Plug Power (NASDAQ:PLUG) Shares Down 4.2% - Time to Sell?

Key Points

• Plug Power's share price fell 4.2% to $2.27, with a trading volume of approximately 70.8 million shares, significantly below its average of 86.3 million shares.
• Multiple analysts have updated their ratings on Plug Power, with BMO Capital Markets issuing an "underperform" rating and Jefferies Financial Group maintaining a "hold" rating, leading to an average target price of $1.88.
• The company reported a loss per share of ($0.16) for the last quarter, missing estimates and indicating a negative net margin of 292.84%.

Plug Power, Inc. (NASDAQ:PLUG - Get Free Report)'s share price fell 4.2% during trading on Monday . The company traded as low as $2.22 and last traded at $2.27. 70,819,716 shares changed hands during mid-day trading, a decline of 18% from the average session volume of 86,338,422 shares. The stock had previously closed at $2.37.

Analyst Upgrades and Downgrades

A number of research firms have commented on PLUG. Susquehanna boosted their price objective on Plug Power from $1.00 to $1.80 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Evercore ISI raised Plug Power to a "strong sell" rating in a research note on Tuesday, July 15th. Wells Fargo & Company upped their price objective on Plug Power from $1.00 to $1.50 and gave the company an "equal weight" rating in a report on Thursday, August 14th. BMO Capital Markets dropped their price objective on Plug Power from $1.10 to $1.00 and set an "underperform" rating for the company in a report on Tuesday, August 12th. Finally, Jefferies Financial Group upped their price objective on Plug Power from $0.90 to $1.60 and gave the company a "hold" rating in a report on Wednesday, July 23rd. Four equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat, Plug Power has an average rating of "Reduce" and an average target price of $1.88.

Plug Power Stock Performance

The stock has a 50 day moving average price of $1.71 and a two-hundred day moving average price of $1.34. The company has a quick ratio of 0.82, a current ratio of 1.59 and a debt-to-equity ratio of 0.22. The company has a market cap of $2.62 billion, a P/E ratio of -0.98 and a beta of 2.09.

Plug Power (NASDAQ:PLUG - Get Free Report) last issued its quarterly earnings results on Monday, August 11th. The electronics maker reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The business had revenue of $173.97 million during the quarter, compared to the consensus estimate of $157.97 million. Plug Power had a negative net margin of 292.84% and a negative return on equity of 90.22%. On average, research analysts predict that Plug Power, Inc. will post -1.21 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Plug Power

Institutional investors have recently bought and sold shares of the company. Miracle Mile Advisors LLC bought a new position in Plug Power in the first quarter valued at $26,000. Sender Co & Partners Inc. bought a new stake in shares of Plug Power in the second quarter worth about $26,000. Baader Bank Aktiengesellschaft purchased a new stake in Plug Power in the first quarter worth about $28,000. O ROURKE & COMPANY Inc purchased a new stake in Plug Power in the second quarter worth about $30,000. Finally, Abel Hall LLC purchased a new position in shares of Plug Power during the second quarter valued at approximately $30,000. Hedge funds and other institutional investors own 43.48% of the company's stock.

Plug Power Company Profile

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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