Recent Investment Analysts’ Ratings Updates for Plug Power (PLUG)


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Plug Power (NASDAQ: PLUG) recently received a number of ratings updates from brokerages and research firms:

  • 4/6/2021 – Plug Power had its price target lowered by analysts at Piper Sandler from $48.00 to $42.00.
  • 3/30/2021 – Plug Power had its price target lowered by analysts at JPMorgan Chase & Co. from $61.00 to $51.00. They now have an “overweight” rating on the stock.
  • 3/30/2021 – Plug Power is now covered by analysts at Northcoast Research. They set a “neutral” rating on the stock.
  • 3/25/2021 – Plug Power was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Plug Power Inc. is a leading provider of alternative energy technology focused on the design, development, commercialization and manufacture of hydrogen fuel cell systems used primarily for the material handling and stationary power market. They are focused on proton exchange membrane, or PEM, fuel cell and fuel processing technologies, fuel cell/battery hybrid technologies, and associated hydrogen storage and dispensing infrastructure from which multiple products are available. They sell and continue to develop fuel cell product solutions to replace lead-acid batteries in material handling vehicles and industrial trucks for some of North America’s largest distribution and manufacturing businesses. Their current product line includes: GenDrive, GenFuel, GenCare, ReliOn, and GenKey. “
  • 3/23/2021 – Plug Power had its “hold” rating reaffirmed by analysts at Truist Securities. They now have a $42.00 price target on the stock, down previously from $65.00.
  • 3/23/2021 – Plug Power had its price target lowered by analysts at Craig Hallum from $88.00 to $49.00. They now have a “buy” rating on the stock.
  • 3/17/2021 – Plug Power was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Plug Power Inc. is a leading provider of alternative energy technology focused on the design, development, commercialization and manufacture of hydrogen fuel cell systems used primarily for the material handling and stationary power market. They are focused on proton exchange membrane, or PEM, fuel cell and fuel processing technologies, fuel cell/battery hybrid technologies, and associated hydrogen storage and dispensing infrastructure from which multiple products are available. They sell and continue to develop fuel cell product solutions to replace lead-acid batteries in material handling vehicles and industrial trucks for some of North America’s largest distribution and manufacturing businesses. Their current product line includes: GenDrive, GenFuel, GenCare, ReliOn, and GenKey. “
  • 3/17/2021 – Plug Power was downgraded by analysts at Truist Financial Co. from a “buy” rating to a “hold” rating.
  • 3/17/2021 – Plug Power had its price target lowered by analysts at Truist Securities from $65.00 to $42.00. They now have a “hold” rating on the stock.
  • 3/17/2021 – Plug Power was downgraded by analysts at Truist from a “buy” rating to a “hold” rating.
  • 3/17/2021 – Plug Power had its price target lowered by analysts at Craig Hallum from $88.00 to $49.00. They now have a “buy” rating on the stock.
  • 3/8/2021 – Plug Power had its “underweight” rating reaffirmed by analysts at Barclays PLC. They now have a $29.00 price target on the stock, up previously from $21.00.
  • 3/8/2021 – Plug Power was upgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating. They now have a $65.00 price target on the stock.
  • 3/8/2021 – Plug Power had its “buy” rating reaffirmed by analysts at Roth Capital. They now have a $65.00 price target on the stock.
  • 3/2/2021 – Plug Power was downgraded by analysts at Barclays PLC from an “equal weight” rating to an “underweight” rating. They now have a $29.00 price target on the stock, up previously from $21.00.
  • 3/2/2021 – Plug Power was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Plug Power Inc. is a leading provider of alternative energy technology focused on the design, development, commercialization and manufacture of hydrogen fuel cell systems used primarily for the material handling and stationary power market. They are focused on proton exchange membrane, or PEM, fuel cell and fuel processing technologies, fuel cell/battery hybrid technologies, and associated hydrogen storage and dispensing infrastructure from which multiple products are available. They sell and continue to develop fuel cell product solutions to replace lead-acid batteries in material handling vehicles and industrial trucks for some of North America’s largest distribution and manufacturing businesses. Their current product line includes: GenDrive, GenFuel, GenCare, ReliOn, and GenKey. “
  • 3/1/2021 – Plug Power was upgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating. They now have a $65.00 price target on the stock.
  • 3/1/2021 – Plug Power had its “buy” rating reaffirmed by analysts at Roth Capital. They now have a $65.00 price target on the stock.
  • 2/27/2021 – Plug Power was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $49.00 price target on the stock. According to Zacks, “Plug Power Inc. is a leading provider of alternative energy technology focused on the design, development, commercialization and manufacture of hydrogen fuel cell systems used primarily for the material handling and stationary power market. They are focused on proton exchange membrane, or PEM, fuel cell and fuel processing technologies, fuel cell/battery hybrid technologies, and associated hydrogen storage and dispensing infrastructure from which multiple products are available. They sell and continue to develop fuel cell product solutions to replace lead-acid batteries in material handling vehicles and industrial trucks for some of North America’s largest distribution and manufacturing businesses. Their current product line includes: GenDrive, GenFuel, GenCare, ReliOn, and GenKey. “
  • 2/26/2021 – Plug Power had its “outperform” rating reaffirmed by analysts at Cowen Inc. They now have a $75.00 price target on the stock, down previously from $82.00.
  • 2/26/2021 – Plug Power had its price target lowered by analysts at Cowen Inc from $82.00 to $75.00. They now have an “outperform” rating on the stock.
  • 2/26/2021 – Plug Power had its price target lowered by analysts at Piper Sandler from $66.00 to $48.00. They now have a “neutral” rating on the stock.
  • 2/26/2021 – Plug Power was downgraded by analysts at TheStreet from a “c-” rating to a “d” rating.

