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 Monday morning.

Several other analysts also recently commented on PLUG. Evercore ISI cut their price objective on shares of Plug Power from $5.00 to $4.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 13th. Craig Hallum cut their price target on shares of Plug Power from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Piper Sandler decreased their price objective on shares of Plug Power from $1.60 to $1.40 and set an “underweight” rating for the company in a report on Thursday, November 14th. Canaccord Genuity Group lowered their price objective on Plug Power from $2.50 to $2.25 and set a “hold” rating on the stock in a research report on Wednesday, November 13th. Finally, BTIG Research lowered Plug Power from a “buy” rating to a “neutral” rating in a report on Thursday, November 14th. Five equities 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $4.12.

Plug Power Stock Performance

Shares of PLUG opened at $1.65 on Monday. The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15. The stock has a market cap of $1.50 billion, a P/E ratio of -0.77 and a beta of 1.79. The business’s 50 day moving average price is $2.30 and its 200-day moving average price is $2.15. Plug Power has a 52 week low of $1.57 and a 52 week high of $4.90.

Plug Power (NASDAQ:PLUG) last released its earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.01). Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. The company had revenue of $173.70 million during the quarter, compared to the consensus estimate of $207.25 million. During the same period last year, the firm posted ($0.47) earnings per share. The company’s revenue was down 12.6% compared to the same quarter last year. Equities research analysts anticipate that Plug Power will post -1.21 earnings per share for the current fiscal year.

Institutional Trading of Plug Power

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Plug Power by 5.4% in the fourth quarter. Vanguard Group Inc. now owns 87,438,503 shares of the electronics maker’s stock worth $186,244,000 after acquiring an additional 4,491,114 shares during the period. Norges Bank bought a new position in Plug Power in the 4th quarter worth $146,465,000. Geode Capital Management LLC lifted its position in Plug Power by 3.8% during the fourth quarter. Geode Capital Management LLC now owns 19,917,268 shares of the electronics maker’s stock valued at $42,434,000 after purchasing an additional 722,639 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings 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 valued at $15,000,000 after purchasing an additional 1,354,500 shares during the period. Finally, Van ECK Associates Corp increased 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 worth $8,803,000 after buying an additional 809,187 shares in the last quarter. 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.