Plug Power (NASDAQ:PLUG) Hits New 12-Month Low - Time to Sell?

Plug Power, Inc. (NASDAQ:PLUG - Get Free Report) reached a new 52-week low during trading on Wednesday. The company traded as low as $1.34 and last traded at $1.40, with a volume of 47,160,611 shares changing hands. The stock had previously closed at $1.37.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Jefferies Financial Group upgraded shares of Plug Power to a "hold" rating in a report on Thursday, September 3rd. HC Wainwright reaffirmed a "buy" rating and set a $7.00 price target on shares of Plug Power in a research report on Tuesday, September 29th. Morgan Stanley reiterated an "underweight" rating and issued a $1.20 price objective on shares of Plug Power in a research report on Wednesday, October 14th. Craig Hallum reaffirmed a "buy" rating on shares of Plug Power in a report on Tuesday, August 11th. Finally, UBS Group reaffirmed a "buy" rating and issued a $5.00 price target on shares of Plug Power in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $3.40.

Plug Power Price Performance

The firm has a market cap of $1.96 billion, a PE ratio of -1.11 and a beta of 2.28. The company has a 50 day moving average price of $2.00 and a 200 day moving average price of $2.55. The company has a current ratio of 2.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.29.

Plug Power (NASDAQ:PLUG - Get Free Report) last released its earnings results on Monday, August 10th. The electronics maker reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.01. Plug Power had a negative net margin of 220.59% and a negative return on equity of 56.01%. The firm had revenue of $178.30 million during the quarter, compared to analysts' expectations of $169.11 million. Plug Power's revenue was up 2.5% compared to the same quarter last year. On average, sell-side analysts expect that Plug Power, Inc. will post -0.25 EPS for the current year.

Insider Transactions at Plug Power

In related news, insider Benjamin Haycraft sold 200,000 shares of the stock in a transaction that occurred on Friday, September 18th. The stock was sold at an average price of $2.14, for a total value of $428,000.00. Following the completion of the transaction, the insider directly owned 101,249 shares of the company's stock, valued at $216,672.86. This represents a 66.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 241,935 shares of company stock valued at $509,397 in the last quarter. Company insiders own 1.37% of the company's stock.

Hedge Funds Weigh In On Plug Power

Several institutional investors and hedge funds have recently bought and sold shares of the business. Pinnacle Associates Ltd. grew its holdings in shares of Plug Power by 12.8% in the 3rd quarter. Pinnacle Associates Ltd. now owns 2,318,839 shares of the electronics maker's stock worth $4,499,000 after purchasing an additional 263,460 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of Plug Power in the 3rd quarter valued at about $49,000. Envestnet Asset Management Inc. raised its holdings in Plug Power by 45.7% in the second quarter. Envestnet Asset Management Inc. now owns 27,568 shares of the electronics maker's stock worth $75,000 after purchasing an additional 8,642 shares during the period. State Street Corp lifted its holdings in shares of Plug Power by 6.1% during the 2nd quarter. State Street Corp now owns 38,763,529 shares of the electronics maker's stock valued at $105,049,000 after purchasing an additional 2,214,427 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Plug Power by 9.9% during the second quarter. The Manufacturers Life Insurance Company now owns 702,003 shares of the electronics maker's stock worth $1,902,000 after acquiring an additional 63,074 shares during the period. Hedge funds and other institutional investors own 43.48% of the company's stock.

Plug Power Company Profile

Plug Power Inc is a clean-energy technology company that develops hydrogen and fuel-cell solutions for commercial and industrial customers. Founded in 1997 and headquartered in Latham, New York, the company focuses on replacing conventional batteries and fossil-fuel-powered equipment with hydrogen-based power systems.

Its product portfolio includes fuel-cell systems for material-handling equipment, backup and stationary power, and commercial vehicles; hydrogen engines and fuel-cell stacks; electrolyzers that produce hydrogen from water; and hydrogen generation, storage, and delivery infrastructure.

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