Plug Power (NASDAQ:PLUG) Stock Price Down 3.1% – Should You Sell?

Plug Power, Inc. (NASDAQ:PLUG) shares fell 3.1% on Friday . The stock traded as low as $1.09 and last traded at $1.11. 22,506,519 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 91,820,852 shares. The stock had previously closed at $1.14.

Analyst Ratings Changes

Several research firms recently weighed in on PLUG. Jefferies Financial Group reduced their target price on Plug Power from $1.70 to $0.90 and set a “hold” rating for the company in a report on Tuesday, May 20th. Morgan Stanley reduced their target price on Plug Power from $1.25 to $0.50 and set an “underweight” rating for the company in a report on Monday, May 19th. Canaccord Genuity Group reduced their target price on Plug Power from $1.25 to $1.00 and set a “hold” rating for the company in a report on Tuesday, May 13th. Roth Capital restated a “buy” rating on shares of Plug Power in a report on Tuesday, May 13th. Finally, Wall Street Zen upgraded Plug Power to a “sell” rating in a report on Tuesday, May 13th. Five analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $1.83.

Plug Power Stock Down 2.6%

The business has a 50 day moving average of $0.93 and a 200 day moving average of $1.59. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.95 and a quick ratio of 1.07. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of -0.45 and a beta of 2.17.

Plug Power (NASDAQ:PLUG) last issued its earnings results on Monday, May 12th. The electronics maker reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). The firm had revenue of $133.67 million during the quarter, compared to analyst estimates of $130.92 million. Plug Power had a negative net margin of 312.29% and a negative return on equity of 82.21%. On average, equities analysts anticipate that Plug Power, Inc. will post -1.21 EPS for the current year.

Insider Activity at Plug Power

In related news, CFO Paul B. Middleton purchased 350,000 shares of the stock in a transaction on Friday, May 16th. The shares were purchased at an average cost of $0.72 per share, for a total transaction of $252,000.00. Following the completion of the transaction, the chief financial officer now directly owns 1,908,064 shares of the company’s stock, valued at approximately $1,373,806.08. The trade was a 22.46% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.41% of the stock is currently owned by corporate insiders.

Institutional Trading of Plug Power

Large investors have recently bought and sold shares of the stock. Oppenheimer & Co. Inc. bought a new stake in Plug Power in the fourth quarter valued at $25,000. Jones Financial Companies Lllp grew its position in Plug Power by 107.4% in the fourth quarter. Jones Financial Companies Lllp now owns 11,730 shares of the electronics maker’s stock valued at $25,000 after acquiring an additional 6,074 shares during the period. Callan Family Office LLC bought a new stake in Plug Power in the fourth quarter valued at $27,000. Ground Swell Capital LLC bought a new stake in Plug Power in the fourth quarter valued at $27,000. Finally, Strategic Investment Solutions Inc. IL grew its position in Plug Power by 1,182.4% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 14,696 shares of the electronics maker’s stock valued at $31,000 after acquiring an additional 13,550 shares during the period. 43.48% of the stock is currently owned by institutional investors.

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.