Plug Power (NASDAQ:PLUG) Shares Down 1.3% – What’s Next?

Plug Power, Inc. (NASDAQ:PLUG) fell 1.3% during mid-day trading on Friday . The company traded as low as $2.18 and last traded at $2.20. 94,022,727 shares traded hands during mid-day trading, a decline of 3% from the average session volume of 96,813,539 shares. The stock had previously closed at $2.23.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on PLUG shares. Wall Street Zen downgraded shares of Plug Power from a “hold” rating to a “sell” rating in a research report on Sunday, November 16th. Susquehanna cut their price target 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. Hsbc Global Res upgraded Plug Power to a “strong-buy” rating in a report on Thursday, October 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Plug Power in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company upped their price target on Plug Power from $1.00 to $1.50 and gave the company an “equal weight” rating in a research report on Thursday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have assigned a Hold rating and six have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $2.80.

Plug Power Stock Performance

The stock has a market capitalization of $3.06 billion, a P/E ratio of -0.93 and a beta of 1.74. The company has a current ratio of 1.32, a quick ratio of 0.70 and a debt-to-equity ratio of 0.24. The company has a 50-day moving average price of $2.74 and a two-hundred day moving average price of $1.90.

Plug Power (NASDAQ:PLUG) last announced its earnings results on Monday, November 10th. The electronics maker reported ($0.12) EPS for the quarter, beating 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 return on equity of 105.98% and a negative net margin of 313.69%. On average, equities analysts forecast that Plug Power, Inc. will post -1.21 earnings per share for the current year.

Insider Activity at Plug Power

In other news, EVP Benjamin Haycraft sold 10,000 shares of Plug Power stock in a transaction on Monday, November 10th. The shares were sold at an average price of $2.92, for a total value of $29,200.00. Following the completion of the sale, the executive vice president owned 467,583 shares in the company, valued at $1,365,342.36. The trade was a 2.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.41% of the stock is currently owned by company insiders.

Institutional Trading of Plug Power

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Plug Power by 7.6% in the 3rd quarter. Vanguard Group Inc. now owns 109,631,956 shares of the electronics maker’s stock valued at $255,442,000 after buying an additional 7,789,039 shares in the last quarter. Geode Capital Management LLC grew its stake in Plug Power by 14.9% in the second quarter. Geode Capital Management LLC now owns 24,071,904 shares of the electronics maker’s stock valued at $35,872,000 after acquiring an additional 3,125,542 shares during the period. Heights Capital Management Inc. acquired a new stake in Plug Power in the first quarter valued at approximately $31,174,000. Legal & General Group Plc increased its holdings in shares of Plug Power by 4.2% during the third quarter. Legal & General Group Plc now owns 17,695,077 shares of the electronics maker’s stock valued at $41,230,000 after acquiring an additional 714,212 shares in the last quarter. Finally, Two Sigma Investments LP increased its holdings in shares of Plug Power by 292.1% during the third quarter. Two Sigma Investments LP now owns 10,830,893 shares of the electronics maker’s stock valued at $25,236,000 after acquiring an additional 8,068,713 shares in the last quarter. 43.48% of the stock is currently owned by institutional investors and hedge funds.

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.