Plug Power (NASDAQ:PLUG) Stock Price Down 4.8% - Here's What Happened

Key Points

• Shares fell 4.8% to $1.97 mid-day with 70.9 million shares traded (about 27% below average), leaving the stock near its 200-day moving average of $2.06.
• Analyst sentiment is mixed: MarketBeat shows a consensus rating of "Hold" with a $2.80 price target, while individual ratings span from Strong Buy to Sell.
• Fundamentals remain weak—recent quarterly EPS was −$0.12 (just ahead of estimates) but revenue missed and the company reports sharply negative margins; insiders both bought (37,300 shares at $2.34) and sold (40,000 shares at $2.20) recently.

Plug Power, Inc. (NASDAQ:PLUG - Get Free Report)'s stock price fell 4.8% during mid-day trading on Monday . The company traded as low as $1.97 and last traded at $1.97. 70,945,389 shares traded hands during trading, a decline of 27% from the average session volume of 96,538,359 shares. The stock had previously closed at $2.07.

Analyst Ratings Changes

A number of research firms have recently commented on PLUG. Cowen reissued a "buy" rating on shares of Plug Power in a research note on Wednesday, November 19th. Wall Street Zen cut shares of Plug Power from a "hold" rating to a "sell" rating in a research note on Sunday, November 16th. HSBC set a $4.40 price objective on shares of Plug Power in a research report on Thursday, October 9th. Canaccord Genuity Group set a $7.00 target price on shares of Plug Power in a report on Monday, November 24th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Plug Power in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have given a Hold rating and six have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $2.80.

Plug Power Stock Down 4.8%

The company has a quick ratio of 0.70, a current ratio of 1.32 and a debt-to-equity ratio of 0.24. The company has a market cap of $2.74 billion, a PE ratio of -0.83 and a beta of 1.74. The company's fifty day moving average is $2.36 and its 200-day moving average is $2.06.

Plug Power (NASDAQ:PLUG - Get Free Report) last released its quarterly earnings results on Monday, November 10th. The electronics maker reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.01. Plug Power had a negative return on equity of 105.98% and a negative net margin of 313.69%.The firm had revenue of $177.06 million for the quarter, compared to analysts' expectations of $185.41 million. On average, analysts predict that Plug Power, Inc. will post -1.21 EPS for the current year.

Insider Activity

In other news, insider Jose Luis Crespo purchased 37,300 shares of the business's stock in a transaction on Monday, December 15th. The stock was acquired at an average cost of $2.34 per share, for a total transaction of $87,282.00. Following the purchase, the insider directly owned 307,332 shares in the company, valued at $719,156.88. This trade represents a 13.81% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Benjamin Haycraft sold 40,000 shares of the company's stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $2.20, for a total transaction of $88,000.00. Following the sale, the insider directly owned 373,809 shares of the company's stock, valued at $822,379.80. The trade was a 9.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 60,000 shares of company stock worth $155,200 over the last three months. Insiders own 0.56% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Kovack Advisors Inc. bought a new stake in shares of Plug Power during the 3rd quarter valued at $26,000. Sender Co & Partners Inc. bought a new position in Plug Power in the 2nd quarter worth $26,000. Yousif Capital Management LLC purchased a new position in Plug Power during the third quarter valued at $27,000. Prakash Investment Advisors LLC purchased a new position in shares of Plug Power during the 3rd quarter valued at about $27,000. Finally, O ROURKE & COMPANY Inc bought a new position in shares of Plug Power in the second quarter worth approximately $30,000. 43.48% of the stock is currently owned by institutional investors.

Plug Power Company Profile

Plug Power Inc is a U.S.-based company specializing in the design and manufacture of hydrogen fuel cell systems that serve as clean energy replacements for conventional batteries in electric vehicles and material handling equipment. Its core solutions include ProGen fuel cell engines, GenDrive power systems for forklifts and warehouse vehicles, and GenFuel hydrogen refueling infrastructure. These offerings are sold as standalone components or integrated turnkey solutions under the GenKey brand, providing customers with on-site refueling, equipment installation and maintenance services.

In addition to its fuel cell and refueling products, Plug Power develops backup power and off-grid energy solutions through its GenSure line, which targets telecommunications, data centers and utility applications.

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