Plug Power (PLUG) Stock Rating Lowered by BidaskClub

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BidaskClub downgraded shares of Plug Power (NASDAQ:PLUG) from a sell rating to a strong sell rating in a research report released on Friday morning.

Other equities research analysts have also recently issued reports about the company. Cowen set a $3.00 target price on Plug Power and gave the company a buy rating in a report on Tuesday, October 16th. HC Wainwright set a $4.00 target price on Plug Power and gave the company a buy rating in a report on Tuesday, October 16th. Zacks Investment Research upgraded Plug Power from a hold rating to a buy rating and set a $2.00 target price for the company in a report on Tuesday, October 16th. Finally, ValuEngine upgraded Plug Power from a hold rating to a buy rating in a report on Tuesday, October 16th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $2.94.

Shares of Plug Power stock opened at $1.34 on Friday. The company has a debt-to-equity ratio of 10.93, a quick ratio of 0.60 and a current ratio of 1.06. The stock has a market cap of $312.74 million, a PE ratio of -2.23 and a beta of 1.90. Plug Power has a 12 month low of $0.99 and a 12 month high of $2.27.

Plug Power (NASDAQ:PLUG) last issued its earnings results on Thursday, November 8th. The electronics maker reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.01. The company had revenue of $55.30 million during the quarter, compared to analysts’ expectations of $50.44 million. Plug Power had a negative return on equity of 170.62% and a negative net margin of 52.31%. Plug Power’s quarterly revenue was down 10.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.06) EPS. Research analysts forecast that Plug Power will post -0.33 EPS for the current year.

A number of hedge funds have recently modified their holdings of PLUG. KBC Group NV increased its holdings in shares of Plug Power by 3.8% in the fourth quarter. KBC Group NV now owns 524,923 shares of the electronics maker’s stock worth $651,000 after purchasing an additional 19,138 shares during the last quarter. First Trust Advisors LP lifted its position in Plug Power by 10.1% in the fourth quarter. First Trust Advisors LP now owns 218,919 shares of the electronics maker’s stock valued at $271,000 after acquiring an additional 20,067 shares during the last quarter. Alps Advisors Inc. lifted its position in Plug Power by 32.2% in the fourth quarter. Alps Advisors Inc. now owns 119,690 shares of the electronics maker’s stock valued at $148,000 after acquiring an additional 29,181 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Plug Power in the third quarter valued at $121,000. Finally, Rhumbline Advisers lifted its position in Plug Power by 46.1% in the fourth quarter. Rhumbline Advisers now owns 284,208 shares of the electronics maker’s stock valued at $352,000 after acquiring an additional 89,744 shares during the last quarter. Institutional investors own 26.84% of the company’s stock.

Plug Power Company Profile

Plug Power Inc, an alternative energy technology provider, engages in the design, development, commercialization, and manufacture of hydrogen and fuel cell systems for the material handling and stationary power markets primarily in North America and Europe. It focuses on proton exchange membrane (PEM) fuel cell and fuel processing technologies, fuel cell/battery hybrid technologies, and related hydrogen storage and dispensing infrastructure.

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Analyst Recommendations for Plug Power (NASDAQ:PLUG)

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