Plug Power (NASDAQ:PLUG) Stock Price Down 1.6% – Should You Sell?

Shares of Plug Power Inc. (NASDAQ:PLUG) traded down 1.6% on Tuesday . The company traded as low as $2.31 and last traded at $2.39. 14,333,014 shares were traded during trading, a decline of 67% from the average session volume of 43,428,219 shares. The stock had previously closed at $2.43.

Analyst Ratings Changes

Several equities research analysts have commented on PLUG shares. BTIG Research downgraded Plug Power from a “buy” rating to a “neutral” rating in a report on Thursday, November 14th. Evercore ISI reduced their price objective on shares of 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 cut their price target 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. HC Wainwright restated a “buy” rating and issued a $18.00 price objective on shares of Plug Power in a report on Wednesday, November 13th. Finally, 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 research note on Thursday, October 3rd. Four research analysts have rated the stock with a sell rating, eleven have given 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, the company has a consensus rating of “Hold” and a consensus price target of $4.52.

Plug Power Stock Performance

The firm has a market capitalization of $2.21 billion, a PE ratio of -1.13 and a beta of 1.76. 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 business’s fifty day simple moving average is $2.20 and its 200-day simple moving average is $2.25.

Plug Power (NASDAQ:PLUG) last announced its quarterly earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share (EPS) 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 company had revenue of $173.70 million during the quarter, compared to the consensus estimate of $207.25 million. During the same quarter in the prior year, the firm posted ($0.47) earnings per share. The business’s revenue was down 12.6% on a year-over-year basis. As a group, equities research analysts expect that Plug Power Inc. will post -1.2 EPS for the current year.

Hedge Funds Weigh In On Plug Power

Several institutional investors have recently added to or reduced their stakes in PLUG. Nations Financial Group Inc. IA ADV bought a new position in shares of Plug Power during the 2nd quarter valued at approximately $26,000. Aire Advisors LLC purchased a new stake in Plug Power during the second quarter valued at $28,000. Profund Advisors LLC bought a new position in Plug Power during the second quarter valued at $29,000. Prio Wealth Limited Partnership purchased a new position in shares of Plug Power in the 3rd quarter worth $29,000. Finally, Catalyst Capital Advisors LLC increased its holdings in shares of Plug Power by 79.9% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 12,681 shares of the electronics maker’s stock worth $29,000 after buying an additional 5,631 shares during the last quarter. Hedge funds and other 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.