Plug Power (NASDAQ:PLUG) Shares Down 9.5% - Time to Sell?

Key Points

• Plug Power (NASDAQ:PLUG) shares fell by 9.5%, trading as low as $3.40, with a total trading volume of approximately 156 million shares.
• Recent ratings from analysts show a mixed outlook, with price targets varying significantly; Jefferies raised theirs to $1.60 while BMO Capital Markets lowered theirs to $1.00.
• The company reported a loss of ($0.16) earnings per share for the last quarter, missing estimates, despite generating revenues of $173.97 million, exceeding analyst expectations.

Plug Power, Inc. (NASDAQ:PLUG - Get Free Report) was down 9.5% on Friday . The stock traded as low as $3.40 and last traded at $3.42. Approximately 156,566,628 shares traded hands during trading, an increase of 69% from the average daily volume of 92,543,008 shares. The stock had previously closed at $3.78.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PLUG. Jefferies Financial Group raised their price target on Plug Power from $0.90 to $1.60 and gave the company a "hold" rating in a report on Wednesday, July 23rd. BMO Capital Markets lowered their target price on Plug Power from $1.10 to $1.00 and set an "underperform" rating for the company in a research note on Tuesday, August 12th. HC Wainwright raised their price objective on shares of Plug Power from $3.00 to $7.00 and gave the company a "buy" rating in a research report on Friday, October 3rd. Weiss Ratings restated a "sell (d-)" rating on shares of Plug Power in a research report on Wednesday. Finally, Wells Fargo & Company raised their price target on shares of Plug Power from $1.00 to $1.50 and gave the company an "equal weight" rating in a report on Thursday, August 14th. Five equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and six have issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Reduce" and an average target price of $2.35.

Plug Power Trading Down 9.5%

The company has a debt-to-equity ratio of 0.22, a current ratio of 1.59 and a quick ratio of 0.82. The business has a 50 day moving average of $1.99 and a 200 day moving average of $1.45. The firm has a market capitalization of $3.95 billion, a price-to-earnings ratio of -1.48 and a beta of 2.23.

Plug Power (NASDAQ:PLUG - Get Free Report) last posted its 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 company had revenue of $173.97 million for the quarter, compared to analyst estimates of $157.97 million. Plug Power had a negative return on equity of 90.22% and a negative net margin of 292.84%. As a group, research analysts predict that Plug Power, Inc. will post -1.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Plug Power

Several large investors have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Plug Power by 35.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 64,440 shares of the electronics maker's stock valued at $137,000 after buying an additional 16,878 shares during the last quarter. Miracle Mile Advisors LLC acquired a new stake in Plug Power in the 1st quarter valued at about $26,000. SG Americas Securities LLC lifted its stake in Plug Power by 110.6% in the 1st quarter. SG Americas Securities LLC now owns 2,615,819 shares of the electronics maker's stock valued at $3,531,000 after purchasing an additional 1,373,486 shares during the last quarter. Bellecapital International Ltd. acquired a new stake in shares of Plug Power in the first quarter valued at approximately $128,000. Finally, Compagnie Lombard Odier SCmA lifted its position in shares of Plug Power by 183.7% in the first quarter. Compagnie Lombard Odier SCmA now owns 139,000 shares of the electronics maker's stock valued at $188,000 after buying an additional 90,000 shares during the last quarter. 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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