Plug Power (NASDAQ:PLUG) Upgraded by StockNews.com to Sell Rating

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

A number of other research analysts have also issued reports on the company. BMO Capital Markets lowered their target price on Plug Power from $1.60 to $1.40 and set an “underperform” rating on the stock in a report on Wednesday, March 5th. Susquehanna dropped their price target on Plug Power from $1.80 to $1.25 and set a “neutral” rating on the stock in a research note on Monday, April 14th. UBS Group dropped their price target on Plug Power from $2.50 to $1.75 and set a “neutral” rating on the stock in a research note on Friday, March 21st. Canaccord Genuity Group dropped their price target on Plug Power from $1.25 to $1.00 and set a “hold” rating on the stock in a research note on Tuesday. Finally, Piper Sandler dropped their price target on Plug Power from $1.40 to $1.10 and set an “underweight” rating on the stock in a research note on Wednesday, March 5th. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $2.08.

Plug Power Price Performance

NASDAQ:PLUG opened at $0.81 on Tuesday. The business’s 50-day moving average price is $1.19 and its 200 day moving average price is $1.80. The firm has a market cap of $830.30 million, a P/E ratio of -0.38 and a beta of 2.19. Plug Power has a 52-week low of $0.76 and a 52-week high of $4.90. 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 (NASDAQ:PLUG) last released its earnings results on Monday, May 12th. The electronics maker reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). The firm had revenue of $133.67 million for the quarter, compared to analyst estimates of $130.92 million. Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. As a group, sell-side analysts predict that Plug Power will post -1.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Plug Power

Several institutional investors have recently made changes to their positions in PLUG. Pacific Sage Partners LLC acquired a new stake in shares of Plug Power during the 4th quarter valued at about $25,000. Oppenheimer & Co. Inc. acquired a new stake in shares of Plug Power during the 4th quarter valued at about $25,000. Jones Financial Companies Lllp lifted its holdings in shares of Plug Power by 107.4% during the 4th quarter. Jones Financial Companies Lllp now owns 11,730 shares of the electronics maker’s stock valued at $25,000 after buying an additional 6,074 shares during the last quarter. Miracle Mile Advisors LLC acquired a new stake in shares of Plug Power during the 1st quarter valued at about $26,000. Finally, Callan Family Office LLC acquired a new stake in shares of Plug Power during the 4th quarter valued at about $27,000. 43.48% of the stock is currently 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.