Plug Power (NASDAQ:PLUG) Trading Down 7.1% – Should You Sell?

Plug Power, Inc. (NASDAQ:PLUG)’s share price was down 7.1% during mid-day trading on Wednesday . The stock traded as low as $2.14 and last traded at $2.1450. Approximately 78,241,991 shares were traded during trading, a decline of 19% from the average daily volume of 96,697,938 shares. The stock had previously closed at $2.31.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PLUG shares. Wall Street Zen lowered shares of Plug Power from a “hold” rating to a “sell” rating in a research report on Sunday, November 16th. Susquehanna decreased their target price on Plug Power from $3.50 to $2.50 and set a “neutral” rating on the stock in a research note on Monday, November 17th. Hsbc Global Res raised Plug Power to a “strong-buy” rating in a report on Thursday, October 9th. HSBC set a $4.40 price target on Plug Power in a research report on Thursday, October 9th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Plug Power in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have given a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $2.73.

Plug Power Price Performance

The stock has a market capitalization of $3.09 billion, a P/E ratio of -0.94 and a beta of 1.68. 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 $2.17 and a 200 day moving average price of $2.18.

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

Insider Transactions at Plug Power

In other news, insider Benjamin Haycraft sold 40,000 shares of the business’s stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $2.17, for a total value of $86,800.00. Following the completion of the sale, the insider owned 333,809 shares of the company’s stock, valued at approximately $724,365.53. The trade was a 10.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jose Luis Crespo purchased 37,300 shares of Plug Power stock in a transaction that occurred on Monday, December 15th. The shares were bought at an average price of $2.34 per share, for a total transaction of $87,282.00. Following the completion of the transaction, the insider owned 307,332 shares in the company, valued at $719,156.88. The trade was a 13.81% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders sold 90,000 shares of company stock valued at $204,000. 0.56% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Plug Power

Several institutional investors have recently added to or reduced their stakes in PLUG. Vanguard Group Inc. boosted its position in Plug Power by 7.6% during the 3rd quarter. Vanguard Group Inc. now owns 109,631,956 shares of the electronics maker’s stock valued at $255,442,000 after acquiring an additional 7,789,039 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Plug Power by 14.9% in the 2nd quarter. Geode Capital Management LLC now owns 24,071,904 shares of the electronics maker’s stock valued at $35,872,000 after purchasing an additional 3,125,542 shares during the period. Legal & General Group Plc lifted its stake in shares of Plug Power by 4.2% in the 3rd quarter. Legal & General Group Plc now owns 17,695,077 shares of the electronics maker’s stock valued at $41,230,000 after purchasing an additional 714,212 shares during the period. Two Sigma Investments LP boosted its position 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 in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Plug Power by 18.9% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,545,805 shares of the electronics maker’s stock worth $22,179,000 after purchasing an additional 1,518,724 shares during the period. Hedge funds and other 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.