Plug Power (NASDAQ:PLUG) Shares Down 4.1% – Time to Sell?

Plug Power, Inc. (NASDAQ:PLUG) shares dropped 4.1% on Tuesday . The stock traded as low as $3.21 and last traded at $3.31. Approximately 45,203,402 shares traded hands during trading, a decline of 49% from the average daily volume of 89,249,781 shares. The stock had previously closed at $3.45.

Analyst Upgrades and Downgrades

PLUG has been the topic of several analyst reports. Susquehanna upped their price target on Plug Power from $2.75 to $3.75 and gave the company a “neutral” rating in a research report on Wednesday, May 13th. TD Cowen upped their price target on Plug Power from $2.00 to $3.00 and gave the company a “hold” rating in a research report on Tuesday, May 12th. BTIG Research reiterated a “neutral” rating on shares of Plug Power in a research report on Tuesday, March 3rd. Oppenheimer reiterated a “market perform” rating on shares of Plug Power in a research report on Tuesday, March 3rd. Finally, BMO Capital Markets upped their price target on Plug Power from $1.00 to $1.20 and gave the company an “underperform” rating in a research report on Tuesday, May 12th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $3.42.

Plug Power Stock Performance

The company has a quick ratio of 1.40, a current ratio of 2.36 and a debt-to-equity ratio of 0.89. The company’s 50-day moving average is $2.85 and its two-hundred day moving average is $2.41. The company has a market capitalization of $5.27 billion, a P/E ratio of -2.86 and a beta of 2.06.

Plug Power (NASDAQ:PLUG) last posted its quarterly earnings data on Monday, May 11th. The electronics maker reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.01. The company had revenue of $163.51 million for the quarter, compared to analysts’ expectations of $139.87 million. Plug Power had a negative net margin of 227.13% and a negative return on equity of 49.30%. Plug Power’s revenue for the quarter was up 22.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.21) earnings per share. Equities analysts anticipate that Plug Power, Inc. will post -0.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Plug Power by 12.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,607,153 shares of the electronics maker’s stock worth $3,520,000 after buying an additional 297,754 shares in the last quarter. Focus Partners Wealth purchased a new stake in Plug Power in the first quarter worth approximately $37,000. JPMorgan Chase & Co. boosted its stake in Plug Power by 6.8% in the second quarter. JPMorgan Chase & Co. now owns 1,504,744 shares of the electronics maker’s stock worth $2,242,000 after buying an additional 95,876 shares in the last quarter. Prudential Financial Inc. boosted its stake in Plug Power by 87.2% in the second quarter. Prudential Financial Inc. now owns 111,945 shares of the electronics maker’s stock worth $167,000 after buying an additional 52,135 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in Plug Power by 24.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 73,084 shares of the electronics maker’s stock worth $109,000 after buying an additional 14,471 shares in the last quarter. 43.48% of the stock is currently owned by institutional investors.

About Plug Power

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.