Plug Power (NASDAQ:PLUG) Stock Price Down 1.3% - Time to Sell?

Plug Power, Inc. (NASDAQ:PLUG - Get Free Report) traded down 1.3% during mid-day trading on Wednesday . The company traded as low as $1.13 and last traded at $1.15. 20,667,768 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 91,267,586 shares. The stock had previously closed at $1.16.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Morgan Stanley dropped their price target on Plug Power from $1.25 to $0.50 and set an "underweight" rating on the stock in a research note on Monday, May 19th. BMO Capital Markets lowered their target price on shares of Plug Power from $1.60 to $1.40 and set an "underperform" rating on the stock in a research report on Wednesday, March 5th. Roth Capital reiterated a "buy" rating on shares of Plug Power in a research report on Tuesday, May 13th. Piper Sandler dropped their price objective on shares of Plug Power from $1.10 to $0.80 and set an "underweight" rating on the stock in a research note on Wednesday, May 14th. Finally, Truist Financial reduced their target price on shares of Plug Power from $2.00 to $1.50 and set a "hold" rating for the company in a report on Wednesday, March 5th. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Plug Power presently has an average rating of "Hold" and a consensus target price of $1.83.

Plug Power Trading Down 6.0%

The company has a current ratio of 1.95, a quick ratio of 1.07 and a debt-to-equity ratio of 0.27. The business has a 50 day moving average price of $0.94 and a 200-day moving average price of $1.57. The firm has a market capitalization of $1.25 billion, a PE ratio of -0.44 and a beta of 2.17.

Plug Power (NASDAQ:PLUG - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The electronics maker reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.01). Plug Power had a negative return on equity of 82.21% and a negative net margin of 312.29%. The business had revenue of $133.67 million during the quarter, compared to analysts' expectations of $130.92 million. Analysts expect that Plug Power, Inc. will post -1.21 earnings per share for the current year.

Insider Activity

In other news, CFO Paul B. Middleton acquired 350,000 shares of the company's stock in a transaction that occurred on Friday, May 16th. The stock was purchased at an average cost of $0.72 per share, with a total value of $252,000.00. Following the purchase, the chief financial officer now directly owns 1,908,064 shares of the company's stock, valued at approximately $1,373,806.08. This trade represents a 22.46% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.41% of the company's stock.

Institutional Trading of Plug Power

A number of institutional investors have recently bought and sold shares of PLUG. Oppenheimer & Co. Inc. acquired a new position in shares of Plug Power during the 4th quarter worth $25,000. Jones Financial Companies Lllp increased its holdings in Plug Power by 107.4% during the 4th quarter. Jones Financial Companies Lllp now owns 11,730 shares of the electronics maker's stock valued at $25,000 after acquiring an additional 6,074 shares in the last quarter. Callan Family Office LLC acquired a new position in Plug Power during the fourth quarter worth about $27,000. Ground Swell Capital LLC acquired a new position in Plug Power during the fourth quarter worth about $27,000. Finally, Strategic Investment Solutions Inc. IL lifted its holdings in shares of Plug Power by 1,182.4% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 14,696 shares of the electronics maker's stock valued at $31,000 after purchasing an additional 13,550 shares in the last quarter. 43.48% of the stock is currently owned by hedge funds and other 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.