Plug Power (NASDAQ:PLUG) Stock Price Down 4.9% - Should You Sell?

Shares of Plug Power Inc. (NASDAQ:PLUG - Get Free Report) were down 4.9% during mid-day trading on Monday . The stock traded as low as $2.63 and last traded at $2.73. Approximately 29,198,412 shares were traded during trading, a decline of 65% from the average daily volume of 82,375,547 shares. The stock had previously closed at $2.87.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Jefferies Financial Group lowered their target price on shares of Plug Power from $2.20 to $2.00 and set a "hold" rating for the company in a research note on Thursday, October 3rd. Craig Hallum cut their price objective on shares of Plug Power from $4.00 to $3.00 and set a "buy" rating on the stock 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 research note on Thursday, November 14th. HC Wainwright reaffirmed a "buy" rating and issued a $18.00 price target on shares of Plug Power in a research note on Wednesday, November 13th. Finally, Evercore ISI decreased their price objective on shares of Plug Power from $5.00 to $4.00 and set an "outperform" rating for the company in a report on Wednesday, November 13th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $4.52.

Plug Power Price Performance

The company has a market cap of $2.47 billion, a PE ratio of -1.27 and a beta of 1.79. The stock has a fifty day moving average price of $2.30 and a 200-day moving average price of $2.24. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.08 and a quick ratio of 0.95.

Plug Power (NASDAQ:PLUG - Get Free Report) last announced its quarterly earnings data 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 business 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 company posted ($0.47) earnings per share. The firm's revenue was down 12.6% on a year-over-year basis. On average, equities analysts expect that Plug Power Inc. will post -1.2 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PLUG. 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 acquiring an additional 3,662,456 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake 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 purchasing an additional 1,354,500 shares in the last quarter. Vontobel Holding Ltd. raised its stake in shares of Plug Power by 44.3% during 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 in the last quarter. XTX Topco Ltd bought a new stake in shares of Plug Power in the 3rd quarter valued at approximately $2,174,000. Finally, Van ECK Associates Corp grew its stake in shares of Plug Power by 23.6% in the 3rd quarter. Van ECK Associates Corp now owns 4,232,001 shares of the electronics maker's stock valued at $8,803,000 after buying an additional 809,187 shares in 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.

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