ValuEngine Downgrades Plug Power (NASDAQ:PLUG) to Sell

Plug Power (NASDAQ:PLUG) was downgraded by research analysts at ValuEngine from a “hold” rating to a “sell” rating in a report released on Monday, December 4th.

Other research analysts have also issued research reports about the stock. Cowen reaffirmed a “buy” rating and set a $3.00 price objective on shares of Plug Power in a research report on Tuesday, October 17th. Craig Hallum upped their target price on shares of Plug Power from $3.00 to $4.00 and gave the company a “buy” rating in a research note on Friday, October 6th. HC Wainwright set a $4.00 target price on shares of Plug Power and gave the company a “buy” rating in a research note on Wednesday, August 9th. B. Riley reaffirmed a “buy” rating and set a $3.50 price objective on shares of Plug Power in a research note on Thursday, November 9th. Finally, FBR & Co reaffirmed a “buy” rating on shares of Plug Power in a research note on Tuesday, October 31st. Four investment analysts have rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $3.23.

Plug Power (NASDAQ:PLUG) traded down $0.07 on Monday, hitting $2.36. The stock had a trading volume of 3,770,429 shares, compared to its average volume of 3,212,341. Plug Power has a 52 week low of $0.83 and a 52 week high of $3.21. The company has a market capitalization of $555.18, a PE ratio of -3.87 and a beta of 1.66. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.86 and a current ratio of 1.29.

Plug Power (NASDAQ:PLUG) last announced its earnings results on Wednesday, November 8th. The electronics maker reported ($0.04) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.04). The firm had revenue of $61.43 million for the quarter, compared to analysts’ expectations of $54.57 million. Plug Power had a negative return on equity of 83.93% and a negative net margin of 96.27%. The firm’s quarterly revenue was up 249.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.07 earnings per share. equities analysts forecast that Plug Power will post -0.51 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in PLUG. Brighton Jones LLC acquired a new position in Plug Power in the second quarter valued at approximately $102,000. Adalta Capital Management LLC acquired a new stake in Plug Power in the second quarter worth $106,000. Archford Capital Strategies LLC raised its holdings in Plug Power by 20,422.2% in the second quarter. Archford Capital Strategies LLC now owns 1,847 shares of the electronics maker’s stock worth $115,000 after purchasing an additional 1,838 shares during the period. Creative Planning raised its holdings in Plug Power by 41.5% in the second quarter. Creative Planning now owns 70,472 shares of the electronics maker’s stock worth $144,000 after purchasing an additional 20,673 shares during the period. Finally, Virtu KCG Holdings LLC raised its holdings in Plug Power by 126.4% in the second quarter. Virtu KCG Holdings LLC now owns 92,497 shares of the electronics maker’s stock worth $189,000 after purchasing an additional 51,638 shares during the period. Institutional investors and hedge funds own 24.30% of the company’s stock.

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Plug Power Company Profile

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Plug Power (NASDAQ:PLUG)

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