Plug Power (NASDAQ:PLUG) Raised to “Strong-Buy” at Clear Str

Plug Power (NASDAQ:PLUG) was upgraded by equities researchers at Clear Str from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other equities research analysts have also recently weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Plug Power in a report on Wednesday, October 8th. Hsbc Global Res raised Plug Power to a “strong-buy” rating in a report on Thursday, October 9th. Cowen reaffirmed a “buy” rating on shares of Plug Power in a research note on Wednesday, November 19th. Susquehanna reduced their price target on Plug Power from $3.50 to $2.50 and set a “neutral” rating for the company in a research report on Monday, November 17th. Finally, HSBC set a $4.40 price target on Plug Power in a research note on Thursday, October 9th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, six have issued a Hold rating and six have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $2.80.

Plug Power Price Performance

Shares of NASDAQ:PLUG opened at $1.97 on Wednesday. The company has a market cap of $2.74 billion, a PE ratio of -0.83 and a beta of 1.68. Plug Power has a fifty-two week low of $0.69 and a fifty-two week high of $4.58. The firm has a 50-day simple moving average of $2.27 and a 200 day simple moving average of $2.07. The company has a quick ratio of 0.70, a current ratio of 1.32 and a debt-to-equity ratio of 0.24.

Plug Power (NASDAQ:PLUG) last issued its earnings results on Monday, November 10th. The electronics maker reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.01. The firm had revenue of $177.06 million for the quarter, compared to analysts’ expectations of $185.41 million. Plug Power had a negative net margin of 313.69% and a negative return on equity of 105.98%. On average, sell-side analysts anticipate that Plug Power will post -1.21 EPS for the current year.

Insider Activity

In other Plug Power news, insider Jose Luis Crespo acquired 37,300 shares of the stock in a transaction dated Monday, December 15th. The shares were bought at an average price of $2.34 per share, with a total value of $87,282.00. Following the purchase, the insider directly owned 307,332 shares of the company’s stock, valued at approximately $719,156.88. This trade represents a 13.81% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Benjamin Haycraft sold 40,000 shares of the stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $2.20, for a total transaction of $88,000.00. Following the sale, the insider directly owned 373,809 shares of the company’s stock, valued at approximately $822,379.80. This represents a 9.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 60,000 shares of company stock worth $155,200. 0.56% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Plug Power by 7.6% during the 3rd quarter. Vanguard Group Inc. now owns 109,631,956 shares of the electronics maker’s stock valued at $255,442,000 after acquiring an additional 7,789,039 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Plug Power by 14.9% during the second quarter. Geode Capital Management LLC now owns 24,071,904 shares of the electronics maker’s stock worth $35,872,000 after purchasing an additional 3,125,542 shares during the period. Legal & General Group Plc raised its position in shares of Plug Power by 4.2% during the third quarter. Legal & General Group Plc now owns 17,695,077 shares of the electronics maker’s stock worth $41,230,000 after purchasing an additional 714,212 shares during the period. Two Sigma Investments LP lifted its holdings in shares of Plug Power by 292.1% during the third quarter. Two Sigma Investments LP now owns 10,830,893 shares of the electronics maker’s stock valued at $25,236,000 after purchasing an additional 8,068,713 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Plug Power by 18.9% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,545,805 shares of the electronics maker’s stock valued at $22,179,000 after purchasing an additional 1,518,724 shares during the period. Institutional investors and hedge funds own 43.48% of the company’s stock.

About Plug Power

Plug Power Inc is a U.S.-based company specializing in the design and manufacture of hydrogen fuel cell systems that serve as clean energy replacements for conventional batteries in electric vehicles and material handling equipment. Its core solutions include ProGen fuel cell engines, GenDrive power systems for forklifts and warehouse vehicles, and GenFuel hydrogen refueling infrastructure. These offerings are sold as standalone components or integrated turnkey solutions under the GenKey brand, providing customers with on-site refueling, equipment installation and maintenance services.

In addition to its fuel cell and refueling products, Plug Power develops backup power and off-grid energy solutions through its GenSure line, which targets telecommunications, data centers and utility applications.