Plug Power (NASDAQ:PLUG) Shares Down 2.7% – What’s Next?

Plug Power, Inc. (NASDAQ:PLUG) shares were down 2.7% during trading on Friday . The stock traded as low as $2.09 and last traded at $2.20. Approximately 133,146,320 shares changed hands during trading, an increase of 37% from the average daily volume of 97,079,578 shares. The stock had previously closed at $2.26.

Analyst Ratings Changes

Several equities analysts have commented on PLUG shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Plug Power in a research report on Wednesday, October 8th. Morgan Stanley reissued an “underweight” rating and set a $1.50 price objective on shares of Plug Power in a report on Thursday, October 16th. HSBC set a $4.40 target price on Plug Power in a report on Thursday, October 9th. Susquehanna dropped their price target on shares of Plug Power from $3.50 to $2.50 and set a “neutral” rating on the stock in a research report on Monday, November 17th. Finally, Hsbc Global Res raised shares of Plug Power to a “strong-buy” rating in a report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have given a Hold rating and six have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $2.80.

Plug Power Stock Performance

The firm’s 50 day moving average price is $2.55 and its 200-day moving average price is $2.00. The firm has a market cap of $3.06 billion, a price-to-earnings ratio of -0.93 and a beta of 1.74. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.32 and a quick ratio of 0.70.

Plug Power (NASDAQ:PLUG) last posted its quarterly earnings results on Monday, November 10th. The electronics maker reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.01. The company had revenue of $177.06 million for the quarter, compared to analyst estimates of $185.41 million. Plug Power had a negative net margin of 313.69% and a negative return on equity of 105.98%. On average, analysts anticipate that Plug Power, Inc. will post -1.21 earnings per share for the current year.

Insider Activity at Plug Power

In other news, insider Jose Luis Crespo purchased 37,300 shares of the business’s stock in a transaction on Monday, December 15th. The stock was purchased at an average price of $2.34 per share, with a total value of $87,282.00. Following the acquisition, the insider directly owned 307,332 shares in the company, valued at approximately $719,156.88. The trade was a 13.81% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Benjamin Haycraft sold 40,000 shares of Plug Power stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $2.20, for a total value of $88,000.00. Following the sale, the insider directly owned 373,809 shares in the company, valued at $822,379.80. The trade was a 9.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 60,000 shares of company stock valued at $155,200. Insiders own 1.41% of the company’s stock.

Institutional Investors Weigh In On Plug Power

Several institutional investors and hedge funds have recently bought and sold shares of the business. Swiss Life Asset Management Ltd lifted its holdings in shares of Plug Power by 81.4% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 42,269 shares of the electronics maker’s stock worth $98,000 after acquiring an additional 18,964 shares during the period. CIBC Bancorp USA Inc. acquired a new position in Plug Power in the third quarter worth about $271,000. Abel Hall LLC lifted its stake in Plug Power by 31.7% during the third quarter. Abel Hall LLC now owns 26,491 shares of the electronics maker’s stock worth $62,000 after purchasing an additional 6,381 shares during the period. Kestra Private Wealth Services LLC bought a new position in Plug Power during the third quarter worth about $32,000. Finally, NewEdge Advisors LLC boosted its holdings in Plug Power by 77.3% during the third quarter. NewEdge Advisors LLC now owns 52,083 shares of the electronics maker’s stock valued at $121,000 after purchasing an additional 22,714 shares in the last quarter. Institutional investors own 43.48% of the company’s stock.

About Plug Power

Plug Power Inc is a U.S.-based company specializing in the design and manufacture of hydrogen fuel cell systems that serve as clean energy replacements for conventional batteries in electric vehicles and material handling equipment. Its core solutions include ProGen fuel cell engines, GenDrive power systems for forklifts and warehouse vehicles, and GenFuel hydrogen refueling infrastructure. These offerings are sold as standalone components or integrated turnkey solutions under the GenKey brand, providing customers with on-site refueling, equipment installation and maintenance services.

In addition to its fuel cell and refueling products, Plug Power develops backup power and off-grid energy solutions through its GenSure line, which targets telecommunications, data centers and utility applications.