Plug Power (NASDAQ:PLUG) Receives Sell (D-) Rating from Weiss Ratings

Plug Power (NASDAQ:PLUG - Get Free Report)'s stock had its "sell (d-)" rating reissued by investment analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

PLUG has been the topic of several other research reports. Susquehanna boosted their target price on Plug Power from $1.00 to $1.80 and gave the company a "neutral" rating in a research report on Monday, July 21st. Jefferies Financial Group upped their price objective on Plug Power from $0.90 to $1.60 and gave the company a "hold" rating in a research report on Wednesday, July 23rd. BMO Capital Markets cut their price objective on Plug Power from $1.10 to $1.00 and set an "underperform" rating on the stock in a research report on Tuesday, August 12th. HC Wainwright upped their price objective on Plug Power from $3.00 to $7.00 and gave the company a "buy" rating in a research report on Friday, October 3rd. Finally, Evercore ISI raised Plug Power to a "strong sell" rating in a research report on Tuesday, July 15th. Five equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and six have given a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Reduce" and a consensus target price of $2.19.

Plug Power Stock Performance

NASDAQ PLUG opened at $3.65 on Wednesday. The company has a market cap of $4.22 billion, a P/E ratio of -1.58 and a beta of 2.23. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 1.59. The business's 50 day moving average price is $1.94 and its 200-day moving average price is $1.44. Plug Power has a fifty-two week low of $0.69 and a fifty-two week high of $4.58.

Plug Power (NASDAQ:PLUG - Get Free Report) last released its earnings results on Monday, August 11th. The electronics maker reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The company had revenue of $173.97 million for the quarter, compared to the consensus estimate of $157.97 million. Plug Power had a negative net margin of 292.84% and a negative return on equity of 90.22%. Sell-side analysts predict that Plug Power will post -1.21 earnings per share for the current year.

Hedge Funds Weigh In On Plug Power

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Plug Power by 4.5% during the 1st quarter. Vanguard Group Inc. now owns 91,368,845 shares of the electronics maker's stock worth $123,348,000 after buying an additional 3,930,342 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Plug Power by 14.9% during the 2nd quarter. Geode Capital Management LLC now owns 24,071,904 shares of the electronics maker's stock worth $35,872,000 after buying an additional 3,125,542 shares in the last quarter. Heights Capital Management Inc. bought a new position in shares of Plug Power during the 1st quarter worth $31,174,000. Legal & General Group Plc grew its position in shares of Plug Power by 59.9% during the 2nd quarter. Legal & General Group Plc now owns 16,980,865 shares of the electronics maker's stock worth $25,301,000 after buying an additional 6,364,483 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Plug Power by 45.8% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,027,081 shares of the electronics maker's stock worth $11,743,000 after buying an additional 2,521,348 shares in 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.

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