Shares of NASDAQ PLUG traded up $0.91 during trading on Thursday, hitting $32.87. The company had a trading volume of 1,044,432 shares, compared to its average volume of 41,708,883. The stock has a fifty day simple moving average of $42.35 and a two-hundred day simple moving average of $35.66. Plug Power Inc. has a fifty-two week low of $3.66 and a fifty-two week high of $75.49. The firm has a market capitalization of $15.42 billion, a price-to-earnings ratio of -99.61 and a beta of 1.81. The company has a quick ratio of 2.44, a current ratio of 2.95 and a debt-to-equity ratio of 0.91.

Plug Power (NASDAQ:PLUG) last posted its quarterly earnings results on Thursday, February 25th. The electronics maker reported ($1.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($1.04). The business had revenue of $139.66 million for the quarter, compared to analyst estimates of $84.93 million. Plug Power had a negative return on equity of 37.12% and a negative net margin of 33.75%. On average, analysts anticipate that Plug Power Inc. will post -0.34 earnings per share for the current year.

In other Plug Power news, CEO Andrew Marsh sold 573,268 shares of Plug Power stock in a transaction dated Tuesday, January 19th. The shares were sold at an average price of $65.82, for a total transaction of $37,732,499.76. Following the transaction, the chief executive officer now directly owns 855,280 shares of the company’s stock, valued at $56,294,529.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jonathan M. Silver sold 1,780 shares of Plug Power stock in a transaction dated Monday, January 11th. The stock was sold at an average price of $48.92, for a total transaction of $87,077.60. Following the transaction, the director now directly owns 42,888 shares in the company, valued at $2,098,080.96. The disclosure for this sale can be found here. Insiders have sold 595,048 shares of company stock worth $39,044,777 over the last 90 days. 4.50% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the company. National Asset Management Inc. raised its stake in shares of Plug Power by 33.7% in the 4th quarter. National Asset Management Inc. now owns 26,058 shares of the electronics maker’s stock valued at $884,000 after acquiring an additional 6,572 shares during the period. Patriot Financial Group Insurance Agency LLC purchased a new stake in Plug Power during the 4th quarter worth approximately $71,000. Engineers Gate Manager LP increased its stake in Plug Power by 107.8% during the 3rd quarter. Engineers Gate Manager LP now owns 68,546 shares of the electronics maker’s stock worth $919,000 after buying an additional 35,563 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Plug Power by 578.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 284,409 shares of the electronics maker’s stock worth $9,644,000 after buying an additional 242,476 shares during the period. Finally, Thornburg Investment Management Inc. purchased a new stake in Plug Power during the 4th quarter worth approximately $17,556,000. 50.89% of the stock is currently owned by institutional investors and hedge funds.

Plug Power, Inc provides alternative energy technology, which focuses on the design, development, commercialization, and manufacture of hydrogen and fuel cell systems used primarily for the material handling and stationary power markets. Its fuel cell system solution is designed to replace lead-acid batteries in electric material handling vehicles and industrial trucks for some distribution and manufacturing businesses.

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