Plug Power (NASDAQ:PLUG) Upgraded to Sell at Wall Street Zen

Key Points

• Wall Street Zen upgraded Plug Power from “strong sell” to “sell,” but broader analyst sentiment remains cautious, with an average rating of “Hold” and a consensus price target of $3.40.
• Plug Power shares opened at $1.38 after falling 7.1%, near their 12-month low of $1.35. The company remains unprofitable, with negative margins and analysts forecasting a full-year loss.
• Recent quarterly results modestly beat expectations, with revenue of $178.3 million and an EPS loss of $0.07; however, an insider sold 200,000 shares, while Susquehanna lowered its price target to $1.75.

Plug Power (NASDAQ:PLUG - Get Free Report) was upgraded by analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a note issued to investors on Saturday, Wall Street Zen reports.

PLUG has been the subject of a number of other research reports. Weiss Ratings cut Plug Power from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, July 28th. Susquehanna dropped their target price on Plug Power from $2.50 to $1.75 and set a "neutral" rating on the stock in a research report on Wednesday. HC Wainwright restated a "buy" rating and set a $7.00 price target on shares of Plug Power in a research note on Tuesday, September 29th. Craig Hallum reaffirmed a "buy" rating on shares of Plug Power in a research report on Tuesday, August 11th. Finally, Morgan Stanley reaffirmed an "underweight" rating and set a $1.20 target price on shares of Plug Power in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Plug Power currently has an average rating of "Hold" and a consensus target price of $3.40.

Plug Power Trading Down 7.1%

NASDAQ:PLUG opened at $1.38 on Friday. The company has a market cap of $1.93 billion, a PE ratio of -1.10 and a beta of 2.28. The company has a current ratio of 2.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.29. The company has a 50 day simple moving average of $2.03 and a two-hundred day simple moving average of $2.56. Plug Power has a 12 month low of $1.35 and a 12 month high of $4.33.

Plug Power (NASDAQ:PLUG - Get Free Report) last released its quarterly earnings results on Monday, August 10th. The electronics maker reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.01. The firm had revenue of $178.30 million for the quarter, compared to analysts' expectations of $169.11 million. Plug Power had a negative return on equity of 56.01% and a negative net margin of 220.59%. The firm's revenue was up 2.5% compared to the same quarter last year. Research analysts forecast that Plug Power will post -0.25 earnings per share for the current year.

Insider Buying and Selling at Plug Power

In other Plug Power news, insider Benjamin Haycraft sold 200,000 shares of the company's stock in a transaction that occurred on Friday, September 18th. The shares were sold at an average price of $2.14, for a total value of $428,000.00. Following the completion of the transaction, the insider directly owned 101,249 shares in the company, valued at $216,672.86. This represents a 66.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 232,560 shares of company stock valued at $496,178 in the last three months. Corporate insiders own 1.37% of the company's stock.

Institutional Investors Weigh In On Plug Power

A number of institutional investors and hedge funds have recently bought and sold shares of PLUG. Ameritas Advisory Services LLC purchased a new position in Plug Power in the 2nd quarter worth approximately $25,000. DUTCH ASSET Corp bought a new position in shares of Plug Power during the 4th quarter valued at about $29,000. Greenleaf Trust bought a new position in shares of Plug Power during the 2nd quarter valued at about $29,000. PNC Financial Services Group Inc. grew its position in shares of Plug Power by 75.4% during the first quarter. PNC Financial Services Group Inc. now owns 16,733 shares of the electronics maker's stock valued at $38,000 after purchasing an additional 7,191 shares in the last quarter. Finally, Manatuck Hill Partners LLC purchased a new position in shares of Plug Power during the second quarter valued at about $43,000. 43.48% of the stock is owned by institutional investors.

Plug Power News Roundup

Here are the key news stories impacting Plug Power this week:

• Positive Sentiment: Plug Power said it remains on track to meet its 2026 revenue-growth outlook, with continued margin improvement and record-low net cash usage of approximately $28 million. Management also issued third-quarter revenue guidance of $194.8 million, above the $192.6 million analyst consensus. Plug Power business progress announcement
• Positive Sentiment: After the recent selloff, PLUG appears technically oversold. Zacks also cited broad upward revisions to analysts’ earnings estimates, suggesting that selling pressure may be exhausted and that a near-term rebound is possible. Zacks Plug Power turnaround analysis
• Neutral Sentiment: The company scheduled its third-quarter 2026 earnings call for November 9 and its digital Plug Symposium for November 19. These events could provide additional detail on demand, margins, cash flow and execution.
• Neutral Sentiment: PLUG recently outperformed the broader market in one session, but that gain has not offset the stock’s broader weakness. The company remains highly volatile, with performance likely to depend on upcoming results and progress toward profitability. Plug Power market performance article
• Negative Sentiment: Susquehanna lowered its price target for Plug Power, signaling reduced confidence in the near-term upside despite the company’s operational improvements. Susquehanna Plug Power price target report
• Negative Sentiment: Investor concerns remain significant because Plug Power is still unprofitable, has substantial cash needs and faces difficulty converting heavy operating spending into sustainable growth. Its negative margins and expected full-year loss continue to weigh on the stock. Skepticism toward unprofitable stocks

About Plug Power

Plug Power Inc is a clean-energy technology company that develops and supplies hydrogen and fuel-cell solutions. Its products include fuel-cell systems and engines for material-handling equipment, backup and stationary power, and other commercial and industrial applications. The company also provides electrolyzers for producing hydrogen, along with hydrogen generation, liquefaction, storage, and delivery services.

Plug Power serves customers in material handling, transportation, power generation, and industrial markets.

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