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

Shares of Plug Power, Inc. (NASDAQ:PLUG) were down 4.1% on Friday . The stock traded as low as $3.85 and last traded at $3.95. Approximately 67,652,281 shares changed hands during trading, a decline of 24% from the average daily volume of 89,301,969 shares. The stock had previously closed at $4.12.

Analysts Set New Price Targets

Several research analysts have recently weighed in on PLUG shares. BTIG Research reaffirmed a “neutral” rating on shares of Plug Power in a research note on Tuesday, March 3rd. Jefferies Financial Group reduced their target price on Plug Power from $2.00 to $1.80 and set a “hold” rating for the company in a research note on Monday, March 9th. Oppenheimer reaffirmed a “market perform” rating on shares of Plug Power in a research note on Tuesday, March 3rd. Susquehanna upped their target price on Plug Power from $2.75 to $3.75 and gave the stock a “neutral” rating in a research note on Wednesday, May 13th. Finally, TD Cowen upped their target price on Plug Power from $2.00 to $3.00 and gave the stock a “hold” rating in a research note on Tuesday, May 12th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Plug Power presently has an average rating of “Hold” and a consensus target price of $3.42.

Plug Power Price Performance

The company has a debt-to-equity ratio of 0.89, a current ratio of 2.36 and a quick ratio of 1.40. The stock has a 50 day moving average price of $3.02 and a 200-day moving average price of $2.46. The stock has a market capitalization of $5.51 billion, a price-to-earnings ratio of -2.99 and a beta of 2.06.

Plug Power (NASDAQ:PLUG) last issued its quarterly earnings results on Monday, May 11th. The electronics maker reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01. The firm had revenue of $163.51 million for the quarter, compared to analyst estimates of $139.87 million. Plug Power had a negative return on equity of 49.30% and a negative net margin of 227.13%.The business’s revenue was up 22.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.21) earnings per share. On average, analysts forecast that Plug Power, Inc. will post -0.26 earnings per share for the current year.

Institutional Trading of Plug Power

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Plug Power by 18.2% during the fourth quarter. Vanguard Group Inc. now owns 129,599,295 shares of the electronics maker’s stock worth $255,311,000 after buying an additional 19,967,339 shares during the last quarter. SG Americas Securities LLC boosted its stake in Plug Power by 208.6% during the fourth quarter. SG Americas Securities LLC now owns 1,119,191 shares of the electronics maker’s stock worth $2,205,000 after buying an additional 756,510 shares during the last quarter. Leonteq Securities AG acquired a new position in Plug Power during the fourth quarter worth $734,000. Prescott Group Capital Management L.L.C. acquired a new position in Plug Power during the fourth quarter worth $1,202,000. Finally, Handelsbanken Fonder AB acquired a new position in Plug Power during the fourth quarter worth $3,915,000. 43.48% of the stock is owned by institutional investors and hedge funds.

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.