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

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

A number of other analysts have also recently issued reports on the company. BTIG Research cut Plug Power from a “buy” rating to a “neutral” rating in a research report on Thursday, November 14th. Susquehanna raised their price target on Plug Power from $2.00 to $2.50 and gave the company a “neutral” rating in a report on Thursday, January 16th. Evercore ISI decreased their price objective on shares of Plug Power from $5.00 to $4.00 and set an “outperform” rating on the stock in a report on Wednesday, November 13th. Wells Fargo & Company cut their target price on shares of Plug Power from $3.00 to $2.00 and set an “equal weight” rating for the company in a research note on Thursday, November 14th. Finally, Craig Hallum reduced their target price on shares of Plug Power from $4.00 to $3.00 and set a “buy” rating for the company in a report on Thursday, November 14th. Five analysts have rated the stock with a sell rating, eight have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $4.12.

Plug Power Price Performance

Shares of PLUG opened at $1.72 on Monday. The company has a current ratio of 2.08, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. The company’s fifty day simple moving average is $2.32 and its 200 day simple moving average is $2.16. Plug Power has a 1-year low of $1.60 and a 1-year high of $4.90. The company has a market cap of $1.57 billion, a price-to-earnings ratio of -0.80 and a beta of 1.79.

Plug Power (NASDAQ:PLUG) last issued its earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). The firm had revenue of $173.70 million during the quarter, compared to the consensus estimate 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 revenue for the quarter was down 12.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.47) earnings per share. On average, research analysts forecast that Plug Power will post -1.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PLUG. Geode Capital Management LLC lifted its stake in Plug Power by 23.6% during the third 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 last quarter. Charles Schwab Investment Management Inc. boosted its stake in Plug Power by 25.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,637,039 shares of the electronics maker’s stock valued at $15,000,000 after buying an additional 1,354,500 shares in the last quarter. Van ECK Associates Corp grew its position in Plug Power by 23.6% in the third quarter. Van ECK Associates Corp now owns 4,232,001 shares of the electronics maker’s stock valued at $8,803,000 after acquiring an additional 809,187 shares during the last quarter. Vontobel Holding Ltd. grew its position in Plug Power by 44.3% in 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. Finally, Bank of New York Mellon Corp raised its stake in Plug Power by 8.1% during the fourth quarter. Bank of New York Mellon Corp now owns 2,452,369 shares of the electronics maker’s stock worth $5,224,000 after acquiring an additional 183,438 shares in 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.