Plug Power (NASDAQ:PLUG) Upgraded at B. Riley

B. Riley upgraded shares of Plug Power (NASDAQ:PLUG) to a strong-buy rating in a research report sent to investors on Tuesday morning, Zacks.com reports.

A number of other equities analysts have also recently issued reports on PLUG. TD Cowen lowered their target price on Plug Power from $7.00 to $5.00 and set a buy rating for the company in a report on Friday, May 10th. Piper Sandler reduced their price target on Plug Power from $2.90 to $2.50 and set an underweight rating for the company in a research report on Friday, May 10th. Evercore ISI lowered their price target on Plug Power from $9.00 to $6.00 and set an outperform rating on the stock in a research report on Monday, March 4th. Citigroup cut shares of Plug Power from a neutral rating to a sell rating and decreased their target price for the company from $3.25 to $2.00 in a research note on Friday, April 5th. Finally, Truist Financial boosted their price objective on shares of Plug Power from $3.00 to $4.00 and gave the stock a hold rating in a research note on Wednesday, February 28th. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $5.49.

Plug Power Trading Down 5.3 %

NASDAQ:PLUG opened at $2.33 on Tuesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.94 and a quick ratio of 0.87. The business’s 50-day simple moving average is $2.83 and its 200-day simple moving average is $3.41. Plug Power has a fifty-two week low of $2.25 and a fifty-two week high of $13.44. The stock has a market capitalization of $1.73 billion, a PE ratio of -0.97 and a beta of 1.77.

Plug Power (NASDAQ:PLUG) last announced its quarterly earnings results on Thursday, May 9th. The electronics maker reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.11). Plug Power had a negative net margin of 181.96% and a negative return on equity of 43.10%. The company had revenue of $120.26 million during the quarter, compared to the consensus estimate of $162.92 million. Sell-side analysts expect that Plug Power will post -1.13 earnings per share for the current fiscal year.

Insider Activity at Plug Power

In other Plug Power news, Director George C. Mcnamee sold 10,000 shares of Plug Power stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $2.56, for a total transaction of $25,600.00. Following the transaction, the director now directly owns 639,572 shares of the company’s stock, valued at approximately $1,637,304.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. HighTower Advisors LLC grew its holdings in Plug Power by 20.5% in the third quarter. HighTower Advisors LLC now owns 54,110 shares of the electronics maker’s stock worth $411,000 after purchasing an additional 9,209 shares during the period. Deutsche Bank AG raised its stake in Plug Power by 74.1% during the 3rd quarter. Deutsche Bank AG now owns 83,510 shares of the electronics maker’s stock worth $635,000 after buying an additional 35,538 shares during the period. Mariner LLC boosted its holdings in Plug Power by 12.8% in the third quarter. Mariner LLC now owns 107,043 shares of the electronics maker’s stock worth $813,000 after acquiring an additional 12,167 shares in the last quarter. Stifel Financial Corp grew its stake in Plug Power by 65.7% in the third quarter. Stifel Financial Corp now owns 496,725 shares of the electronics maker’s stock valued at $3,775,000 after acquiring an additional 196,924 shares during the period. Finally, Treasurer of the State of North Carolina increased its holdings in shares of Plug Power by 1.7% during the third quarter. Treasurer of the State of North Carolina now owns 230,912 shares of the electronics maker’s stock valued at $1,755,000 after acquiring an additional 3,910 shares in the last quarter. 43.48% of the stock is 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.