Plug Power (NASDAQ:PLUG) Upgraded to "Strong Sell" at Evercore ISI

Plug Power (NASDAQ:PLUG - Get Free Report) was upgraded by equities researchers at Evercore ISI to a "strong sell" rating in a report issued on Tuesday,Zacks.com reports.

Several other equities research analysts have also issued reports on the stock. UBS Group lowered their target price on shares of Plug Power from $2.50 to $1.75 and set a "neutral" rating for the company in a report on Friday, March 21st. Canaccord Genuity Group decreased their price objective on shares of Plug Power from $1.25 to $1.00 and set a "hold" rating for the company in a report on Tuesday, May 13th. Wall Street Zen upgraded shares of Plug Power to a "sell" rating in a report on Tuesday, May 13th. Wells Fargo & Company reduced their price target on shares of Plug Power from $2.00 to $1.00 and set an "equal weight" rating for the company in a report on Wednesday, May 14th. Finally, Roth Capital restated a "buy" rating on shares of Plug Power in a report on Tuesday, May 13th. Six research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $1.87.

Plug Power Stock Performance

Shares of PLUG traded up $0.11 during mid-day trading on Tuesday, hitting $1.90. 95,606,893 shares of the company traded hands, compared to its average volume of 71,891,744. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.07 and a current ratio of 1.95. The stock has a 50-day moving average price of $1.16 and a two-hundred day moving average price of $1.45. Plug Power has a 1 year low of $0.69 and a 1 year high of $3.32. The stock has a market cap of $2.17 billion, a price-to-earnings ratio of -0.76 and a beta of 2.29.

Plug Power (NASDAQ:PLUG - Get Free Report) last announced its earnings results on Monday, May 12th. The electronics maker reported ($0.21) EPS for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.01). The business had revenue of $133.67 million for the quarter, compared to analysts' expectations of $130.92 million. Plug Power had a negative net margin of 312.29% and a negative return on equity of 82.21%. Equities analysts anticipate that Plug Power will post -1.21 earnings per share for the current year.

Insider Transactions at Plug Power

In related news, insider Paul B. Middleton acquired 650,000 shares of the firm's stock in a transaction on Monday, June 9th. The shares were acquired at an average cost of $1.03 per share, with a total value of $669,500.00. Following the completion of the acquisition, the insider directly owned 2,558,064 shares in the company, valued at approximately $2,634,805.92. This trade represents a 34.07% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.41% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Plug Power

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Plug Power by 4.5% in the first quarter. Vanguard Group Inc. now owns 91,368,845 shares of the electronics maker's stock valued at $123,348,000 after buying an additional 3,930,342 shares during the last quarter. Norges Bank acquired a new stake in Plug Power during the fourth quarter worth about $146,465,000. Heights Capital Management Inc. acquired a new stake in Plug Power during the first quarter worth about $31,174,000. Geode Capital Management LLC increased its position in Plug Power by 3.8% during the fourth quarter. Geode Capital Management LLC now owns 19,917,268 shares of the electronics maker's stock worth $42,434,000 after purchasing an additional 722,639 shares during the last quarter. Finally, Legal & General Group Plc increased its position in Plug Power by 8.5% during the fourth quarter. Legal & General Group Plc now owns 10,141,849 shares of the electronics maker's stock worth $21,602,000 after purchasing an additional 796,774 shares during the last quarter. 43.48% of the stock is currently owned by institutional investors and hedge funds.

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.