Plug Power (NASDAQ:PLUG) Stock Price Down 5.1% - Should You Sell?

Key Points

• Plug Power's stock price dropped 5.1% during trading, falling to $2.40 from a previous close of $2.53, with trading volume significantly increasing to approximately 169 million shares.
• Analyst ratings show a mixed outlook with four analysts rating it as a Buy, seven as Hold, and five as Sell, leading to an average rating of "Reduce" and a consensus price target of $1.88.
• In its latest earnings report, Plug Power reported a loss of ($0.16) per share, missing expectations, though revenue was higher than anticipated at $174 million.

Plug Power, Inc. (NASDAQ:PLUG - Get Free Report) dropped 5.1% during trading on Wednesday . The company traded as low as $2.34 and last traded at $2.40. Approximately 168,977,272 shares changed hands during mid-day trading, an increase of 96% from the average daily volume of 86,184,883 shares. The stock had previously closed at $2.53.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Susquehanna increased their price target on shares of Plug Power from $1.00 to $1.80 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Evercore ISI upgraded shares of Plug Power to a "strong sell" rating in a research note on Tuesday, July 15th. BMO Capital Markets cut their target price on shares of Plug Power from $1.10 to $1.00 and set an "underperform" rating on the stock in a report on Tuesday, August 12th. 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 report on Wednesday, July 23rd. Finally, Wells Fargo & Company lifted their price objective on shares of Plug Power from $1.00 to $1.50 and gave the company an "equal weight" rating in a research report on Thursday, August 14th. Four analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Reduce" and a consensus price target of $1.88.

Plug Power Stock Down 5.1%

The firm's 50 day moving average is $1.66 and its two-hundred day moving average is $1.33. The stock has a market cap of $2.77 billion, a price-to-earnings ratio of -1.04 and a beta of 2.09. The company has a current ratio of 1.59, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22.

Plug Power (NASDAQ:PLUG - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The electronics maker reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The company had revenue of $173.97 million for the quarter, compared to analysts' expectations of $157.97 million. Plug Power had a negative return on equity of 90.22% and a negative net margin of 292.84%. On average, sell-side analysts predict that Plug Power, Inc. will post -1.21 EPS for the current year.

Institutional Trading of Plug Power

Several large investors have recently bought and sold shares of PLUG. QRG Capital Management Inc. boosted its stake in shares of Plug Power by 31.8% during the 2nd quarter. QRG Capital Management Inc. now owns 25,014 shares of the electronics maker's stock valued at $37,000 after buying an additional 6,039 shares during the last quarter. Mandatum Life Insurance Co Ltd boosted its stake in shares of Plug Power by 17.6% during the 2nd quarter. Mandatum Life Insurance Co Ltd now owns 48,887 shares of the electronics maker's stock valued at $73,000 after buying an additional 7,300 shares during the last quarter. Avidian Wealth Enterprises LLC boosted its stake in shares of Plug Power by 45.4% during the 2nd quarter. Avidian Wealth Enterprises LLC now owns 24,020 shares of the electronics maker's stock valued at $36,000 after buying an additional 7,500 shares during the last quarter. Ameritas Investment Partners Inc. boosted its stake in shares of Plug Power by 11.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 93,347 shares of the electronics maker's stock valued at $139,000 after buying an additional 9,921 shares during the last quarter. Finally, Obermeyer Wealth Partners boosted its stake in shares of Plug Power by 100.0% during the 2nd quarter. Obermeyer Wealth Partners now owns 20,000 shares of the electronics maker's stock valued at $30,000 after buying an additional 10,000 shares during the last quarter. Institutional investors and hedge funds 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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