Plug Power (NASDAQ:PLUG) Trading Down 1.8% – Time to Sell?

Plug Power Inc. (NASDAQ:PLUG)’s stock price was down 1.8% during mid-day trading on Tuesday . The company traded as low as $1.88 and last traded at $1.92. Approximately 23,320,422 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 78,104,461 shares. The stock had previously closed at $1.95.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on PLUG shares. Craig Hallum reduced their price objective on shares of Plug Power from $4.00 to $3.00 and set a “buy” rating for the company in a report on Thursday, November 14th. HC Wainwright reiterated a “buy” rating and issued a $18.00 price objective on shares of Plug Power in a report on Wednesday, November 13th. BTIG Research downgraded Plug Power from a “buy” rating to a “neutral” rating in a research report on Thursday, November 14th. Canaccord Genuity Group lowered their price objective on Plug Power from $2.50 to $2.25 and set a “hold” rating on the stock in a research report on Wednesday, November 13th. Finally, Piper Sandler dropped their target price on shares of Plug Power from $1.60 to $1.40 and set an “underweight” rating for the company in a research 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 given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $4.46.

Plug Power Trading Up 2.1 %

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 firm has a market capitalization of $1.75 billion, a PE ratio of -0.90 and a beta of 1.79. The stock’s 50-day moving average price is $2.36 and its 200 day moving average price is $2.22.

Plug Power (NASDAQ:PLUG) last announced its quarterly earnings data 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 firm had revenue of $173.70 million during the quarter, compared to analyst estimates of $207.25 million. During the same period in the prior year, the company posted ($0.47) earnings per share. The firm’s revenue for the quarter was down 12.6% on a year-over-year basis. On average, sell-side analysts expect that Plug Power Inc. will post -1.2 EPS for the current fiscal year.

Institutional Trading of Plug Power

Several institutional investors have recently added to or reduced their stakes in the stock. Pacific Sage Partners LLC acquired a new position in shares of Plug Power in the 4th quarter valued at $25,000. Prio Wealth Limited Partnership acquired a new position in Plug Power during the third quarter worth about $29,000. Catalyst Capital Advisors LLC lifted its position in shares of Plug Power by 79.9% in the third quarter. Catalyst Capital Advisors LLC now owns 12,681 shares of the electronics maker’s stock valued at $29,000 after acquiring an additional 5,631 shares in the last quarter. Millburn Ridgefield Corp raised its holdings in Plug Power by 79.9% in the 3rd quarter. Millburn Ridgefield Corp now owns 12,681 shares of the electronics maker’s stock valued at $29,000 after acquiring an additional 5,631 shares during the last quarter. Finally, First Commonwealth Financial Corp PA purchased a new stake in Plug Power in the third quarter valued at approximately $29,000. Institutional investors and hedge funds own 43.48% of the company’s stock.

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.