Plug Power (NASDAQ:PLUG) Rating Lowered to Sell at Citigroup

Plug Power (NASDAQ:PLUG - Get Free Report) was downgraded by Citigroup from a "neutral" rating to a "sell" rating in a research note issued to investors on Friday, Marketbeat.com reports. They presently have a $2.00 target price on the electronics maker's stock, down from their previous target price of $3.25. Citigroup's price objective suggests a potential downside of 36.31% from the company's current price.

Other research analysts have also recently issued research reports about the stock. Seaport Res Ptn cut shares of Plug Power from a "buy" rating to a "neutral" rating in a research note on Tuesday, February 6th. Susquehanna cut their target price on shares of Plug Power from $4.50 to $3.50 and set a "neutral" rating for the company in a research note on Wednesday, January 24th. Marathon Capitl restated an "equal weight" rating on shares of Plug Power in a research report on Tuesday, March 26th. Truist Financial boosted their price objective on shares of Plug Power from $3.00 to $4.00 and gave the stock a "hold" rating in a research report on Wednesday, February 28th. Finally, Craig Hallum dropped their price objective on shares of Plug Power from $6.00 to $5.00 and set a "buy" rating for the company in a research report on Monday, March 4th. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Plug Power currently has an average rating of "Hold" and a consensus target price of $6.05.

Plug Power Price Performance

NASDAQ PLUG traded down $0.01 during trading on Friday, reaching $3.14. 30,375,479 shares of the company traded hands, compared to its average volume of 43,565,664. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.86 and a current ratio of 1.85. The stock's 50 day moving average price is $3.70 and its two-hundred day moving average price is $4.62. The company has a market cap of $2.15 billion, a price-to-earnings ratio of -1.37 and a beta of 1.54. Plug Power has a 1-year low of $2.26 and a 1-year high of $13.44.

Plug Power (NASDAQ:PLUG - Get Free Report) last released its quarterly earnings data on Friday, March 1st. The electronics maker reported ($1.08) earnings per share for the quarter, missing analysts' consensus estimates of ($0.56) by ($0.52). Plug Power had a negative net margin of 153.57% and a negative return on equity of 38.09%. The company had revenue of $222.20 million for the quarter, compared to analyst estimates of $234.21 million. During the same period in the previous year, the firm posted ($0.38) earnings per share. The firm's revenue for the quarter was up .7% compared to the same quarter last year. As a group, analysts anticipate that Plug Power will post -0.94 EPS for the current year.

Hedge Funds Weigh In On Plug Power

Large investors have recently added to or reduced their stakes in the company. ICA Group Wealth Management LLC bought a new position in Plug Power during the 4th quarter worth about $35,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Plug Power during the 1st quarter worth about $41,000. Millburn Ridgefield Corp acquired a new position in shares of Plug Power during the 3rd quarter worth about $29,000. Exchange Traded Concepts LLC boosted its stake in shares of Plug Power by 30.3% during the 3rd quarter. Exchange Traded Concepts LLC now owns 6,486 shares of the electronics maker's stock worth $49,000 after buying an additional 1,510 shares during the last quarter. Finally, Ossiam boosted its stake in shares of Plug Power by 32.5% during the 1st quarter. Ossiam now owns 6,712 shares of the electronics maker's stock worth $79,000 after buying an additional 1,646 shares during the last quarter. Institutional investors own 43.48% of the company's stock.

Plug Power Company Profile

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.