Plug Power (NASDAQ:PLUG) Trading Down 11.2% – Time to Sell?

Plug Power, Inc. (NASDAQ:PLUG)’s share price traded down 11.2% during mid-day trading on Wednesday . The stock traded as low as $1.70 and last traded at $1.90. 218,147,965 shares were traded during mid-day trading, an increase of 125% from the average session volume of 96,799,383 shares. The stock had previously closed at $2.14.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Hsbc Global Res raised shares of Plug Power to a “strong-buy” rating in a research report on Thursday, October 9th. Susquehanna cut their target price on Plug Power from $3.50 to $2.50 and set a “neutral” rating on the stock in a research note on Monday. BMO Capital Markets reduced their target price on Plug Power from $1.10 to $1.00 and set an “underperform” rating for the company in a report on Tuesday, August 12th. HC Wainwright boosted their price target on Plug Power from $3.00 to $7.00 and gave the stock a “buy” rating in a research note on Friday, October 3rd. Finally, Wall Street Zen cut Plug Power from a “hold” rating to a “sell” rating in a research report on Sunday, November 16th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have issued a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $2.42.

Plug Power Trading Up 4.8%

The company has a current ratio of 1.59, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $2.29 billion, a PE ratio of -0.86 and a beta of 2.28. The stock has a 50 day moving average price of $2.77 and a 200-day moving average price of $1.83.

Plug Power (NASDAQ:PLUG) last released its quarterly earnings results on Monday, November 10th. The electronics maker reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.01. Plug Power had a negative return on equity of 90.22% and a negative net margin of 292.84%.The business had revenue of $177.06 million during the quarter, compared to the consensus estimate of $185.41 million. Plug Power has set its FY 2025 guidance at EPS. Sell-side analysts expect that Plug Power, Inc. will post -1.21 earnings per share for the current year.

Insider Buying and Selling at Plug Power

In other news, EVP Benjamin Haycraft sold 10,000 shares of Plug Power stock in a transaction on Monday, November 10th. The shares were sold at an average price of $2.92, for a total transaction of $29,200.00. Following the transaction, the executive vice president owned 467,583 shares in the company, valued at $1,365,342.36. This trade represents a 2.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.41% of the stock is owned by corporate insiders.

Institutional Trading of Plug Power

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Kovack Advisors Inc. purchased a new position in shares of Plug Power during the 3rd quarter valued at about $26,000. Sender Co & Partners Inc. bought a new stake in Plug Power during the 2nd quarter worth approximately $26,000. Yousif Capital Management LLC purchased a new position in Plug Power during the third quarter valued at approximately $27,000. Prakash Investment Advisors LLC bought a new position in shares of Plug Power in the third quarter worth approximately $27,000. Finally, Baader Bank Aktiengesellschaft bought a new position in shares of Plug Power in the first quarter worth approximately $28,000. Hedge funds and other 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.