to $3.00 and set a “buy” rating for the company in a report on Thursday, November 14th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $18.00 target price on shares of Plug Power in a research note on Wednesday, November 13th. Five research analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $4.12.

Plug Power Stock Down 5.5 %

The firm has a market cap of $1.48 billion, a P/E ratio of -0.76 and a beta of 1.79. The firm’s fifty day moving average is $2.32 and its 200 day moving average is $2.16. 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) earnings per share 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 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%. Plug Power’s revenue for the quarter was down 12.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.47) EPS. As a group, equities research analysts anticipate that Plug Power Inc. will post -1.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS acquired a new position in shares of Plug Power during the fourth quarter worth approximately $320,000. Sei Investments Co. grew its position in Plug Power by 127.5% during the fourth quarter. Sei Investments Co. now owns 74,442 shares of the electronics maker’s stock valued at $159,000 after buying an additional 41,725 shares during the period. American Century Companies Inc. increased its holdings in Plug Power by 21.0% during the fourth quarter. American Century Companies Inc. now owns 879,373 shares of the electronics maker’s stock worth $1,873,000 after buying an additional 152,458 shares during the last quarter. Virtu Financial LLC purchased a new position in Plug Power in the fourth quarter valued at about $172,000. Finally, Xponance Inc. grew its position in shares of Plug Power by 17.0% during the 4th quarter. Xponance Inc. now owns 57,264 shares of the electronics maker’s stock valued at $122,000 after acquiring an additional 8,313 shares during the period. Institutional investors own 43.48% of the company’s stock.

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.