Plug Power (NASDAQ:PLUG) Stock Price Down 9.5% - Time to Sell?

Plug Power, Inc. (NASDAQ:PLUG - Get Free Report) dropped 9.5% during mid-day trading on Tuesday . The stock traded as low as $1.17 and last traded at $1.19. Approximately 34,848,718 shares were traded during mid-day trading, a decline of 48% from the average daily volume of 67,425,866 shares. The stock had previously closed at $1.31.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on PLUG shares. HC Wainwright reissued a "buy" rating and set a $3.00 target price on shares of Plug Power in a research note on Monday, March 24th. BMO Capital Markets lowered their price objective on Plug Power from $1.60 to $1.40 and set an "underperform" rating on the stock in a report on Wednesday, March 5th. Morgan Stanley reduced their target price on Plug Power from $1.25 to $0.50 and set an "underweight" rating for the company in a report on Monday, May 19th. Jefferies Financial Group decreased their target price on Plug Power from $1.70 to $0.90 and set a "hold" rating on the stock in a research report on Tuesday, May 20th. Finally, UBS Group dropped their price target on Plug Power from $2.50 to $1.75 and set a "neutral" rating for the company in a research report on Friday, March 21st. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $1.83.

Plug Power Stock Down 16.8%

The company has a debt-to-equity ratio of 0.27, a current ratio of 1.95 and a quick ratio of 1.07. The company has a market capitalization of $1.25 billion, a PE ratio of -0.44 and a beta of 2.17. The business's 50 day simple moving average is $0.93 and its 200 day simple moving average is $1.61.

Plug Power (NASDAQ:PLUG - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The electronics maker reported ($0.21) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.01). Plug Power had a negative return on equity of 82.21% and a negative net margin of 312.29%. The firm had revenue of $133.67 million for the quarter, compared to analyst estimates of $130.92 million. As a group, analysts anticipate that Plug Power, Inc. will post -1.21 earnings per share for the current fiscal year.

Insider Buying and Selling at Plug Power

In other Plug Power news, insider Paul B. Middleton purchased 650,000 shares of the stock in a transaction dated Monday, June 9th. The stock was acquired at an average cost of $1.03 per share, for a total transaction of $669,500.00. Following the acquisition, the insider now owns 2,558,064 shares in the company, valued at $2,634,805.92. This trade represents a 34.07% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.41% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Oppenheimer & Co. Inc. acquired a new stake in shares of Plug Power during the fourth quarter valued at about $25,000. Jones Financial Companies Lllp boosted its position in shares of 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 during the period. Miracle Mile Advisors LLC purchased a new position in shares of Plug Power during the 1st quarter worth approximately $26,000. Callan Family Office LLC acquired a new stake in Plug Power in the 4th quarter valued at approximately $27,000. Finally, Ground Swell Capital LLC purchased a new stake in Plug Power in the fourth quarter valued at approximately $27,000. Institutional investors and hedge funds 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.