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

Plug Power (NASDAQ:PLUG) was upgraded by stock analysts at StockNews.com to a “sell” rating in a research note issued on Wednesday.

Several other brokerages have also issued reports on PLUG. HC Wainwright reaffirmed a “buy” rating and set a $18.00 target price on shares of Plug Power in a research report on Wednesday, November 13th. BTIG Research downgraded shares of Plug Power from a “buy” rating to a “neutral” rating in a report on Thursday, November 14th. Wells Fargo & Company lowered 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. Susquehanna upped their price target on shares of Plug Power from $2.00 to $2.50 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Finally, Canaccord Genuity Group decreased their price target on shares of Plug Power from $2.50 to $2.25 and set a “hold” rating for the company in a report on Wednesday, November 13th. Five research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Plug Power has a consensus rating of “Hold” and a consensus price target of $4.55.

Plug Power Stock Down 7.7 %

NASDAQ PLUG traded down $0.17 during midday trading on Wednesday, hitting $2.03. 74,360,238 shares of the company traded hands, compared to its average volume of 82,430,742. Plug Power has a 52 week low of $1.60 and a 52 week high of $5.14. The company’s 50-day simple moving average is $2.36 and its 200-day simple moving average is $2.25. The company has a market cap of $1.85 billion, a PE ratio of -0.95 and a beta of 1.79. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.08 and a quick ratio of 0.95.

Plug Power (NASDAQ:PLUG) last posted its earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.01). The company had revenue of $173.70 million during the quarter, compared to analysts’ expectations of $207.25 million. Plug Power had a negative net margin of 214.05% and a negative return on equity of 46.99%. Plug Power’s revenue for the quarter was down 12.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.47) EPS. As a group, equities research analysts forecast that Plug Power will post -1.2 earnings per share for the current year.

Hedge Funds Weigh In On Plug Power

Several large investors have recently made changes to their positions in the stock. Profund Advisors LLC acquired a new stake in shares of Plug Power in the second quarter valued at $29,000. Prio Wealth Limited Partnership purchased a new stake in Plug Power during the third quarter worth about $29,000. Catalyst Capital Advisors LLC lifted its position in shares of Plug Power by 79.9% during the third quarter. Catalyst Capital Advisors LLC now owns 12,681 shares of the electronics maker’s stock worth $29,000 after purchasing an additional 5,631 shares in the last quarter. First Commonwealth Financial Corp PA acquired a new position in shares of Plug Power in the third quarter valued at approximately $29,000. Finally, Millburn Ridgefield Corp increased its stake in Plug Power by 79.9% during the 3rd quarter. Millburn Ridgefield Corp now owns 12,681 shares of the electronics maker’s stock worth $29,000 after buying an additional 5,631 shares during the period. 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.