Plug Power (NASDAQ:PLUG) Stock Price Down 3.3% - Should You Sell?

Plug Power Inc. (NASDAQ:PLUG - Get Free Report)'s stock price traded down 3.3% on Tuesday . The company traded as low as $2.36 and last traded at $2.37. 12,554,092 shares were traded during mid-day trading, a decline of 71% from the average session volume of 43,209,789 shares. The stock had previously closed at $2.45.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Wells Fargo & Company dropped their price objective on Plug Power from $3.00 to $2.00 and set an "equal weight" rating on the stock in a research note on Thursday, November 14th. Jefferies Financial Group cut their price target on Plug Power from $2.20 to $2.00 and set a "hold" rating for the company in a research note on Thursday, October 3rd. Piper Sandler decreased their price objective on Plug Power from $1.60 to $1.40 and set an "underweight" rating for the company in a report on Thursday, November 14th. BTIG Research downgraded shares of Plug Power from a "buy" rating to a "neutral" rating in a report on Thursday, November 14th. Finally, Craig Hallum lowered their price target on shares of Plug Power from $4.00 to $3.00 and set a "buy" rating on the stock in a research report on Thursday, November 14th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $4.52.

Plug Power Trading Up 0.4 %

The stock's 50 day simple moving average is $2.16 and its 200 day simple moving average is $2.28. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 2.08. The firm has a market cap of $2.24 billion, a PE ratio of -1.15 and a beta of 1.76.

Plug Power (NASDAQ:PLUG - Get Free Report) last released its earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) EPS 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 firm had revenue of $173.70 million during the quarter, compared to the consensus estimate of $207.25 million. During the same period in the prior year, the company earned ($0.47) EPS. The firm's revenue was down 12.6% compared to the same quarter last year. On average, sell-side analysts forecast that Plug Power Inc. will post -1.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PLUG. Geode Capital Management LLC increased its holdings in shares of Plug Power by 23.6% in the third quarter. Geode Capital Management LLC now owns 19,194,629 shares of the electronics maker's stock worth $43,388,000 after buying an additional 3,662,456 shares during the period. Charles Schwab Investment Management Inc. grew its position in Plug Power by 25.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,637,039 shares of the electronics maker's stock worth $15,000,000 after acquiring an additional 1,354,500 shares during the last quarter. Vontobel Holding Ltd. increased its stake in Plug Power by 44.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 3,426,354 shares of the electronics maker's stock worth $7,744,000 after purchasing an additional 1,051,400 shares during the period. Bank of New York Mellon Corp lifted its position in Plug Power by 69.4% in the second quarter. Bank of New York Mellon Corp now owns 2,530,346 shares of the electronics maker's stock valued at $5,896,000 after purchasing an additional 1,036,777 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of Plug Power during the third quarter valued at approximately $2,174,000. 43.48% of the stock is currently owned by institutional investors.

Plug Power Company Profile

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.