Plug Power (NASDAQ:PLUG) Stock Price Down 1.5% - Should You Sell?

Plug Power Inc. (NASDAQ:PLUG - Get Free Report)'s stock price dropped 1.5% on Friday . The stock traded as low as $2.55 and last traded at $2.63. Approximately 14,762,849 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 81,930,695 shares. The stock had previously closed at $2.67.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PLUG shares. BTIG Research lowered shares of Plug Power from a "buy" rating to a "neutral" rating in a research report on Thursday, November 14th. Wells Fargo & Company dropped their target price on shares of Plug Power from $3.00 to $2.00 and set an "equal weight" rating on the stock in a report on Thursday, November 14th. Craig Hallum reduced their price target on Plug Power from $4.00 to $3.00 and set a "buy" rating for the company in a report on Thursday, November 14th. Jefferies Financial Group dropped their price objective on Plug Power from $2.20 to $2.00 and set a "hold" rating on the stock in a research note on Thursday, October 3rd. Finally, Piper Sandler cut their price objective 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. Four 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 company's stock. According to MarketBeat.com, Plug Power presently has an average rating of "Hold" and a consensus price target of $4.52.

Plug Power Stock Up 7.5 %

The firm's 50-day moving average price is $2.28 and its 200 day moving average price is $2.24. 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 company has a market capitalization of $2.62 billion, a price-to-earnings ratio of -1.34 and a beta of 1.79.

Plug Power (NASDAQ:PLUG - Get Free Report) last released its earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.01). Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. The business had revenue of $173.70 million for the quarter, compared to the consensus estimate of $207.25 million. During the same quarter in the previous year, the company earned ($0.47) earnings per share. The firm's revenue for the quarter was down 12.6% on a year-over-year basis. On average, sell-side analysts forecast that Plug Power Inc. will post -1.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC grew its holdings in shares of Plug Power by 23.6% during the 3rd quarter. Geode Capital Management LLC now owns 19,194,629 shares of the electronics maker's stock valued at $43,388,000 after purchasing an additional 3,662,456 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Plug Power by 25.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,637,039 shares of the electronics maker's stock worth $15,000,000 after buying an additional 1,354,500 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Plug Power by 23.6% during the third quarter. Van ECK Associates Corp now owns 4,232,001 shares of the electronics maker's stock worth $8,803,000 after buying an additional 809,187 shares in the last quarter. Vontobel Holding Ltd. increased its holdings in shares of Plug Power by 44.3% during the third quarter. Vontobel Holding Ltd. now owns 3,426,354 shares of the electronics maker's stock worth $7,744,000 after buying an additional 1,051,400 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Plug Power by 69.4% in the 2nd 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 acquiring an additional 1,036,777 shares during the last quarter. Institutional investors and hedge funds own 43.48% of the company's stock.

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.