Plug Power (NASDAQ:PLUG) Trading Down 1% – Time to Sell?

Shares of Plug Power, Inc. (NASDAQ:PLUG) dropped 1% on Monday . The stock traded as low as $1.91 and last traded at $1.96. Approximately 113,211,736 shares were traded during mid-day trading, an increase of 17% from the average daily volume of 96,977,156 shares. The stock had previously closed at $1.98.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Susquehanna dropped their target price on shares of Plug Power from $3.50 to $2.50 and set a “neutral” rating on the stock in a report on Monday, November 17th. HC Wainwright reissued a “buy” rating and set a $7.00 price target on shares of Plug Power in a research report on Monday. HSBC set a $4.40 price objective on shares of Plug Power in a report on Thursday, October 9th. Wall Street Zen lowered shares of Plug Power from a “hold” rating to a “sell” rating in a report on Sunday, November 16th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Plug Power in a research note on Wednesday, October 8th. 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 issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $2.80.

Plug Power Price Performance

The firm’s fifty day simple moving average is $2.77 and its 200-day simple moving average is $1.85. The firm has a market capitalization of $2.73 billion, a PE ratio of -0.85 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.

Plug Power (NASDAQ:PLUG) last posted its quarterly earnings results on Monday, November 10th. The electronics maker reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.01. Plug Power had a negative net margin of 292.84% and a negative return on equity of 90.22%. The firm had revenue of $177.06 million for the quarter, compared to analysts’ expectations of $185.41 million. Plug Power has set its FY 2025 guidance at EPS. On average, research analysts forecast that Plug Power, Inc. will post -1.21 earnings per share for the current fiscal year.

Insider Buying and Selling at Plug Power

In other news, EVP Benjamin Haycraft sold 10,000 shares of the company’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $2.92, for a total transaction of $29,200.00. Following the transaction, the executive vice president directly owned 467,583 shares of the company’s stock, valued at $1,365,342.36. This represents a 2.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.41% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Plug Power

A number of hedge funds have recently bought and sold shares of PLUG. Profund Advisors LLC lifted its stake in Plug Power by 24.4% during the 3rd quarter. Profund Advisors LLC now owns 20,188 shares of the electronics maker’s stock valued at $47,000 after acquiring an additional 3,961 shares during the period. SlateStone Wealth LLC lifted its position in Plug Power by 16.0% during the third quarter. SlateStone Wealth LLC now owns 29,077 shares of the electronics maker’s stock valued at $68,000 after purchasing an additional 4,000 shares during the period. Signature Estate & Investment Advisors LLC boosted its holdings in Plug Power by 33.4% in the third quarter. Signature Estate & Investment Advisors LLC now owns 18,414 shares of the electronics maker’s stock worth $43,000 after purchasing an additional 4,615 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in Plug Power by 10.6% in the third quarter. Mackenzie Financial Corp now owns 58,098 shares of the electronics maker’s stock worth $135,000 after purchasing an additional 5,584 shares during the last quarter. Finally, QRG Capital Management Inc. grew its position in Plug Power by 31.8% in the 2nd quarter. QRG Capital Management Inc. now owns 25,014 shares of the electronics maker’s stock worth $37,000 after purchasing an additional 6,039 shares during the period. Hedge funds and other 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.