Plug Power (NASDAQ:PLUG) Rating Increased to Hold at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Plug Power (NASDAQ:PLUG) to a hold rating in a research report released on Thursday morning,Zacks reports.

PLUG has been the subject of a number of other reports. TD Cowen increased their target price on shares of Plug Power from $2.00 to $3.00 and gave the company a “hold” rating in a research report on Tuesday, May 12th. Weiss Ratings lowered shares of Plug Power from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, July 28th. Craig Hallum reaffirmed a “buy” rating on shares of Plug Power in a research note on Tuesday, August 11th. Oppenheimer reiterated a “market perform” rating on shares of Plug Power in a research note on Tuesday, August 11th. Finally, Wells Fargo & Company raised their price target on shares of Plug Power from $2.00 to $2.50 and gave the company an “equal weight” rating in a report on Tuesday, May 19th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $3.59.

Plug Power Stock Performance

Shares of PLUG stock opened at $2.11 on Thursday. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.32 and a quick ratio of 1.32. The firm has a 50-day moving average of $2.25 and a 200-day moving average of $2.60. Plug Power has a one year low of $1.41 and a one year high of $4.58. The company has a market cap of $2.95 billion, a P/E ratio of -1.67 and a beta of 2.21.

Plug Power (NASDAQ:PLUG) last posted its quarterly earnings data on Monday, August 10th. The electronics maker reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.01. The firm had revenue of $178.30 million during the quarter, compared to analyst estimates of $169.11 million. Plug Power had a negative net margin of 220.59% and a negative return on equity of 56.01%. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. Equities research analysts forecast that Plug Power will post -0.26 EPS for the current fiscal year.

Hedge Funds Weigh In On Plug Power

Institutional investors and hedge funds have recently bought and sold shares of the stock. Kestra Advisory Services LLC lifted its position in Plug Power by 11.8% in the first quarter. Kestra Advisory Services LLC now owns 43,007 shares of the electronics maker’s stock valued at $97,000 after purchasing an additional 4,525 shares during the last quarter. Earned Wealth Advisors LLC boosted its stake in shares of Plug Power by 12.6% during the first quarter. Earned Wealth Advisors LLC now owns 44,061 shares of the electronics maker’s stock valued at $100,000 after purchasing an additional 4,923 shares during the period. GTS Securities LLC grew its holdings in shares of Plug Power by 18.9% in the second quarter. GTS Securities LLC now owns 32,330 shares of the electronics maker’s stock worth $88,000 after purchasing an additional 5,135 shares during the last quarter. Abel Hall LLC grew its holdings in shares of Plug Power by 9.2% in the first quarter. Abel Hall LLC now owns 62,213 shares of the electronics maker’s stock worth $141,000 after purchasing an additional 5,223 shares during the last quarter. Finally, Wealthfront Advisers LLC increased its stake in shares of Plug Power by 8.2% in the first quarter. Wealthfront Advisers LLC now owns 69,709 shares of the electronics maker’s stock worth $158,000 after buying an additional 5,283 shares during the period. 43.48% of the stock is currently owned by institutional investors.

Plug Power Company Profile

Plug Power Inc is a U.S.-based company specializing in the design and manufacture of hydrogen fuel cell systems that serve as clean energy replacements for conventional batteries in electric vehicles and material handling equipment. Its core solutions include ProGen fuel cell engines, GenDrive power systems for forklifts and warehouse vehicles, and GenFuel hydrogen refueling infrastructure. These offerings are sold as standalone components or integrated turnkey solutions under the GenKey brand, providing customers with on-site refueling, equipment installation and maintenance services.

In addition to its fuel cell and refueling products, Plug Power develops backup power and off-grid energy solutions through its GenSure line, which targets telecommunications, data centers and utility applications.