Plug Power (NASDAQ:PLUG) Shares Down 4.1% – Should You Sell?

Plug Power, Inc. (NASDAQ:PLUG) shares fell 4.1% during trading on Monday . The company traded as low as $2.11 and last traded at $2.11. 80,150,470 shares were traded during trading, a decline of 17% from the average session volume of 97,058,711 shares. The stock had previously closed at $2.20.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PLUG. Canaccord Genuity Group set a $7.00 price objective on Plug Power in a research report on Monday, November 24th. HSBC set a $4.40 target price on Plug Power in a research note on Thursday, October 9th. HC Wainwright reiterated a “buy” rating and set a $7.00 price target on shares of Plug Power in a research report on Monday, November 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Plug Power in a research report on Wednesday, October 8th. Finally, Cowen reaffirmed a “buy” rating on shares of Plug Power in a research note on Wednesday, November 19th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, six have issued a Hold rating and six have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $2.80.

Plug Power Price Performance

The stock has a market capitalization of $2.90 billion, a P/E ratio of -0.88 and a beta of 1.74. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.70 and a current ratio of 1.32. The firm has a 50-day moving average price of $2.42 and a 200 day moving average price of $2.04.

Plug Power (NASDAQ:PLUG) last released its earnings results on Monday, November 10th. The electronics maker reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $177.06 million during the quarter, compared to the consensus estimate of $185.41 million. On average, analysts expect that Plug Power, Inc. will post -1.21 EPS for the current year.

Insiders Place Their Bets

In other Plug Power news, insider Benjamin Haycraft sold 40,000 shares of the business’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $2.20, for a total value of $88,000.00. Following the completion of the sale, the insider directly owned 373,809 shares of the company’s stock, valued at $822,379.80. The trade was a 9.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jose Luis Crespo acquired 37,300 shares of Plug Power stock in a transaction dated Monday, December 15th. The shares were bought at an average cost of $2.34 per share, for a total transaction of $87,282.00. Following the completion of the purchase, the insider directly owned 307,332 shares of the company’s stock, valued at approximately $719,156.88. The trade was a 13.81% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 60,000 shares of company stock valued at $155,200 in the last ninety days. 0.56% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Plug Power

A number of hedge funds and other institutional investors have recently modified their holdings of PLUG. Heights Capital Management Inc. bought a new position in Plug Power during the 1st quarter worth approximately $31,174,000. Two Sigma Investments LP boosted its stake in shares of Plug Power by 292.1% during the third quarter. Two Sigma Investments LP now owns 10,830,893 shares of the electronics maker’s stock valued at $25,236,000 after purchasing an additional 8,068,713 shares during the period. Vanguard Group Inc. grew its holdings in shares of Plug Power by 7.6% in the third quarter. Vanguard Group Inc. now owns 109,631,956 shares of the electronics maker’s stock worth $255,442,000 after purchasing an additional 7,789,039 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Plug Power by 59.9% in the second 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 period. Finally, Electron Capital Partners LLC purchased a new position in shares of Plug Power in the third quarter worth $10,663,000. Institutional investors own 43.48% of the company’s stock.

Plug Power Company Profile

Plug Power Inc is a U.S.-based company specializing in the design and manufacture of hydrogen fuel cell systems that serve as clean energy replacements for conventional batteries in electric vehicles and material handling equipment. Its core solutions include ProGen fuel cell engines, GenDrive power systems for forklifts and warehouse vehicles, and GenFuel hydrogen refueling infrastructure. These offerings are sold as standalone components or integrated turnkey solutions under the GenKey brand, providing customers with on-site refueling, equipment installation and maintenance services.

In addition to its fuel cell and refueling products, Plug Power develops backup power and off-grid energy solutions through its GenSure line, which targets telecommunications, data centers and utility applications.