Plug Power (NASDAQ:PLUG) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Plug Power (NASDAQ:PLUG) from a strong sell rating to a sell rating in a research report sent to investors on Saturday,Wall Street Zen reports.

Other equities analysts have also issued reports about the company. Craig Hallum reiterated a “buy” rating on shares of Plug Power in a research note on Tuesday, August 11th. Morgan Stanley reiterated an “underweight” rating and set a $1.20 target price on shares of Plug Power in a research report on Wednesday, October 14th. Jefferies Financial Group raised Plug Power to a “hold” rating in a research note on Thursday, September 3rd. UBS Group reissued a “buy” rating and issued a $5.00 price target on shares of Plug Power in a research note on Tuesday, August 11th. Finally, Roth Capital restated a “buy” rating and issued a $5.00 price target (up from $3.50) on shares of Plug Power in a report on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Plug Power presently has a consensus rating of “Hold” and an average target price of $3.40.

Plug Power Trading Down 0.7%

Shares of PLUG opened at $1.37 on Friday. The stock has a fifty day moving average of $2.01 and a two-hundred day moving average of $2.56. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.32 and a current ratio of 2.32. The company has a market capitalization of $1.91 billion, a PE ratio of -1.09 and a beta of 2.28. Plug Power has a fifty-two week low of $1.35 and a fifty-two week high of $4.33.

Plug Power (NASDAQ:PLUG) last issued its quarterly earnings results on Monday, August 10th. The electronics maker reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. Plug Power had a negative return on equity of 56.01% and a negative net margin of 220.59%. The company had revenue of $178.30 million for the quarter, compared to analyst estimates of $169.11 million. The company’s quarterly revenue was up 2.5% on a year-over-year basis. As a group, analysts forecast that Plug Power will post -0.25 EPS for the current year.

Insider Buying and Selling at Plug Power

In other Plug Power news, insider Benjamin Haycraft sold 200,000 shares of Plug Power stock in a transaction on Friday, September 18th. The shares were sold at an average price of $2.14, for a total value of $428,000.00. Following the transaction, the insider owned 101,249 shares in the company, valued at $216,672.86. This trade represents a 66.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 241,935 shares of company stock valued at $509,397. 1.37% of the stock is owned by company insiders.

Institutional Trading of Plug Power

A number of institutional investors and hedge funds have recently made changes to their positions in PLUG. BlackRock Inc. increased its position in shares of Plug Power by 21.0% in the second quarter. BlackRock Inc. now owns 184,032,469 shares of the electronics maker’s stock worth $498,728,000 after acquiring an additional 31,939,194 shares in the last quarter. Handelsbanken Fonder AB raised its stake in shares of Plug Power by 446.9% in the 2nd quarter. Handelsbanken Fonder AB now owns 19,014,270 shares of the electronics maker’s stock valued at $51,529,000 after acquiring an additional 15,537,320 shares during the period. Renaissance Technologies LLC raised its stake in shares of Plug Power by 97.4% in the 1st quarter. Renaissance Technologies LLC now owns 27,738,500 shares of the electronics maker’s stock valued at $62,689,000 after acquiring an additional 13,685,900 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Plug Power by 241.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 18,134,913 shares of the electronics maker’s stock valued at $40,971,000 after acquiring an additional 12,820,616 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of Plug Power by 6.1% during the 2nd quarter. State Street Corp now owns 38,763,529 shares of the electronics maker’s stock valued at $105,049,000 after acquiring an additional 2,214,427 shares in the last quarter. 43.48% of the stock is currently owned by institutional investors and hedge funds.

About Plug Power

Plug Power Inc is a clean-energy technology company that develops and supplies hydrogen and fuel-cell solutions. Its products include fuel-cell systems and engines for material-handling equipment, backup and stationary power, and other commercial and industrial applications. The company also provides electrolyzers for producing hydrogen, along with hydrogen generation, liquefaction, storage, and delivery services.

Plug Power serves customers in material handling, transportation, power generation, and industrial markets.