Plug Power (NASDAQ:PLUG) Rating Increased to Hold at Wall Street Zen

Plug Power (NASDAQ:PLUG) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Other equities analysts have also recently issued reports about the company. Morgan Stanley restated an “underweight” rating and set a $1.50 price objective on shares of Plug Power in a research note on Thursday, October 16th. Hsbc Global Res upgraded shares of Plug Power to a “strong-buy” rating in a report on Thursday, October 9th. Susquehanna boosted their price target on shares of Plug Power from $1.80 to $3.50 and gave the stock a “neutral” rating in a report on Monday, October 13th. HC Wainwright upped their price objective on shares of Plug Power from $3.00 to $7.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. Finally, Jefferies Financial Group lifted their target price on shares of Plug Power from $0.90 to $1.60 and gave the stock a “hold” rating in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have assigned a Hold rating and six have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $2.54.

Plug Power Trading Up 5.6%

PLUG opened at $2.65 on Friday. Plug Power has a fifty-two week low of $0.69 and a fifty-two week high of $4.58. The firm has a market capitalization of $3.06 billion, a PE ratio of -1.15 and a beta of 2.28. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.59 and a quick ratio of 0.82. The company’s 50-day moving average is $2.61 and its 200 day moving average is $1.73.

Plug Power (NASDAQ:PLUG) last released its quarterly earnings results on Monday, August 11th. The electronics maker reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The company had revenue of $173.97 million for the quarter, compared to analyst estimates of $157.97 million. Plug Power had a negative net margin of 292.84% and a negative return on equity of 90.22%. As a group, research analysts predict that Plug Power will post -1.21 earnings per share for the current fiscal year.

Institutional Trading of Plug Power

Large investors have recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. grew its stake in shares of Plug Power by 138.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 202,387 shares of the electronics maker’s stock worth $273,000 after acquiring an additional 117,492 shares during the period. Teacher Retirement System of Texas purchased a new stake in Plug Power during the first quarter valued at about $153,000. Bank of New York Mellon Corp boosted its position in Plug Power by 0.7% during the first quarter. Bank of New York Mellon Corp now owns 2,470,629 shares of the electronics maker’s stock worth $3,335,000 after purchasing an additional 18,260 shares during the period. Alps Advisors Inc. increased its stake in shares of Plug Power by 3.5% in the first quarter. Alps Advisors Inc. now owns 1,447,796 shares of the electronics maker’s stock worth $1,955,000 after purchasing an additional 49,325 shares in the last quarter. Finally, Cerity Partners LLC raised its position in shares of Plug Power by 13.9% in the first quarter. Cerity Partners LLC now owns 269,156 shares of the electronics maker’s stock valued at $363,000 after purchasing an additional 32,769 shares during the period. 43.48% of the stock is owned by hedge funds and other institutional investors.

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.