Plug Power (NASDAQ:PLUG) Trading Down 0.4% – Should You Sell?

Plug Power Inc. (NASDAQ:PLUG)’s share price traded down 0.4% on Wednesday . The company traded as low as $2.31 and last traded at $2.42. 31,547,672 shares changed hands during trading, a decline of 27% from the average session volume of 43,509,098 shares. The stock had previously closed at $2.43.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Jefferies Financial Group lowered their price objective on Plug Power from $2.20 to $2.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Evercore ISI lowered their price target on Plug Power from $5.00 to $4.00 and set an “outperform” rating for the company in a report on Wednesday, November 13th. HC Wainwright reiterated a “buy” rating and set a $18.00 price objective on shares of Plug Power in a report on Wednesday, November 13th. Craig Hallum lowered their target price 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. Finally, Canaccord Genuity Group dropped their price target on shares of Plug Power from $2.50 to $2.25 and set a “hold” rating for the company in a research report on Wednesday, November 13th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $4.52.

Plug Power Trading Down 0.4 %

The stock has a market cap of $2.21 billion, a price-to-earnings ratio of -1.13 and a beta of 1.76. The business has a 50 day simple moving average of $2.19 and a two-hundred day simple moving average of $2.25. The company has a current ratio of 2.08, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15.

Plug Power (NASDAQ:PLUG) last announced its quarterly earnings data on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate 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%. The business’s revenue for the quarter was down 12.6% compared to the same quarter last year. During the same quarter last year, the business earned ($0.47) earnings per share. As a group, equities analysts anticipate that Plug Power Inc. will post -1.2 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Nations Financial Group Inc. IA ADV boosted its holdings in shares of Plug Power by 42.3% during the third quarter. Nations Financial Group Inc. IA ADV now owns 15,798 shares of the electronics maker’s stock valued at $36,000 after acquiring an additional 4,700 shares during the period. Arkadios Wealth Advisors lifted its position in Plug Power by 18.2% in the 3rd quarter. Arkadios Wealth Advisors now owns 33,020 shares of the electronics maker’s stock valued at $75,000 after purchasing an additional 5,075 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Plug Power by 0.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 803,881 shares of the electronics maker’s stock valued at $1,817,000 after purchasing an additional 5,485 shares during the period. Catalyst Capital Advisors LLC raised its holdings in shares of Plug Power by 79.9% during the third quarter. Catalyst Capital Advisors LLC now owns 12,681 shares of the electronics maker’s stock valued at $29,000 after buying an additional 5,631 shares during the last quarter. Finally, Millburn Ridgefield Corp boosted its position in shares of Plug Power by 79.9% during the third quarter. Millburn Ridgefield Corp now owns 12,681 shares of the electronics maker’s stock worth $29,000 after buying an additional 5,631 shares during the period. 43.48% of the stock is currently owned by institutional investors.

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.