Plug Power (NASDAQ:PLUG) Stock Price Down 1.7% – Should You Sell?

by · The Cerbat Gem

Plug Power, Inc. (NASDAQ:PLUG – Get Free Report)’s share price traded down 1.7% during mid-day trading on Friday . The stock traded as low as $2.30 and last traded at $2.32. 114,061,634 shares were traded during mid-day trading, an increase of 18% from the average session volume of 96,887,594 shares. The stock had previously closed at $2.36.

Analysts Set New Price Targets

PLUG has been the topic of a number of research analyst reports. Susquehanna dropped their target price on shares of Plug Power from $3.50 to $2.50 and set a “neutral” rating on the stock in a research note on Monday, November 17th. HC Wainwright reissued a “buy” rating and issued a $7.00 price objective on shares of Plug Power in a research note on Monday, November 24th. Wells Fargo & Company raised their price objective on Plug Power from $1.00 to $1.50 and gave the stock an “equal weight” rating in a report on Thursday, August 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Plug Power in a report on Wednesday, October 8th. Finally, HSBC set a $4.40 price target on Plug Power in a research report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have assigned a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat, Plug Power currently has a consensus rating of “Hold” and an average price target of $2.80.

Read Our Latest Research Report on Plug Power

Plug Power Price Performance

The firm has a 50-day simple moving average of $2.71 and a 200-day simple moving average of $1.95. The firm has a market cap of $3.23 billion, a P/E ratio of -0.98 and a beta of 1.74. The company has a current ratio of 1.32, a quick ratio of 0.70 and a debt-to-equity ratio of 0.24.

Plug Power (NASDAQ:PLUG – Get Free Report) last released its quarterly earnings results on Monday, November 10th. The electronics maker reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.01. Plug Power had a negative return on equity of 105.98% and a negative net margin of 313.69%.The firm had revenue of $177.06 million during the quarter, compared to analyst estimates of $185.41 million. As a group, analysts forecast that Plug Power, Inc. will post -1.21 EPS for the current year.

Insider Activity at Plug Power

In other news, EVP Benjamin Haycraft sold 10,000 shares of the firm’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $2.92, for a total value of $29,200.00. Following the sale, the executive vice president directly owned 467,583 shares in the company, valued at approximately $1,365,342.36. This trade represents a 2.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.41% of the company’s stock.

Institutional Investors Weigh In On Plug Power

A number of hedge funds and other institutional investors have recently bought and sold shares of PLUG. Heights Capital Management Inc. purchased a new position in shares of Plug Power in the first quarter worth about $31,174,000. Two Sigma Investments LP increased its holdings in Plug Power by 292.1% in the 3rd quarter. Two Sigma Investments LP now owns 10,830,893 shares of the electronics maker’s stock worth $25,236,000 after buying an additional 8,068,713 shares during the period. Vanguard Group Inc. increased its holdings in Plug Power by 7.6% in the 3rd quarter. Vanguard Group Inc. now owns 109,631,956 shares of the electronics maker’s stock worth $255,442,000 after buying an additional 7,789,039 shares during the period. Legal & General Group Plc raised its position in Plug Power by 59.9% during the 2nd quarter. Legal & General Group Plc now owns 16,980,865 shares of the electronics maker’s stock worth $25,301,000 after buying an additional 6,364,483 shares during the last quarter. Finally, Electron Capital Partners LLC acquired a new stake in Plug Power during the 3rd quarter valued at approximately $10,663,000. Hedge funds and other institutional investors own 43.48% of the company’s stock.

Plug Power Company Profile

(Get Free Report)

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.

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