Plug Power (NASDAQ:PLUG) Upgraded by StockNews.com to “Sell” Rating

StockNews.com upgraded shares of Plug Power (NASDAQ:PLUG) to a sell rating in a research note released on Wednesday morning.

A number of other analysts have also recently issued reports on PLUG. Evercore ISI reduced their price objective on shares of Plug Power from $5.00 to $4.00 and set an “outperform” rating for the company in a research note on Wednesday, November 13th. HC Wainwright reissued a “buy” rating and set a $18.00 price target on shares of Plug Power in a report on Wednesday, November 13th. Canaccord Genuity Group cut their target price on Plug Power from $2.50 to $2.25 and set a “hold” rating for the company in a research report on Wednesday, November 13th. Jefferies Financial Group lowered their price target on Plug Power from $2.20 to $2.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Finally, Susquehanna lifted their price objective on shares of Plug Power from $2.00 to $2.50 and gave the company a “neutral” rating in a research report on Thursday, January 16th. Five equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Plug Power has a consensus rating of “Hold” and an average target price of $4.55.

Plug Power Trading Down 7.7 %

NASDAQ:PLUG opened at $2.03 on Wednesday. Plug Power has a one year low of $1.60 and a one year high of $5.14. The business has a fifty day moving average price of $2.36 and a 200-day moving average price of $2.25. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of -0.95 and a beta of 1.79. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.08 and a quick ratio of 0.95.

Plug Power (NASDAQ:PLUG) last posted its quarterly earnings data on Tuesday, November 12th. The electronics maker reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.01). The company had revenue of $173.70 million during the quarter, compared to the consensus estimate of $207.25 million. Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. The firm’s quarterly revenue was down 12.6% compared to the same quarter last year. During the same period last year, the business earned ($0.47) EPS. Sell-side analysts forecast that Plug Power will post -1.2 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PLUG. Nations Financial Group Inc. IA ADV raised its holdings in shares of Plug Power by 42.3% in the third quarter. Nations Financial Group Inc. IA ADV now owns 15,798 shares of the electronics maker’s stock worth $36,000 after buying an additional 4,700 shares during the period. Arkadios Wealth Advisors raised its holdings in shares of Plug Power by 18.2% in the 3rd quarter. Arkadios Wealth Advisors now owns 33,020 shares of the electronics maker’s stock valued at $75,000 after purchasing an additional 5,075 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Plug Power by 0.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 803,881 shares of the electronics maker’s stock valued at $1,817,000 after purchasing an additional 5,485 shares in the last quarter. Catalyst Capital Advisors LLC raised its stake in Plug Power by 79.9% in the third quarter. Catalyst Capital Advisors LLC now owns 12,681 shares of the electronics maker’s stock worth $29,000 after buying an additional 5,631 shares in the last quarter. Finally, Millburn Ridgefield Corp lifted its holdings in Plug Power by 79.9% during the third quarter. Millburn Ridgefield Corp now owns 12,681 shares of the electronics maker’s stock worth $29,000 after buying an additional 5,631 shares during the period. 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.