Plug Power (NASDAQ:PLUG) Cut to “Strong Sell” at BidaskClub

BidaskClub downgraded shares of Plug Power (NASDAQ:PLUG) from a sell rating to a strong sell rating in a research report released on Wednesday, January 10th.

Other research analysts have also issued research reports about the stock. B. Riley reissued a buy rating on shares of Plug Power in a research note on Wednesday, November 1st. Zacks Investment Research upgraded shares of Plug Power from a hold rating to a buy rating and set a $2.50 price target for the company in a research note on Wednesday, January 10th. HC Wainwright reiterated a buy rating and issued a $4.00 price target on shares of Plug Power in a research note on Thursday, December 7th. Cowen reiterated a buy rating and issued a $3.00 price target on shares of Plug Power in a research note on Sunday, September 17th. Finally, Canaccord Genuity started coverage on shares of Plug Power in a research note on Friday, December 1st. They issued a buy rating and a $5.00 price target for the company. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. Plug Power currently has a consensus rating of Hold and an average target price of $3.23.

Plug Power (NASDAQ:PLUG) traded down $0.07 during trading on Wednesday, reaching $2.28. 4,126,100 shares of the company traded hands, compared to its average volume of 3,339,930. Plug Power has a 52-week low of $0.83 and a 52-week high of $3.21. The firm has a market capitalization of $520.91, a PE ratio of -3.74 and a beta of 1.64. The company has a current ratio of 1.29, a quick ratio of 0.86 and a debt-to-equity ratio of 0.62.

Plug Power (NASDAQ:PLUG) last posted its quarterly earnings data on Wednesday, November 8th. The electronics maker reported ($0.04) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.04). Plug Power had a negative net margin of 96.27% and a negative return on equity of 83.93%. The business had revenue of $61.43 million during the quarter, compared to analyst estimates of $54.57 million. During the same quarter last year, the firm posted $0.07 earnings per share. The business’s revenue for the quarter was up 249.0% compared to the same quarter last year. research analysts anticipate that Plug Power will post -0.51 earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the company. Swiss National Bank increased its holdings in shares of Plug Power by 15.3% in the 2nd quarter. Swiss National Bank now owns 325,200 shares of the electronics maker’s stock valued at $663,000 after acquiring an additional 43,100 shares during the period. Schwab Charles Investment Management Inc. increased its stake in Plug Power by 58.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,217,301 shares of the electronics maker’s stock valued at $2,484,000 after buying an additional 448,639 shares during the period. EAM Investors LLC increased its stake in Plug Power by 83.0% in the 3rd quarter. EAM Investors LLC now owns 543,608 shares of the electronics maker’s stock valued at $1,419,000 after buying an additional 246,620 shares during the period. State Street Corp increased its stake in Plug Power by 14.6% in the 2nd quarter. State Street Corp now owns 3,742,566 shares of the electronics maker’s stock valued at $7,635,000 after buying an additional 477,438 shares during the period. Finally, TIAA CREF Investment Management LLC increased its stake in Plug Power by 14.0% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 851,166 shares of the electronics maker’s stock valued at $1,736,000 after buying an additional 104,319 shares during the period. 24.30% of the stock is currently owned by institutional investors and hedge funds.

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About Plug Power

Plug Power Inc is a provider of alternative energy technology focused on the design, development, commercialization and manufacture of hydrogen fuel cell systems used for the industrial off-road market and the stationary power market. The Company’s product line includes GenKey, GenDrive, GenFuel, GenCare and ReliOn.

Analyst Recommendations for Plug Power (NASDAQ:PLUG)

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