Plug Power (NASDAQ:PLUG) Trading Down 2.7% - Should You Sell?

Shares of Plug Power Inc. (NASDAQ:PLUG - Get Free Report) were down 2.7% during mid-day trading on Friday . The company traded as low as $1.21 and last traded at $1.27. Approximately 24,100,312 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 67,083,552 shares. The stock had previously closed at $1.30.

Analysts Set New Price Targets

A number of research firms recently commented on PLUG. Susquehanna reduced their price target on Plug Power from $1.80 to $1.25 and set a "neutral" rating for the company in a report on Monday, April 14th. HC Wainwright reissued a "buy" rating and set a $3.00 target price on shares of Plug Power in a report on Monday, March 24th. Piper Sandler cut their price target on Plug Power from $1.10 to $0.80 and set an "underweight" rating for the company in a report on Wednesday, May 14th. Wells Fargo & Company reduced their price objective on shares of Plug Power from $2.00 to $1.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 14th. Finally, Morgan Stanley dropped their price objective on shares of Plug Power from $1.25 to $0.50 and set an "underweight" rating on the stock in a research report on Monday, May 19th. Five analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $1.83.

Plug Power Trading Up 1.6%

The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of -0.61 and a beta of 2.17. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.08 and a quick ratio of 0.95. The business's 50-day moving average price is $0.93 and its two-hundred day moving average price is $1.62.

Plug Power (NASDAQ:PLUG - Get Free Report) last released its earnings results on Monday, May 12th. The electronics maker reported ($0.21) earnings per share for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.01). Plug Power had a negative net margin of 214.05% and a negative return on equity of 46.99%. The company had revenue of $133.67 million for the quarter, compared to the consensus estimate of $130.92 million. Research analysts predict that Plug Power Inc. will post -1.21 earnings per share for the current year.

Insider Activity at Plug Power

In other Plug Power news, CFO Paul B. Middleton bought 350,000 shares of Plug Power stock in a transaction on Friday, May 16th. The shares were purchased at an average price of $0.72 per share, with a total value of $252,000.00. Following the acquisition, the chief financial officer now owns 1,908,064 shares in the company, valued at $1,373,806.08. This trade represents a 22.46% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is currently owned by insiders.

Institutional Trading of Plug Power

Several large investors have recently bought and sold shares of PLUG. PNC Financial Services Group Inc. raised its holdings in shares of Plug Power by 53.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 15,410 shares of the electronics maker's stock worth $33,000 after acquiring an additional 5,348 shares during the last quarter. 49 Wealth Management LLC boosted its stake in Plug Power by 25.0% during the 4th quarter. 49 Wealth Management LLC now owns 29,180 shares of the electronics maker's stock valued at $62,000 after purchasing an additional 5,834 shares during the last quarter. 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 worth $25,000 after purchasing an additional 6,074 shares in the last quarter. Avantax Planning Partners Inc. raised its stake in shares of Plug Power by 54.0% in the fourth quarter. Avantax Planning Partners Inc. now owns 18,722 shares of the electronics maker's stock worth $40,000 after purchasing an additional 6,561 shares during the last quarter. Finally, Guggenheim Capital LLC lifted its holdings in shares of Plug Power by 13.0% in the fourth quarter. Guggenheim Capital LLC now owns 65,352 shares of the electronics maker's stock valued at $139,000 after purchasing an additional 7,539 shares in the last quarter. 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.