Plug Power (NASDAQ:PLUG) Shares Down 0.5% – Should You Sell?

Plug Power Inc. (NASDAQ:PLUG) shares dropped 0.5% during trading on Wednesday . The company traded as low as $2.01 and last traded at $2.05. Approximately 12,649,056 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 39,270,430 shares. The stock had previously closed at $2.06.

Analyst Ratings Changes

PLUG has been the subject of a number of research analyst reports. Canaccord Genuity Group lowered their target price on Plug Power from $3.00 to $2.50 and set a “hold” rating for the company in a research note on Monday, August 12th. B. Riley upgraded Plug Power to a “strong-buy” rating in a research note on Tuesday, June 25th. Susquehanna lowered their target price on Plug Power from $3.00 to $2.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. Jefferies Financial Group reduced their price objective on Plug Power from $2.20 to $2.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Finally, Wells Fargo & Company reduced their price objective on Plug Power from $4.00 to $3.00 and set an “equal weight” rating for the company in a research report on Friday, August 9th. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Plug Power has an average rating of “Hold” and an average price target of $5.01.

Plug Power Stock Up 1.0 %

The company has a quick ratio of 0.91, a current ratio of 2.07 and a debt-to-equity ratio of 0.16. The company has a market cap of $1.54 billion, a P/E ratio of -0.85 and a beta of 1.79. The company has a fifty day moving average of $2.05 and a 200 day moving average of $2.56.

Plug Power (NASDAQ:PLUG) last issued its quarterly earnings data on Thursday, August 8th. The electronics maker reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.06). The firm had revenue of $143.40 million during the quarter, compared to the consensus estimate of $184.54 million. Plug Power had a negative return on equity of 47.51% and a negative net margin of 216.80%. The business’s revenue was down 44.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.35) EPS. On average, research analysts anticipate that Plug Power Inc. will post -1.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Plug Power

Several institutional investors and hedge funds have recently bought and sold shares of PLUG. Swedbank AB purchased a new position in Plug Power during the first quarter valued at $10,687,000. SG Americas Securities LLC lifted its position in Plug Power by 134.0% during the second quarter. SG Americas Securities LLC now owns 2,458,537 shares of the electronics maker’s stock valued at $5,728,000 after purchasing an additional 1,407,858 shares in the last quarter. Quadrature Capital Ltd purchased a new position in shares of Plug Power in the fourth quarter valued at about $5,133,000. Pinnacle Associates Ltd. lifted its position in shares of Plug Power by 41.4% in the first quarter. Pinnacle Associates Ltd. now owns 3,775,808 shares of the electronics maker’s stock valued at $12,989,000 after acquiring an additional 1,105,813 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Plug Power by 69.4% in the second quarter. Bank of New York Mellon Corp now owns 2,530,346 shares of the electronics maker’s stock valued at $5,896,000 after acquiring an additional 1,036,777 shares in the last quarter. 43.48% of the stock is currently owned by hedge funds and other institutional investors.

Plug Power Company Profile

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.