Plug Power (NASDAQ:PLUG) Shares Down 0.7% - Should You Sell?

Shares of Plug Power Inc. (NASDAQ:PLUG - Get Free Report) dropped 0.7% during mid-day trading on Friday . The company traded as low as $1.92 and last traded at $1.91. Approximately 15,172,647 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 76,169,750 shares. The stock had previously closed at $1.92.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Piper Sandler dropped their price target on Plug Power from $1.60 to $1.40 and set an "underweight" rating for the company in a research report on Thursday, November 14th. Canaccord Genuity Group dropped their price objective on Plug Power from $2.50 to $2.25 and set a "hold" rating for the company in a research report on Wednesday, November 13th. BTIG Research downgraded shares of Plug Power from a "buy" rating to a "neutral" rating in a research note on Thursday, November 14th. Evercore ISI decreased their price target on shares of Plug Power from $5.00 to $4.00 and set an "outperform" rating on the stock in a research note on Wednesday, November 13th. Finally, Seaport Res Ptn lowered shares of Plug Power from a "hold" rating to a "strong sell" rating in a research report on Monday, January 27th. Five research analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $4.18.

Plug Power Price Performance

The company has a current ratio of 2.08, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of -0.87 and a beta of 1.79. The firm has a 50 day moving average price of $2.36 and a two-hundred day moving average price of $2.19.

Plug Power (NASDAQ:PLUG - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.01). Plug Power had a negative net margin of 214.05% and a negative return on equity of 46.99%. The business had revenue of $173.70 million for the quarter, compared to analyst estimates of $207.25 million. During the same period last year, the firm earned ($0.47) earnings per share. The company's quarterly revenue was down 12.6% on a year-over-year basis. On average, equities analysts expect that Plug Power Inc. will post -1.21 earnings per share for the current fiscal year.

Institutional Trading of Plug Power

Large investors have recently added to or reduced their stakes in the stock. Nations Financial Group Inc. IA ADV lifted its stake in shares of Plug Power by 42.3% during the third quarter. Nations Financial Group Inc. IA ADV now owns 15,798 shares of the electronics maker's stock worth $36,000 after purchasing an additional 4,700 shares in the last quarter. Arkadios Wealth Advisors lifted its position in Plug Power by 18.2% during the 3rd quarter. Arkadios Wealth Advisors now owns 33,020 shares of the electronics maker's stock worth $75,000 after acquiring an additional 5,075 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Plug Power by 0.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 803,881 shares of the electronics maker's stock worth $1,817,000 after acquiring an additional 5,485 shares during the period. Compagnie Lombard Odier SCmA grew its position in Plug Power by 12.8% in the fourth quarter. Compagnie Lombard Odier SCmA now owns 49,000 shares of the electronics maker's stock valued at $104,000 after acquiring an additional 5,550 shares in the last quarter. Finally, Catalyst Capital Advisors LLC raised its stake in shares of Plug Power by 79.9% during the third quarter. Catalyst Capital Advisors LLC now owns 12,681 shares of the electronics maker's stock valued at $29,000 after purchasing an additional 5,631 shares during the period. 43.48% of the stock is currently owned by institutional investors and hedge funds.

About Plug Power

Plug Power Inc develops hydrogen and fuel cell product solutions in North America, Europe, Asia, and internationally. The company offers GenDrive, a hydrogen-fueled proton exchange membrane (PEM) fuel cell system that provides power to material handling electric vehicles; GenSure, a stationary fuel cell solution that offers modular PEM fuel cell power to support the backup and grid-support power requirements of the telecommunications, transportation, and utility sectors; ProGen, a fuel cell stack and engine technology used in mobility and stationary fuel cell systems, and as engines in electric delivery vans; GenFuel, a liquid hydrogen fueling delivery, generation, storage, and dispensing system; GenCare, an ongoing Internet of Things-based maintenance and on-site service program for GenDrive fuel cell systems, GenSure fuel cell systems, GenFuel hydrogen storage and dispensing products, and ProGen fuel cell engines; and GenKey, an integrated turn-key solution for transitioning to fuel cell power.