Plug Power (NASDAQ:PLUG) Shares Down 9.6% - Should You Sell?

Key Points

• Plug Power's stock fell by 9.6% and traded at approximately $3.48, significantly lower than its previous close of $3.85.
• Research firms have given mixed ratings on Plug Power, with Weiss Ratings labeling it as a "sell" while Hsbc Global Res upgraded it to a "strong buy," reflecting the differing views on the company's prospects.
• Despite a negative net margin of 292.84% and missing EPS estimates, Plug Power reported revenue of $173.97 million, surpassing the consensus estimate of $157.97 million for the quarter.

Shares of Plug Power, Inc. (NASDAQ:PLUG - Get Free Report) traded down 9.6% during trading on Thursday . The stock traded as low as $3.46 and last traded at $3.48. 184,897,954 shares traded hands during trading, an increase of 96% from the average session volume of 94,545,336 shares. The stock had previously closed at $3.85.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PLUG. Weiss Ratings reiterated a "sell (d-)" rating on shares of Plug Power in a research note on Wednesday, October 8th. Evercore ISI upgraded shares of Plug Power to a "strong sell" rating in a research note on Tuesday, July 15th. Hsbc Global Res upgraded shares of Plug Power to a "strong-buy" rating in a research note on Thursday, October 9th. Susquehanna lifted their target price on shares of Plug Power from $1.80 to $3.50 and gave the company a "neutral" rating in a research note on Monday. Finally, Jefferies Financial Group lifted their target price on shares of Plug Power from $0.90 to $1.60 and gave the company a "hold" rating in a research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have issued a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $2.54.

Plug Power Stock Performance

The company has a market cap of $4.02 billion, a P/E ratio of -1.51 and a beta of 2.23. 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 stock's 50-day moving average price is $2.17 and its 200 day moving average price is $1.52.

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

Hedge Funds Weigh In On Plug Power

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Plug Power by 4.5% during the first quarter. Vanguard Group Inc. now owns 91,368,845 shares of the electronics maker's stock worth $123,348,000 after acquiring an additional 3,930,342 shares during the period. Geode Capital Management LLC increased its position in Plug Power by 14.9% during the second quarter. Geode Capital Management LLC now owns 24,071,904 shares of the electronics maker's stock worth $35,872,000 after acquiring an additional 3,125,542 shares during the period. Heights Capital Management Inc. bought a new position in Plug Power during the first quarter worth $31,174,000. Legal & General Group Plc increased its position in Plug Power by 59.9% during the second quarter. Legal & General Group Plc now owns 16,980,865 shares of the electronics maker's stock worth $25,301,000 after acquiring an additional 6,364,483 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Plug Power by 45.8% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,027,081 shares of the electronics maker's stock worth $11,743,000 after acquiring an additional 2,521,348 shares during the period. 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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