Plug Power (NASDAQ:PLUG) Trading Down 4.5% - Should You Sell?

Plug Power, Inc. (NASDAQ:PLUG - Get Free Report)'s share price was down 4.5% during trading on Friday . The company traded as low as $1.16 and last traded at $1.17. Approximately 18,457,608 shares changed hands during trading, a decline of 73% from the average daily volume of 68,615,934 shares. The stock had previously closed at $1.22.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on PLUG shares. Morgan Stanley lowered their target price on Plug Power from $1.25 to $0.50 and set an "underweight" rating on the stock in a research report on Monday, May 19th. B. Riley decreased their price target on Plug Power from $4.00 to $3.00 and set a "buy" rating for the company in a research note on Wednesday, March 5th. Susquehanna dropped their price objective on Plug Power from $1.80 to $1.25 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Roth Capital reissued a "buy" rating on shares of Plug Power in a report on Tuesday, May 13th. Finally, Wells Fargo & Company decreased their target price on shares of Plug Power from $2.00 to $1.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 14th. Five analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $1.83.

Plug Power Trading Down 4.5%

The company has a market cap of $1.34 billion, a price-to-earnings ratio of -0.47 and a beta of 2.17. The company has a current ratio of 1.95, a quick ratio of 1.07 and a debt-to-equity ratio of 0.27. The business's 50 day moving average price is $0.94 and its 200-day moving average price is $1.56.

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

Insider Buying and Selling

In other Plug Power news, insider Paul B. Middleton acquired 650,000 shares of the business's stock in a transaction on Monday, June 9th. The stock was purchased at an average price of $1.03 per share, with a total value of $669,500.00. Following the acquisition, the insider now directly owns 2,558,064 shares of the company's stock, valued at approximately $2,634,805.92. This trade represents a 34.07% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.41% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Plug Power

Hedge funds and other institutional investors have recently made changes to their positions in the business. Swedbank AB grew its position in Plug Power by 16.5% during the first quarter. Swedbank AB now owns 274,066 shares of the electronics maker's stock worth $370,000 after buying an additional 38,833 shares in the last quarter. Focus Partners Wealth acquired a new stake in shares of Plug Power during the 1st quarter worth $37,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Plug Power by 12.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,607,153 shares of the electronics maker's stock worth $3,520,000 after purchasing an additional 297,754 shares in the last quarter. Advisors Asset Management Inc. raised its stake in Plug Power by 27.1% in the first quarter. Advisors Asset Management Inc. now owns 258,801 shares of the electronics maker's stock valued at $349,000 after purchasing an additional 55,145 shares in the last quarter. Finally, Amundi lifted its position in Plug Power by 1.7% during the first quarter. Amundi now owns 3,378,109 shares of the electronics maker's stock worth $4,560,000 after purchasing an additional 55,144 shares during the period. 43.48% of the stock is currently owned by institutional investors and hedge funds.

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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