Plug Power (NASDAQ:PLUG) Stock Price Down 4.6% - Time to Sell?

Plug Power Inc. (NASDAQ:PLUG - Get Free Report) shares fell 4.6% during trading on Monday . The stock traded as low as $1.65 and last traded at $1.76. 36,698,548 shares traded hands during mid-day trading, a decline of 49% from the average session volume of 72,595,031 shares. The stock had previously closed at $1.84.

Analyst Upgrades and Downgrades

PLUG has been the subject of several recent research reports. HC Wainwright reiterated a "buy" rating and issued a $18.00 price target on shares of Plug Power in a research report on Wednesday, November 13th. Piper Sandler reduced their target price on Plug Power from $1.60 to $1.40 and set an "underweight" rating on the stock in a research note on Thursday, November 14th. BTIG Research lowered shares of Plug Power from a "buy" rating to a "neutral" rating in a report on Thursday, November 14th. Canaccord Genuity Group dropped their target price on Plug Power from $2.50 to $2.25 and set a "hold" rating for the company in a report on Wednesday, November 13th. Finally, Susquehanna raised their price target on shares of Plug Power from $2.00 to $2.50 and gave the stock a "neutral" rating in a report on Thursday, January 16th. Five analysts have rated the stock with a sell rating, eight have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Plug Power has an average rating of "Hold" and an average target price of $4.12.

Plug Power Trading Up 6.7 %

The stock's fifty day simple moving average is $2.29 and its two-hundred day simple moving average is $2.15. The firm has a market cap of $1.60 billion, a PE ratio of -0.82 and a beta of 1.79. The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15.

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 (EPS) 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 company had revenue of $173.70 million during the quarter, compared to analysts' expectations of $207.25 million. During the same period in the prior year, the firm earned ($0.47) EPS. Plug Power's revenue for the quarter was down 12.6% compared to the same quarter last year. On average, sell-side analysts forecast that Plug Power Inc. will post -1.21 EPS for the current fiscal year.

Hedge Funds Weigh In On Plug Power

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nations Financial Group Inc. IA ADV grew its stake in shares of Plug Power by 42.3% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 15,798 shares of the electronics maker's stock valued at $36,000 after purchasing an additional 4,700 shares during the period. Arkadios Wealth Advisors increased its stake in shares of Plug Power by 18.2% in the third 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. PNC Financial Services Group Inc. increased its stake in Plug Power by 53.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 15,410 shares of the electronics maker's stock worth $33,000 after buying an additional 5,348 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position 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 in the last quarter. Finally, Compagnie Lombard Odier SCmA raised its position in shares of Plug Power by 12.8% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 49,000 shares of the electronics maker's stock valued at $104,000 after buying an additional 5,550 shares during the last quarter. 43.48% of the stock is owned by institutional investors.

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.