Wall Street Zen Downgrades Plug Power (NASDAQ:PLUG) to Sell

Key Points

• Wall Street Zen downgraded Plug Power to "Sell" from "Hold", adding to mixed analyst coverage — MarketBeat shows a consensus rating of "Hold" with a consensus price target of $2.50.
• Stock and fundamentals remain weak: PLUG opened at $2.24 (52‑week range $0.69–$4.58) with a $2.59B market cap, negative EPS and margins, and sell‑side estimates calling for about -$1.21 EPS for the year.
• Insider sale amid heavy institutional activity: an EVP sold 10,000 shares, while investors including Two Sigma and Vanguard substantially increased positions — institutions now own roughly 43.5% of the stock.

Plug Power (NASDAQ:PLUG - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Sunday.

Other analysts also recently issued reports about the company. Weiss Ratings restated a "sell (d-)" rating on shares of Plug Power in a report on Wednesday, October 8th. HC Wainwright boosted their price target on shares of Plug Power from $3.00 to $7.00 and gave the company a "buy" rating in a report on Friday, October 3rd. Canaccord Genuity Group increased their price objective on shares of Plug Power from $1.25 to $2.50 and gave the company a "hold" rating in a research note on Tuesday, November 11th. Wells Fargo & Company boosted their price objective on shares of Plug Power from $1.00 to $1.50 and gave the stock an "equal weight" rating in a research note on Thursday, August 14th. Finally, BMO Capital Markets lowered their target price on Plug Power from $1.10 to $1.00 and set an "underperform" rating for the company in a report on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have given a Hold rating and six have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $2.50.

Plug Power Stock Down 10.0%

Shares of NASDAQ PLUG opened at $2.24 on Friday. Plug Power has a 52-week low of $0.69 and a 52-week high of $4.58. The firm has a market capitalization of $2.59 billion, a price-to-earnings ratio of -0.97 and a beta of 2.28. The stock has a 50 day moving average price of $2.71 and a 200 day moving average price of $1.79. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 1.59.

Plug Power (NASDAQ:PLUG - Get Free Report) last issued its earnings results on Monday, November 10th. The electronics maker reported ($0.12) earnings per share for the quarter, beating analysts' consensus estimates of ($0.13) by $0.01. Plug Power had a negative return on equity of 90.22% and a negative net margin of 292.84%.The business had revenue of $177.06 million during the quarter, compared to analyst estimates of $185.41 million. Plug Power has set its FY 2025 guidance at EPS. Sell-side analysts expect that Plug Power will post -1.21 earnings per share for the current year.

Insider Buying and Selling at Plug Power

In other news, EVP Benjamin Haycraft sold 10,000 shares of the company's stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $2.92, for a total transaction of $29,200.00. Following the transaction, the executive vice president owned 467,583 shares in the company, valued at $1,365,342.36. This represents a 2.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.41% of the company's stock.

Institutional Trading of Plug Power

Large investors have recently bought and sold shares of the stock. Heights Capital Management Inc. acquired a new stake in shares of Plug Power during the first quarter worth $31,174,000. Two Sigma Investments LP raised its stake in Plug Power by 292.1% in the 3rd quarter. Two Sigma Investments LP now owns 10,830,893 shares of the electronics maker's stock worth $25,236,000 after acquiring an additional 8,068,713 shares during the last quarter. Vanguard Group Inc. raised its stake in Plug Power by 7.6% in the 3rd quarter. Vanguard Group Inc. now owns 109,631,956 shares of the electronics maker's stock worth $255,442,000 after acquiring an additional 7,789,039 shares during the last quarter. Legal & General Group Plc lifted its position in 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 acquiring an additional 6,364,483 shares during the period. Finally, Electron Capital Partners LLC purchased a new stake in Plug Power during the 3rd quarter valued at about $10,663,000. Hedge funds and other 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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