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

Plug Power, Inc. (NASDAQ:PLUG)’s share price traded down 1% during trading on Monday . The company traded as low as $1.91 and last traded at $1.96. 113,211,736 shares were traded during trading, an increase of 17% from the average session volume of 96,977,156 shares. The stock had previously closed at $1.98.

Wall Street Analyst Weigh In

PLUG has been the topic of a number of recent research reports. Cowen reissued a “buy” rating on shares of Plug Power in a report on Wednesday, November 19th. HSBC set a $4.40 price objective on shares of Plug Power in a research note on Thursday, October 9th. Canaccord Genuity Group set a $7.00 target price on shares of Plug Power in a research report on Monday. Wells Fargo & Company upped their target price on shares of Plug Power from $1.00 to $1.50 and gave the company an “equal weight” rating in a report on Thursday, August 14th. Finally, BMO Capital Markets dropped their price target on shares of Plug Power from $1.10 to $1.00 and set an “underperform” rating on the stock in a research note on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, six have given a Hold rating and six have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $2.80.

Plug Power Price Performance

The company has a current ratio of 1.59, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22. The stock has a 50 day simple moving average of $2.77 and a 200-day simple moving average of $1.85. The firm has a market cap of $2.73 billion, a PE ratio of -0.85 and a beta of 2.28.

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

Insiders Place Their Bets

In other Plug Power news, EVP Benjamin Haycraft sold 10,000 shares of the 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 sale, the executive vice president directly owned 467,583 shares of the company’s stock, valued at $1,365,342.36. This trade represents a 2.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.41% of the stock is owned by insiders.

Hedge Funds Weigh In On Plug Power

Several hedge funds have recently modified their holdings of the stock. Kovack Advisors Inc. purchased a new position in Plug Power during the third quarter valued at $26,000. Sender Co & Partners Inc. bought a new position in shares of Plug Power during the 2nd quarter valued at about $26,000. Yousif Capital Management LLC bought a new position in shares of Plug Power during the 3rd quarter valued at about $27,000. Prakash Investment Advisors LLC purchased a new position in shares of Plug Power during the third quarter valued at about $27,000. Finally, Baader Bank Aktiengesellschaft bought a new stake in shares of Plug Power in the first quarter worth about $28,000. Hedge funds and other institutional investors own 43.48% of the company’s stock.

About Plug Power

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.