Plug Power (NASDAQ:PLUG) Reaches New 12-Month Low – Time to Sell?

Plug Power, Inc. (NASDAQ:PLUG)’s stock price reached a new 52-week low during mid-day trading on Friday. The stock traded as low as $1.69 and last traded at $1.7150, with a volume of 3411562 shares. The stock had previously closed at $1.73.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Oppenheimer reaffirmed a “market perform” rating on shares of Plug Power in a report on Tuesday, August 11th. Susquehanna dropped their target price on Plug Power from $3.75 to $2.50 and set a “neutral” rating for the company in a report on Friday, July 10th. Wall Street Zen downgraded Plug Power from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 3rd. Weiss Ratings lowered Plug Power from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, July 28th. Finally, UBS Group reiterated a “buy” rating and set a $5.00 target price on shares of Plug Power in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $3.51.

Plug Power Price Performance

The company has a current ratio of 2.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.29. The stock has a market capitalization of $2.44 billion, a P/E ratio of -1.38 and a beta of 2.28. The company has a fifty day simple moving average of $2.10 and a two-hundred day simple moving average of $2.59.

Plug Power (NASDAQ:PLUG) last issued its quarterly earnings results on Monday, August 10th. The electronics maker reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.01. Plug Power had a negative net margin of 220.59% and a negative return on equity of 56.01%. The company had revenue of $178.30 million during the quarter, compared to analysts’ expectations of $169.11 million. The company’s quarterly revenue was up 2.5% on a year-over-year basis. Sell-side analysts expect that Plug Power, Inc. will post -0.26 EPS for the current fiscal year.

Insider Activity at Plug Power

In related news, insider Benjamin Haycraft sold 200,000 shares of the stock in a transaction that occurred on Friday, September 18th. The shares were sold at an average price of $2.14, for a total value of $428,000.00. Following the sale, the insider directly owned 101,249 shares in the company, valued at $216,672.86. This trade represents a 66.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 232,560 shares of company stock valued at $496,178. Corporate insiders own 1.37% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Kestra Advisory Services LLC grew its stake in shares of Plug Power by 11.8% during the 1st quarter. Kestra Advisory Services LLC now owns 43,007 shares of the electronics maker’s stock worth $97,000 after acquiring an additional 4,525 shares in the last quarter. Earned Wealth Advisors LLC boosted its position in Plug Power by 12.6% during the first quarter. Earned Wealth Advisors LLC now owns 44,061 shares of the electronics maker’s stock worth $100,000 after purchasing an additional 4,923 shares during the period. GTS Securities LLC raised its holdings in Plug Power by 18.9% in the 2nd quarter. GTS Securities LLC now owns 32,330 shares of the electronics maker’s stock valued at $88,000 after acquiring an additional 5,135 shares during the period. Abel Hall LLC increased its stake in shares of Plug Power by 9.2% during the first quarter. Abel Hall LLC now owns 62,213 shares of the electronics maker’s stock worth $141,000 after purchasing an additional 5,223 shares during the period. Finally, Wealthfront Advisers LLC lifted its holdings in shares of Plug Power by 8.2% during the first quarter. Wealthfront Advisers LLC now owns 69,709 shares of the electronics maker’s stock worth $158,000 after buying an additional 5,283 shares in the last quarter. Institutional investors and hedge funds own 43.48% of the company’s stock.

About Plug Power

Plug Power Inc is a clean-energy technology company that develops and supplies hydrogen and fuel-cell solutions. Its products include fuel-cell systems and engines for material-handling equipment, backup and stationary power, and other commercial and industrial applications. The company also provides electrolyzers for producing hydrogen, along with hydrogen generation, liquefaction, storage, and delivery services.

Plug Power serves customers in material handling, transportation, power generation, and industrial markets.