Plug Power (NASDAQ:PLUG) Rating Increased to Sell at StockNews.com

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

PLUG has been the subject of several other reports. Piper Sandler dropped their target price on shares of Plug Power from $1.60 to $1.40 and set an “underweight” rating for the company in a research report on Thursday, November 14th. HC Wainwright restated a “buy” rating and set a $18.00 price objective on shares of Plug Power in a research report on Wednesday, November 13th. Craig Hallum reduced their target price on Plug Power from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Canaccord Genuity Group lowered their price target on Plug Power from $2.50 to $2.25 and set a “hold” rating for the company in a report on Wednesday, November 13th. Finally, Jefferies Financial Group reduced their price objective on Plug Power from $2.20 to $2.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Five 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. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $4.55.

Plug Power Trading Up 3.0 %

Shares of NASDAQ:PLUG opened at $2.09 on Wednesday. The business’s 50 day simple moving average is $2.36 and its 200 day simple moving average is $2.25. Plug Power has a 1 year low of $1.60 and a 1 year high of $5.14. 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 P/E ratio of -0.98 and a beta of 1.79.

Plug Power (NASDAQ:PLUG) last released its earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.01). The company had revenue of $173.70 million for the quarter, compared to analyst estimates of $207.25 million. Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. The business’s revenue for the quarter was down 12.6% compared to the same quarter last year. During the same period last year, the company posted ($0.47) earnings per share. On average, research analysts anticipate that Plug Power will post -1.2 EPS for the current fiscal year.

Institutional Trading of Plug Power

Several institutional investors have recently added to or reduced their stakes in PLUG. Geode Capital Management LLC lifted its position in shares of Plug Power by 23.6% in the 3rd quarter. Geode Capital Management LLC now owns 19,194,629 shares of the electronics maker’s stock worth $43,388,000 after purchasing an additional 3,662,456 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Plug Power by 25.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,637,039 shares of the electronics maker’s stock worth $15,000,000 after buying an additional 1,354,500 shares during the last quarter. Vontobel Holding Ltd. boosted its position in Plug Power by 44.3% during the third quarter. Vontobel Holding Ltd. now owns 3,426,354 shares of the electronics maker’s stock valued at $7,744,000 after acquiring an additional 1,051,400 shares during the last quarter. XTX Topco Ltd acquired a new stake in Plug Power during the 3rd quarter worth about $2,174,000. Finally, Van ECK Associates Corp grew its holdings in Plug Power by 23.6% during the 3rd quarter. Van ECK Associates Corp now owns 4,232,001 shares of the electronics maker’s stock worth $8,803,000 after acquiring an additional 809,187 shares during the period. 43.48% of the stock is currently owned by institutional investors.

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.