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

Key Points

• Plug Power shares hit a new 52-week low, falling 3.9% to about $1.35, well below their 50-day and 200-day moving averages.
• Analyst sentiment remains mixed but leans cautious: the stock has an average “Hold” rating and a $3.40 consensus price target, while Morgan Stanley set a $1.20 target and Susquehanna cut its target to $1.75.
• The company modestly beat quarterly revenue and earnings expectations, but remains deeply unprofitable, with a negative net margin of 220.59% and analysts forecasting a full-year loss of $0.25 per share.

Plug Power, Inc. (NASDAQ:PLUG - Get Free Report)'s stock price hit a new 52-week low on Friday. The company traded as low as $1.34 and last traded at $1.3450, with a volume of 24,441,829 shares trading hands. The stock had previously closed at $1.42.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Susquehanna reduced their target price on shares of Plug Power from $2.50 to $1.75 and set a "neutral" rating on the stock in a research note on Wednesday, October 14th. Craig Hallum reissued a "buy" rating on shares of Plug Power in a research note on Tuesday, August 11th. Wall Street Zen upgraded shares of Plug Power from a "strong sell" rating to a "sell" rating in a research note on Saturday, October 17th. Morgan Stanley reissued an "underweight" rating and set a $1.20 target price on shares of Plug Power in a report on Wednesday, October 14th. Finally, HC Wainwright reiterated a "buy" rating and issued a $7.00 target price on shares of Plug Power in a research report on Tuesday, September 29th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, Plug Power currently has an average rating of "Hold" and a consensus price target of $3.40.

Plug Power Trading Down 3.9%

The firm has a 50 day simple moving average of $1.88 and a 200 day simple moving average of $2.39. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.32 and a current ratio of 2.32. The firm has a market cap of $1.91 billion, a P/E ratio of -1.08 and a beta of 2.28.

Plug Power (NASDAQ:PLUG - Get Free Report) last posted its quarterly earnings data on Monday, August 10th. The electronics maker reported ($0.07) earnings per share for the quarter, beating 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 for the quarter, compared to analysts' expectations of $169.11 million. The company's revenue for the quarter was up 2.5% on a year-over-year basis. On average, equities research analysts predict that Plug Power, Inc. will post -0.25 EPS for the current fiscal year.

Insiders Place Their Bets

In other Plug Power news, insider Benjamin Haycraft sold 200,000 shares of the firm's stock in a transaction on Friday, September 18th. The stock was sold at an average price of $2.14, for a total transaction of $428,000.00. Following the completion of the transaction, the insider owned 101,249 shares of the company's stock, valued at approximately $216,672.86. This trade represents a 66.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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 over the last 90 days. 1.37% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Plug Power in the third quarter worth $6,840,000. Vise Technologies Inc. grew its position in shares of Plug Power by 125.6% during the third quarter. Vise Technologies Inc. now owns 23,460 shares of the electronics maker's stock valued at $46,000 after purchasing an additional 13,060 shares in the last quarter. MGO One Seven LLC boosted its position in shares of Plug Power by 146.6% during the 3rd quarter. MGO One Seven LLC now owns 35,726 shares of the electronics maker's stock valued at $69,000 after acquiring an additional 21,236 shares during the last quarter. State of Wyoming lifted its position in Plug Power by 111.8% during the third quarter. State of Wyoming now owns 80,425 shares of the electronics maker's stock valued at $156,000 after purchasing an additional 42,447 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in shares of Plug Power by 111.6% in the 3rd quarter. International Assets Investment Management LLC now owns 50,000 shares of the electronics maker's stock valued at $97,000 after acquiring an additional 26,368 shares during the last quarter. Institutional investors own 43.48% of the company's stock.

About Plug Power

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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