Plug Power (NASDAQ:PLUG) Stock Price Down 6.1% - Time to Sell?

Plug Power Inc. (NASDAQ:PLUG - Get Free Report)'s share price traded down 6.1% on Monday . The stock traded as low as $0.82 and last traded at $0.83. 54,239,621 shares traded hands during trading, a decline of 15% from the average session volume of 63,465,438 shares. The stock had previously closed at $0.88.

Analysts Set New Price Targets

Several equities research analysts have commented on PLUG shares. BMO Capital Markets lowered their target price on shares of Plug Power from $1.60 to $1.40 and set an "underperform" rating for the company in a research note on Wednesday, March 5th. Jefferies Financial Group lowered their price objective on shares of Plug Power from $1.70 to $0.90 and set a "hold" rating for the company in a research report on Tuesday, May 20th. Morgan Stanley reduced their target price on Plug Power from $1.25 to $0.50 and set an "underweight" rating on the stock in a report on Monday, May 19th. Wells Fargo & Company decreased their target price on 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. Finally, HC Wainwright reaffirmed a "buy" rating and set a $3.00 price target on shares of Plug Power in a research report on Monday, March 24th. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Plug Power currently has a consensus rating of "Hold" and a consensus target price of $1.83.

Plug Power Stock Performance

The stock's 50-day moving average price is $0.95 and its 200 day moving average price is $1.67. The firm has a market cap of $982.16 million, a P/E ratio of -0.43 and a beta of 2.19. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.08 and a quick ratio of 0.95.

Plug Power (NASDAQ:PLUG - Get Free Report) last announced its quarterly earnings data 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 214.05% and a negative return on equity of 46.99%. The company had revenue of $133.67 million during the quarter, compared to the consensus estimate of $130.92 million. As a group, equities analysts predict that Plug Power Inc. will post -1.21 EPS for the current year.

Insider Transactions at Plug Power

In other news, CFO Paul B. Middleton bought 350,000 shares of the company's stock in a transaction dated Friday, May 16th. The shares were bought at an average cost of $0.72 per share, with a total value of $252,000.00. Following the acquisition, the chief financial officer now owns 1,908,064 shares in the company, valued at $1,373,806.08. This trade represents a 22.46% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.70% of the company's stock.

Hedge Funds Weigh In On Plug Power

A number of institutional investors have recently bought and sold shares of PLUG. Focus Partners Wealth bought a new position in shares of Plug Power during the 1st quarter worth approximately $37,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Plug Power by 12.9% during the first 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 during the period. Advisors Asset Management Inc. increased its holdings in shares of 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 during the last quarter. Amundi raised its position in shares of Plug Power by 1.7% in the first quarter. Amundi now owns 3,378,109 shares of the electronics maker's stock valued at $4,560,000 after purchasing an additional 55,144 shares during the period. Finally, Heights Capital Management Inc. bought a new position in shares of Plug Power in the first quarter valued at about $31,174,000. 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.