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

Plug Power, Inc. (NASDAQ:PLUG) dropped 4.1% on Friday . The company traded as low as $3.85 and last traded at $3.95. Approximately 67,652,281 shares traded 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.

Wall Street Analyst Weigh In

PLUG has been the topic of a number of recent research reports. Susquehanna boosted their price objective on Plug Power from $2.75 to $3.75 and gave the stock a “neutral” rating in a research note on Wednesday, May 13th. HC Wainwright restated a “buy” rating and issued a $7.00 target price on shares of Plug Power in a research report on Tuesday, March 3rd. Oppenheimer restated a “market perform” rating on shares of Plug Power in a research report on Tuesday, March 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Plug Power in a research report on Tuesday, April 21st. Finally, B. Riley Financial lifted their target price on Plug Power from $3.00 to $5.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Two investment 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 given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $3.42.

Plug Power Price 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 has a market cap of $5.51 billion, a PE ratio of -2.99 and a beta of 2.06. The stock has a 50-day simple moving average of $3.02 and a 200 day simple moving average of $2.46.

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

Institutional Investors Weigh In On Plug Power

Several institutional investors and hedge funds have recently modified their holdings of the company. Profund Advisors LLC boosted its holdings in shares of Plug Power by 24.4% during the third quarter. Profund Advisors LLC now owns 20,188 shares of the electronics maker’s stock worth $47,000 after purchasing an additional 3,961 shares during the last quarter. SlateStone Wealth LLC boosted its holdings in Plug Power by 16.0% in the third quarter. SlateStone Wealth LLC now owns 29,077 shares of the electronics maker’s stock valued at $68,000 after acquiring an additional 4,000 shares during the last quarter. Kestra Advisory Services LLC boosted its holdings in Plug Power by 11.8% in the first quarter. Kestra Advisory Services LLC now owns 43,007 shares of the electronics maker’s stock valued at $97,000 after acquiring an additional 4,525 shares during the last quarter. Signature Estate & Investment Advisors LLC boosted its holdings in Plug Power by 33.4% in the third quarter. Signature Estate & Investment Advisors LLC now owns 18,414 shares of the electronics maker’s stock valued at $43,000 after acquiring an additional 4,615 shares during the last quarter. Finally, Earned Wealth Advisors LLC boosted its holdings in Plug Power by 12.6% in the first quarter. Earned Wealth Advisors LLC now owns 44,061 shares of the electronics maker’s stock valued at $100,000 after acquiring an additional 4,923 shares during the last quarter. Hedge funds and other institutional investors own 43.48% of the company’s stock.

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.