Plug Power (NASDAQ:PLUG) was downgraded by analysts at BidaskClub from a "strong-buy" rating to a "buy" rating in a report released on Wednesday, BidAskClub reports.
Several other equities research analysts have also recently weighed in on PLUG. Roth Capital increased their price objective on Plug Power from $22.00 to $30.00 and gave the stock a "buy" rating in a report on Monday, November 30th. Barclays increased their price objective on Plug Power from $12.00 to $13.00 and gave the stock an "equal weight" rating in a report on Friday, September 25th. Morgan Stanley increased their price objective on Plug Power from $14.50 to $38.00 and gave the stock an "overweight" rating in a report on Monday, December 21st. They noted that the move was a valuation call. Craig Hallum increased their price objective on Plug Power from $14.00 to $26.00 and gave the stock a "buy" rating in a report on Tuesday, November 10th. Finally, Zacks Investment Research cut Plug Power from a "hold" rating to a "strong sell" rating in a report on Tuesday, December 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company's stock. Plug Power presently has an average rating of "Buy" and an average target price of $26.13.
Shares of PLUG stock opened at $32.46 on Wednesday. The stock has a market capitalization of $13.49 billion, a PE ratio of -104.71 and a beta of 1.31. Plug Power has a 1-year low of $2.53 and a 1-year high of $37.51. The business has a 50-day moving average of $27.18 and a 200 day moving average of $15.50. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.89 and a quick ratio of 1.34.
Plug Power (NASDAQ:PLUG) last issued its earnings results on Monday, November 9th. The electronics maker reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.04). The company had revenue of $107.00 million for the quarter, compared to analysts' expectations of $105.76 million. Plug Power had a negative net margin of 33.33% and a negative return on equity of 70.36%. The company's revenue was up 89.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.09) earnings per share. Analysts anticipate that Plug Power will post -0.27 EPS for the current year.
In related news, COO Keith Schmid sold 83,333 shares of the firm's stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $14.00, for a total transaction of $1,166,662.00. Following the completion of the transaction, the chief operating officer now owns 439,553 shares of the company's stock, valued at approximately $6,153,742. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Fivet Capital Holding Ag sold 1,915,034 shares of the firm's stock in a transaction that occurred on Friday, November 13th. The shares were sold at an average price of $23.11, for a total value of $44,256,435.74. Following the transaction, the director now directly owns 227,112 shares of the company's stock, valued at approximately $5,248,558.32. The disclosure for this sale can be found here. Insiders sold a total of 3,417,262 shares of company stock valued at $75,760,139 in the last three months. Corporate insiders own 4.50% of the company's stock.
A number of hedge funds have recently bought and sold shares of PLUG. BlackRock Inc. increased its position in Plug Power by 22.8% during the 3rd quarter. BlackRock Inc. now owns 41,154,255 shares of the electronics maker's stock valued at $551,879,000 after buying an additional 7,629,118 shares in the last quarter. Allianz Asset Management GmbH increased its position in Plug Power by 7,984.8% during the 3rd quarter. Allianz Asset Management GmbH now owns 2,180,313 shares of the electronics maker's stock valued at $29,238,000 after buying an additional 2,153,345 shares in the last quarter. Columbus Circle Investors increased its holdings in shares of Plug Power by 4,712.5% in the 3rd quarter. Columbus Circle Investors now owns 1,768,974 shares of the electronics maker's stock worth $23,722,000 after purchasing an additional 1,732,216 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Plug Power by 3,217.3% in the 3rd quarter. Victory Capital Management Inc. now owns 1,682,112 shares of the electronics maker's stock worth $22,557,000 after purchasing an additional 1,631,404 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its holdings in shares of Plug Power by 124.2% in the 2nd quarter. Nuveen Asset Management LLC now owns 2,658,254 shares of the electronics maker's stock worth $21,825,000 after purchasing an additional 1,472,512 shares in the last quarter. 44.56% of the stock is owned by institutional investors.
About Plug Power
Plug Power Inc provides hydrogen fuel cell turnkey solutions for the electric mobility and stationary power markets in North America and Europe. It focuses on proton exchange membrane (PEM) fuel cell and fuel processing technologies, fuel cell/battery hybrid technologies, and related hydrogen storage and dispensing infrastructure.
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