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

StockNews.com upgraded shares of Plug Power (NASDAQ:PLUG - Free Report) to a sell rating in a research note released on Wednesday.

Several other equities research analysts have also recently weighed in on PLUG. HC Wainwright reaffirmed a "buy" rating and set a $18.00 price objective on shares of Plug Power in a research report on Wednesday, November 13th. Canaccord Genuity Group reduced their price target on shares of Plug Power from $2.50 to $2.25 and set a "hold" rating on the stock in a research report on Wednesday, November 13th. Evercore ISI decreased their price objective on shares of Plug Power from $5.00 to $4.00 and set an "outperform" rating on the stock in a research note on Wednesday, November 13th. BTIG Research cut Plug Power from a "buy" rating to a "neutral" rating in a research note on Thursday, November 14th. Finally, Wells Fargo & Company decreased their price target on Plug Power from $3.00 to $2.00 and set an "equal weight" rating on the stock in a research note on Thursday, November 14th. Five 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 stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $4.55.

Plug Power Stock Performance

PLUG stock traded up $0.06 during trading hours on Wednesday, hitting $2.09. 46,883,586 shares of the stock were exchanged, compared to its average volume of 79,847,727. The company has a 50-day simple moving average of $2.36 and a two-hundred day simple moving average of $2.25. The firm has a market capitalization of $1.90 billion, a P/E ratio of -0.97 and a beta of 1.79. Plug Power has a 12 month low of $1.60 and a 12 month high of $5.14. The company has a current ratio of 2.08, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15.

Plug Power (NASDAQ:PLUG - Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.01). The company had revenue of $173.70 million for the quarter, compared to analyst estimates of $207.25 million. Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. The company's quarterly revenue was down 12.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.47) EPS. On average, analysts forecast that Plug Power will post -1.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Plug Power

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Profund Advisors LLC bought a new stake in shares of Plug Power in the 2nd quarter valued at $29,000. Prio Wealth Limited Partnership acquired a new position in Plug Power during the 3rd quarter worth approximately $29,000. Catalyst Capital Advisors LLC boosted its holdings in Plug Power by 79.9% in the third quarter. Catalyst Capital Advisors LLC now owns 12,681 shares of the electronics maker's stock worth $29,000 after acquiring an additional 5,631 shares in the last quarter. Millburn Ridgefield Corp grew its stake in Plug Power by 79.9% in the third quarter. Millburn Ridgefield Corp now owns 12,681 shares of the electronics maker's stock valued at $29,000 after acquiring an additional 5,631 shares during the period. Finally, First Commonwealth Financial Corp PA bought a new stake in shares of Plug Power during the third quarter valued at approximately $29,000. Institutional investors and hedge funds 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.