Plug Power (NASDAQ:PLUG) Upgraded at StockNews.com

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

Other equities analysts have also issued research reports about the stock. BTIG Research lowered shares of Plug Power from a “buy” rating to a “neutral” rating in a research report on Thursday, November 14th. HC Wainwright restated a “buy” rating and set a $18.00 price target on shares of Plug Power in a report on Wednesday, November 13th. Susquehanna upped their price objective on shares of Plug Power from $2.00 to $2.50 and gave the stock a “neutral” rating in a report on Thursday, January 16th. Piper Sandler cut their target price on Plug Power from $1.60 to $1.40 and set an “underweight” rating on the stock in a report on Thursday, November 14th. Finally, Craig Hallum reduced their price target on Plug Power from $4.00 to $3.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Plug Power currently has an average rating of “Hold” and a consensus target price of $4.46.

Plug Power Price Performance

Shares of PLUG opened at $2.08 on Wednesday. The business’s 50-day moving average is $2.36 and its 200-day moving average is $2.24. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.08 and a quick ratio of 0.95. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of -0.97 and a beta of 1.79. Plug Power has a fifty-two week low of $1.60 and a fifty-two week high of $5.14.

Plug Power (NASDAQ:PLUG) last released its quarterly earnings data on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share 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 analyst estimates of $207.25 million. Plug Power had a negative net margin of 214.05% and a negative return on equity of 46.99%. The firm’s quarterly revenue was down 12.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.47) EPS. Equities research analysts expect that Plug Power will post -1.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Plug Power

Several hedge funds have recently made changes to their positions in the stock. Pacific Sage Partners LLC bought a new position in Plug Power during the fourth quarter valued at about $25,000. Profund Advisors LLC acquired a new stake in shares of Plug Power during the 2nd quarter worth approximately $29,000. Prio Wealth Limited Partnership bought a new stake in shares of Plug Power during the third quarter valued at approximately $29,000. Catalyst Capital Advisors LLC raised its stake in shares of Plug Power by 79.9% in the third quarter. Catalyst Capital Advisors LLC now owns 12,681 shares of the electronics maker’s stock valued at $29,000 after purchasing an additional 5,631 shares in the last quarter. Finally, First Commonwealth Financial Corp PA bought a new position in Plug Power in the third quarter worth $29,000. 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.