Plug Power (NASDAQ:PLUG) Stock Price Down 6.5% - Time to Sell?

Plug Power Inc. (NASDAQ:PLUG - Get Free Report) dropped 6.5% during mid-day trading on Monday . The stock traded as low as $1.97 and last traded at $1.95. Approximately 41,574,597 shares were traded during mid-day trading, a decline of 46% from the average daily volume of 77,663,547 shares. The stock had previously closed at $2.08.

Analyst Ratings Changes

Several brokerages have recently commented on PLUG. Susquehanna lifted their price target on shares of Plug Power from $2.00 to $2.50 and gave the stock a "neutral" rating in a research report on Thursday, January 16th. Evercore ISI decreased their price objective on Plug Power from $5.00 to $4.00 and set an "outperform" rating for the company in a research note on Wednesday, November 13th. Wells Fargo & Company reduced their target price on Plug Power from $3.00 to $2.00 and set an "equal weight" rating on the stock in a report on Thursday, November 14th. Jefferies Financial Group lowered 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. Finally, Piper Sandler reduced their price objective on shares of Plug Power from $1.60 to $1.40 and set an "underweight" rating on the stock in a research note on Thursday, November 14th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $4.46.

Plug Power Stock Down 6.3 %

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's 50 day moving average price is $2.36 and its two-hundred day moving average price is $2.23. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of -0.91 and a beta of 1.79.

Plug Power (NASDAQ:PLUG - Get Free Report) last posted 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 during the quarter, compared to the consensus estimate of $207.25 million. During the same quarter last year, the company posted ($0.47) EPS. The firm's revenue was down 12.6% on a year-over-year basis. Sell-side analysts anticipate that Plug Power Inc. will post -1.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Nations Financial Group Inc. IA ADV increased its position in 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 acquiring an additional 4,700 shares during the period. Arkadios Wealth Advisors grew its position in shares of 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 purchasing an additional 5,075 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Plug Power by 0.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 803,881 shares of the electronics maker's stock worth $1,817,000 after purchasing an additional 5,485 shares during the period. Catalyst Capital Advisors LLC raised its position in shares of Plug Power by 79.9% in the third quarter. Catalyst Capital Advisors LLC now owns 12,681 shares of the electronics maker's stock valued at $29,000 after buying an additional 5,631 shares in the last quarter. Finally, Millburn Ridgefield Corp boosted its stake in shares of Plug Power by 79.9% in the third quarter. Millburn Ridgefield Corp now owns 12,681 shares of the electronics maker's stock valued at $29,000 after buying an additional 5,631 shares during the period. Institutional investors 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.