Plug Power (NASDAQ:PLUG) Stock Price Down 4.5% - Time to Sell?

Key Points

• Plug Power's stock fell by 4.5% to $2.53 during mid-day trading, with trading volume significantly increasing to 384 million shares, which is 348% above its average.
• Analysts have mixed opinions on the stock, with target prices ranging from $1.00 to $1.80, and a consensus rating of "Reduce".
• The company reported a negative net margin of 292.84% and missed earnings estimates, reflecting ongoing challenges despite generating significant revenue of $173.97 million in the last quarter.

Plug Power, Inc. (NASDAQ:PLUG - Get Free Report) fell 4.5% during mid-day trading on Tuesday . The company traded as low as $2.51 and last traded at $2.53. 384,013,048 shares were traded during trading, an increase of 348% from the average session volume of 85,692,984 shares. The stock had previously closed at $2.65.

Analysts Set New Price Targets

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

Plug Power Stock Performance

The company has a 50-day moving average price of $1.64 and a two-hundred day moving average price of $1.32. The stock has a market capitalization of $2.92 billion, a P/E ratio of -1.10 and a beta of 2.09. The company has a quick ratio of 0.82, a current ratio of 1.59 and a debt-to-equity ratio of 0.22.

Plug Power (NASDAQ:PLUG - Get Free Report) last released its quarterly earnings data 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. Equities analysts expect that Plug Power, Inc. will post -1.21 earnings per share for the current year.

Institutional Investors Weigh In On Plug Power

A number of institutional investors and hedge funds have recently made changes to their positions in PLUG. Vanguard Group Inc. grew 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 buying an additional 3,930,342 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of 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 purchasing an additional 3,125,542 shares in the last quarter. Heights Capital Management Inc. bought a new position in shares of Plug Power in the first quarter worth approximately $31,174,000. Legal & General Group Plc raised its stake in Plug Power by 59.9% in the second quarter. Legal & General Group Plc now owns 16,980,865 shares of the electronics maker's stock valued at $25,301,000 after purchasing an additional 6,364,483 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted 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 valued at $11,743,000 after purchasing an additional 2,521,348 shares during the last quarter. Hedge funds and other institutional investors own 43.48% of the company's stock.

About Plug Power

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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