Plug Power (NASDAQ:PLUG) Stock Price Down 6.5% - Should You Sell?

Plug Power Inc. (NASDAQ:PLUG - Get Free Report) fell 6.5% during mid-day trading on Monday . The company traded as low as $1.97 and last traded at $1.95. 41,574,597 shares were traded during mid-day trading, a decline of 46% from the average session volume of 77,663,547 shares. The stock had previously closed at $2.08.

Analyst Ratings Changes

Several brokerages recently commented on PLUG. StockNews.com upgraded shares of Plug Power to a "sell" rating in a report on Wednesday, January 22nd. Piper Sandler reduced their price objective on shares of Plug Power from $1.60 to $1.40 and set an "underweight" rating for the company in a research note on Thursday, November 14th. Craig Hallum lowered their target price on Plug Power from $4.00 to $3.00 and set a "buy" rating on the stock in a research report on Thursday, November 14th. Wells Fargo & Company reduced their price target on Plug Power from $3.00 to $2.00 and set an "equal weight" rating for the company in a research report on Thursday, November 14th. Finally, BTIG Research lowered Plug Power from a "buy" rating to a "neutral" rating in a research report on Thursday, November 14th. Five analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $4.18.

Plug Power Stock Performance

The company's fifty day simple moving average is $2.36 and its two-hundred day simple moving average is $2.20. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 2.08. The stock has a market capitalization of $1.69 billion, a P/E ratio of -0.87 and a beta of 1.79.

Plug Power (NASDAQ:PLUG - Get Free Report) last announced its earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.01). The firm had revenue of $173.70 million for the quarter, compared to the consensus estimate of $207.25 million. Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. Plug Power's revenue for the quarter was down 12.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.47) EPS. As a group, equities analysts forecast that Plug Power Inc. will post -1.21 EPS for the current year.

Institutional Investors Weigh In On Plug Power

A number of institutional investors have recently modified their holdings of the business. Pacific Sage Partners LLC bought a new position in Plug Power during the fourth quarter worth about $25,000. Prio Wealth Limited Partnership bought a new position in shares of Plug Power during the third quarter worth approximately $29,000. Catalyst Capital Advisors LLC raised its position in shares of Plug Power by 79.9% in the third quarter. Catalyst Capital Advisors LLC now owns 12,681 shares of the electronics maker's stock valued at $29,000 after buying an additional 5,631 shares in the last quarter. First Commonwealth Financial Corp PA bought a new stake in shares of Plug Power in the third quarter valued at approximately $29,000. Finally, Millburn Ridgefield Corp grew its position in Plug Power by 79.9% during the third quarter. Millburn Ridgefield Corp now owns 12,681 shares of the electronics maker's stock worth $29,000 after buying an additional 5,631 shares in the last quarter. Institutional investors 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.