Plug Power (NASDAQ:PLUG) Trading Down 0.4% - Time to Sell?

Shares of Plug Power Inc. (NASDAQ:PLUG - Get Free Report) fell 0.4% on Monday . The stock traded as low as $2.31 and last traded at $2.42. 13,970,192 shares were traded during mid-day trading, a decline of 68% from the average session volume of 43,218,074 shares. The stock had previously closed at $2.43.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on PLUG shares. HC Wainwright reiterated a "buy" rating and set a $18.00 price target on shares of Plug Power in a report on Wednesday, November 13th. Piper Sandler reduced their price objective on shares of Plug Power from $1.60 to $1.40 and set an "underweight" rating for the company in a research note on Thursday, November 14th. BTIG Research cut shares of Plug Power from a "buy" rating to a "neutral" rating in a report on Thursday, November 14th. Jefferies Financial Group cut their target price on Plug Power from $2.20 to $2.00 and set a "hold" rating on the stock in a report on Thursday, October 3rd. Finally, Evercore ISI reduced their price target on Plug Power from $5.00 to $4.00 and set an "outperform" rating for the company in a research report on Wednesday, November 13th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Plug Power currently has a consensus rating of "Hold" and an average target price of $4.52.

Plug Power Stock Up 0.8 %

The firm's 50-day simple moving average is $2.15 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 company has a market capitalization of $2.23 billion, a price-to-earnings ratio of -1.14 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) earnings per share for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.01). The firm had revenue of $173.70 million for the quarter, compared to analyst estimates of $207.25 million. Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. The firm's quarterly revenue was down 12.6% compared to the same quarter last year. During the same period last year, the business earned ($0.47) earnings per share. Sell-side analysts forecast that Plug Power Inc. will post -1.2 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. lifted its position in shares of 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 buying an additional 1,354,500 shares during the period. XTX Topco Ltd bought a new stake in shares of Plug Power in the 3rd quarter worth about $2,174,000. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Plug Power by 24.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,421,222 shares of the electronics maker's stock worth $5,472,000 after purchasing an additional 476,060 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in Plug Power by 166.4% during the 3rd quarter. MetLife Investment Management LLC now owns 424,297 shares of the electronics maker's stock valued at $959,000 after purchasing an additional 265,042 shares during the last quarter. Finally, Vontobel Holding Ltd. grew its stake in 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 during the last quarter. 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.