Plug Power (NASDAQ:PLUG) Trading Down 4.9% – Should You Sell?

Plug Power, Inc. (NASDAQ:PLUG)’s stock price dropped 4.9% during mid-day trading on Thursday . The company traded as low as $2.45 and last traded at $2.51. Approximately 87,664,370 shares changed hands during mid-day trading, a decline of 7% from the average daily volume of 94,713,297 shares. The stock had previously closed at $2.64.

Analysts Set New Price Targets

PLUG has been the topic of several recent analyst reports. HSBC set a $4.40 price objective on shares of Plug Power in a report on Thursday, October 9th. Wall Street Zen upgraded Plug Power from a “sell” rating to a “hold” rating in a report on Saturday. Morgan Stanley restated an “underweight” rating and set a $1.50 price target on shares of Plug Power in a research note on Thursday, October 16th. Hsbc Global Res upgraded Plug Power to a “strong-buy” rating in a report on Thursday, October 9th. Finally, HC Wainwright boosted their target price on Plug Power from $3.00 to $7.00 and gave the stock a “buy” rating in a report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have assigned a Hold rating and six have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $2.54.

Plug Power Stock Up 5.6%

The firm has a market capitalization of $3.06 billion, a PE ratio of -1.15 and a beta of 2.28. The company has a quick ratio of 0.82, a current ratio of 1.59 and a debt-to-equity ratio of 0.22. The firm’s 50 day moving average price is $2.61 and its two-hundred day moving average price is $1.73.

Plug Power (NASDAQ:PLUG) last issued its quarterly earnings data on Monday, August 11th. The electronics maker reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). Plug Power had a negative net margin of 292.84% and a negative return on equity of 90.22%. The business had revenue of $173.97 million for the quarter, compared to analyst estimates of $157.97 million. As a group, research analysts forecast that Plug Power, Inc. will post -1.21 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Sender Co & Partners Inc. acquired a new stake in Plug Power in the second quarter worth approximately $26,000. Yousif Capital Management LLC acquired a new stake in shares of Plug Power in the third quarter valued at $27,000. Baader Bank Aktiengesellschaft bought a new position in Plug Power during the first quarter valued at about $28,000. O ROURKE & COMPANY Inc acquired a new position in Plug Power during the second quarter worth about $30,000. Finally, Abel Hall LLC bought a new stake in Plug Power in the second quarter worth about $30,000. Institutional investors own 43.48% of the company’s stock.

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.