Plug Power (NASDAQ:PLUG) Trading Down 1.8% – What’s Next?

Plug Power, Inc. (NASDAQ:PLUG) shares fell 1.8% on Monday . The company traded as low as $2.09 and last traded at $2.16. 97,842,579 shares changed hands during mid-day trading, an increase of 1% from the average session volume of 96,820,086 shares. The stock had previously closed at $2.20.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Hsbc Global Res raised Plug Power to a “strong-buy” rating in a report on Thursday, October 9th. Wells Fargo & Company increased their price objective on shares of Plug Power from $1.00 to $1.50 and gave the company an “equal weight” rating in a research report on Thursday, August 14th. Cowen reaffirmed a “buy” rating on shares of Plug Power in a report on Wednesday, November 19th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Plug Power in a research note on Wednesday, October 8th. Finally, Susquehanna cut their price objective on shares of Plug Power from $3.50 to $2.50 and set a “neutral” rating for the company in a research report on Monday, November 17th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, six have assigned a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat.com, Plug Power currently has a consensus rating of “Hold” and an average price target of $2.80.

Plug Power Stock Performance

The company has a debt-to-equity ratio of 0.24, a current ratio of 1.32 and a quick ratio of 0.70. The stock’s 50-day moving average price is $2.74 and its 200-day moving average price is $1.93. The company has a market cap of $3.01 billion, a P/E ratio of -0.91 and a beta of 1.74.

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

Insider Buying and Selling

In related news, EVP Benjamin Haycraft sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $2.92, for a total transaction of $29,200.00. Following the completion of the transaction, the executive vice president directly owned 467,583 shares in the company, valued at $1,365,342.36. This represents a 2.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.41% of the company’s stock.

Institutional Investors Weigh In On Plug Power

Several hedge funds have recently added to or reduced their stakes in the business. Brave Asset Management Inc. raised its holdings in Plug Power by 603.8% during the 2nd quarter. Brave Asset Management Inc. now owns 140,400 shares of the electronics maker’s stock valued at $209,000 after buying an additional 120,450 shares during the last quarter. Legal & General Group Plc increased its position in shares of Plug Power by 59.9% in the second quarter. Legal & General Group Plc now owns 16,980,865 shares of the electronics maker’s stock valued at $25,301,000 after acquiring an additional 6,364,483 shares during the period. Baader Bank Aktiengesellschaft raised its stake in shares of Plug Power by 3,034.2% during the second quarter. Baader Bank Aktiengesellschaft now owns 652,950 shares of the electronics maker’s stock valued at $973,000 after acquiring an additional 632,117 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its stake in shares of Plug Power by 365,934.4% during the second quarter. Caitong International Asset Management Co. Ltd now owns 3,795,777 shares of the electronics maker’s stock valued at $5,656,000 after acquiring an additional 3,794,740 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Plug Power by 14.9% during the second quarter. Geode Capital Management LLC now owns 24,071,904 shares of the electronics maker’s stock worth $35,872,000 after purchasing an additional 3,125,542 shares during the period. 43.48% of the stock is currently owned by institutional investors and hedge funds.

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.