Plug Power (NASDAQ:PLUG) Trading Down 1.4% – Time to Sell?

Plug Power, Inc. (NASDAQ:PLUG) traded down 1.4% on Friday . The stock traded as low as $2.03 and last traded at $2.07. 54,690,410 shares traded hands during trading, a decline of 43% from the average session volume of 96,640,445 shares. The stock had previously closed at $2.10.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PLUG shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Plug Power in a research note on Wednesday, October 8th. Wall Street Zen downgraded shares of Plug Power from a “hold” rating to a “sell” rating in a research report on Sunday, November 16th. HSBC set a $4.40 price objective on shares of Plug Power in a research report on Thursday, October 9th. HC Wainwright reissued a “buy” rating and issued a $7.00 target price on shares of Plug Power in a report on Monday, November 24th. Finally, Cowen reaffirmed a “buy” rating on shares of Plug Power in a report 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 given a Hold rating and six have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $2.80.

Plug Power Stock Performance

The stock has a fifty day moving average of $2.39 and a 200-day moving average of $2.04. The company has a quick ratio of 0.70, a current ratio of 1.32 and a debt-to-equity ratio of 0.24. The stock has a market cap of $2.88 billion, a PE ratio of -0.87 and a beta of 1.74.

Plug Power (NASDAQ:PLUG) last announced its earnings results on Monday, November 10th. The electronics maker reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.01. The company had revenue of $177.06 million for the quarter, compared to the consensus estimate of $185.41 million. Plug Power had a negative return on equity of 105.98% and a negative net margin of 313.69%. On average, equities analysts forecast that Plug Power, Inc. will post -1.21 EPS for the current year.

Insiders Place Their Bets

In other news, insider Jose Luis Crespo acquired 37,300 shares of the business’s stock in a transaction on Monday, December 15th. The stock was bought at an average price of $2.34 per share, for a total transaction of $87,282.00. Following the transaction, the insider owned 307,332 shares in the company, valued at $719,156.88. This represents a 13.81% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Benjamin Haycraft sold 40,000 shares of Plug Power stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $2.20, for a total transaction of $88,000.00. Following the completion of the sale, the insider directly owned 373,809 shares in the company, valued at approximately $822,379.80. The trade was a 9.67% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 60,000 shares of company stock valued at $155,200. 0.56% of the stock is owned by insiders.

Hedge Funds Weigh In On Plug Power

A number of large investors have recently modified their holdings of PLUG. Kovack Advisors Inc. acquired a new stake in shares of Plug Power in the 3rd quarter valued at approximately $26,000. Sender Co & Partners Inc. acquired a new stake in Plug Power in the second quarter valued at $26,000. Yousif Capital Management LLC purchased a new stake in shares of Plug Power during the 3rd quarter worth $27,000. Prakash Investment Advisors LLC acquired a new position in shares of Plug Power during the 3rd quarter worth $27,000. Finally, O ROURKE & COMPANY Inc purchased a new position in shares of Plug Power in the 2nd quarter valued at about $30,000. 43.48% of the stock is owned by hedge funds and other institutional investors.

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.