StockNews.com Upgrades Plug Power (NASDAQ:PLUG) to “Sell”

Plug Power (NASDAQ:PLUG) was upgraded by StockNews.com to a “sell” rating in a note issued to investors on Tuesday.

Other analysts have also issued research reports about the company. Wells Fargo & Company decreased their price objective on Plug Power from $3.00 to $2.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 14th. Canaccord Genuity Group reduced their price objective on shares of Plug Power from $2.50 to $2.25 and set a “hold” rating on the stock in a research note on Wednesday, November 13th. Evercore ISI lowered their target price 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. Craig Hallum cut their price target on Plug Power from $4.00 to $3.00 and set a “buy” rating for the company in a report on Thursday, November 14th. Finally, BTIG Research cut Plug Power from a “buy” rating to a “neutral” rating in a report on Thursday, November 14th. Five research analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Plug Power has an average rating of “Hold” and an average target price of $4.12.

Plug Power Price Performance

Shares of PLUG traded up $0.12 during mid-day trading on Tuesday, reaching $1.62. 96,364,196 shares of the company’s stock were exchanged, compared to its average volume of 68,775,914. The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15. Plug Power has a 52-week low of $1.37 and a 52-week high of $4.90. The company has a market cap of $1.48 billion, a price-to-earnings ratio of -0.76 and a beta of 1.79. The company has a 50-day simple moving average of $2.09 and a two-hundred day simple moving average of $2.11.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. raised its position in shares of Plug Power by 25.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,637,039 shares of the electronics maker’s stock valued at $15,000,000 after purchasing an additional 1,354,500 shares in the last quarter. XTX Topco Ltd acquired a new stake in Plug Power in the third quarter valued at $2,174,000. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Plug Power by 24.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,421,222 shares of the electronics maker’s stock valued at $5,472,000 after acquiring an additional 476,060 shares during the last quarter. Stifel Financial Corp grew its holdings in Plug Power by 23.4% during the 3rd quarter. Stifel Financial Corp now owns 1,398,398 shares of the electronics maker’s stock worth $3,160,000 after acquiring an additional 265,514 shares in the last quarter. Finally, MetLife Investment Management LLC increased its position in shares of Plug Power by 166.4% in the 3rd quarter. MetLife Investment Management LLC now owns 424,297 shares of the electronics maker’s stock worth $959,000 after purchasing an additional 265,042 shares during the last quarter. Institutional investors and hedge funds 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.