Plug Power (NASDAQ:PLUG) Trading Down 5.4% – Should You Sell?

Shares of Plug Power Inc. (NASDAQ:PLUG) traded down 5.4% on Wednesday . The stock traded as low as $1.86 and last traded at $1.86. 24,794,399 shares were traded during trading, a decline of 68% from the average session volume of 77,918,836 shares. The stock had previously closed at $1.96.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Wells Fargo & Company dropped their price objective 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. StockNews.com upgraded Plug Power to a “sell” rating in a research report on Wednesday, January 22nd. Seaport Res Ptn downgraded Plug Power from a “hold” rating to a “strong sell” rating in a research report on Monday. Craig Hallum dropped their target price on Plug Power from $4.00 to $3.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Finally, Jefferies Financial Group dropped their target price 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. Five research analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $4.46.

Plug Power Stock Down 3.8 %

The firm has a 50 day moving average of $2.36 and a 200 day moving average of $2.22. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of -0.88 and a beta of 1.79. The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15.

Plug Power (NASDAQ:PLUG) last released its earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) EPS for the quarter, missing the consensus estimate 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 business had revenue of $173.70 million for the quarter, compared to analyst estimates of $207.25 million. During the same period in the prior year, the business earned ($0.47) EPS. The company’s revenue for the quarter was down 12.6% on a year-over-year basis. As a group, sell-side analysts predict that Plug Power Inc. will post -1.2 earnings per share for the current year.

Institutional Investors Weigh In On Plug Power

Hedge funds have recently added to or reduced their stakes in the company. Pacific Sage Partners LLC acquired a new stake in Plug Power in the fourth quarter valued at approximately $25,000. Profund Advisors LLC purchased a new position in shares of Plug Power during the second quarter valued at approximately $29,000. Prio Wealth Limited Partnership purchased a new position in shares of Plug Power during the third quarter valued at approximately $29,000. Catalyst Capital Advisors LLC boosted its position 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, First Commonwealth Financial Corp PA purchased a new position in shares of Plug Power during 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.