Plug Power (NASDAQ:PLUG) Stock Price Down 1.6% - Time to Sell?

Plug Power, Inc. (NASDAQ:PLUG - Get Free Report) shares fell 1.6% during mid-day trading on Wednesday . The company traded as low as $1.51 and last traded at $1.51. 12,758,559 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 71,259,650 shares. The stock had previously closed at $1.53.

Wall Street Analyst Weigh In

PLUG has been the subject of several research analyst reports. Evercore ISI upgraded Plug Power to a "strong sell" rating in a research report on Tuesday. Jefferies Financial Group decreased their target price on Plug Power from $1.70 to $0.90 and set a "hold" rating for the company in a research report on Tuesday, May 20th. Susquehanna decreased their target price on Plug Power from $1.80 to $1.25 and set a "neutral" rating for the company in a research report on Monday, April 14th. Piper Sandler decreased their target price on Plug Power from $1.10 to $0.80 and set an "underweight" rating for the company in a research report on Wednesday, May 14th. Finally, Roth Capital restated a "buy" rating on shares of Plug Power in a research note on Tuesday, May 13th. Six analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Plug Power currently has an average rating of "Hold" and a consensus price target of $1.83.

Plug Power Trading Up 8.2%

The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.07 and a current ratio of 1.95. The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of -0.72 and a beta of 2.29. The company has a 50 day moving average price of $1.14 and a two-hundred day moving average price of $1.46.

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

Insider Buying and Selling

In other news, insider Paul B. Middleton acquired 650,000 shares of Plug Power stock in a transaction that occurred on Monday, June 9th. The stock was purchased at an average cost of $1.03 per share, with a total value of $669,500.00. Following the purchase, the insider owned 2,558,064 shares in the company, valued at $2,634,805.92. This trade represents a 34.07% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.41% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PLUG. Jones Financial Companies Lllp raised its stake in Plug Power by 107.4% in the 4th quarter. Jones Financial Companies Lllp now owns 11,730 shares of the electronics maker's stock valued at $25,000 after purchasing an additional 6,074 shares during the last quarter. Miracle Mile Advisors LLC acquired a new position in Plug Power in the 1st quarter valued at $26,000. Ground Swell Capital LLC acquired a new position in Plug Power in the 4th quarter valued at $27,000. Baader Bank Aktiengesellschaft acquired a new position in Plug Power in the 1st quarter valued at $28,000. Finally, O ROURKE & COMPANY Inc purchased a new stake in Plug Power in the 2nd quarter valued at $30,000. 43.48% of the stock is owned by institutional investors and hedge funds.

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.