Zacks Investment Research lowered shares of Plug Power (NASDAQ:PLUG) from a hold rating to a sell rating in a research report report published on Wednesday, February 14th.
According to Zacks, “Plug Power Inc. is a leading provider of alternative energy technology focused on the design, development, commercialization and manufacture of hydrogen fuel cell systems used primarily for the material handling and stationary power market. They are focused on proton exchange membrane, or PEM, fuel cell and fuel processing technologies, fuel cell/battery hybrid technologies, and associated hydrogen storage and dispensing infrastructure from which multiple products are available. They sell and continue to develop fuel cell product solutions to replace lead-acid batteries in material handling vehicles and industrial trucks for some of North America’s largest distribution and manufacturing businesses. Their current product line includes: GenDrive, GenFuel, GenCare, ReliOn, and GenKey. “
Several other equities analysts have also commented on the company. B. Riley restated a buy rating and set a $3.50 price target on shares of Plug Power in a research note on Thursday, December 7th. ValuEngine lowered Plug Power from a hold rating to a sell rating in a research note on Monday, December 4th. FBR & Co reaffirmed a buy rating on shares of Plug Power in a report on Tuesday, October 31st. Cowen reaffirmed a buy rating and set a $3.00 target price on shares of Plug Power in a report on Tuesday, October 17th. Finally, HC Wainwright reaffirmed a buy rating and set a $4.00 target price on shares of Plug Power in a report on Thursday, November 9th. Four equities research 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. Plug Power currently has a consensus rating of Hold and a consensus target price of $3.28.
Shares of Plug Power (NASDAQ:PLUG) traded up $0.22 during trading on Wednesday, hitting $1.99. The stock had a trading volume of 10,153,200 shares, compared to its average volume of 3,559,144. The stock has a market capitalization of $404.39, a price-to-earnings ratio of -3.26 and a beta of 1.52. 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 has a 1 year low of $0.92 and a 1 year high of $3.21.
Institutional investors have recently bought and sold shares of the company. Archford Capital Strategies LLC increased 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 valued at $115,000 after buying an additional 1,838 shares during the last quarter. MetLife Investment Advisors LLC acquired a new stake in shares of Plug Power during the 4th quarter valued at $127,000. Teacher Retirement System of Texas lifted its position in shares of Plug Power by 315.6% during the 4th quarter. Teacher Retirement System of Texas now owns 75,409 shares of the electronics maker’s stock valued at $178,000 after acquiring an additional 57,263 shares during the last quarter. Virtu KCG Holdings LLC lifted its position in shares of Plug Power by 126.4% during the 2nd quarter. Virtu KCG Holdings LLC now owns 92,497 shares of the electronics maker’s stock valued at $189,000 after acquiring an additional 51,638 shares during the last quarter. Finally, Voya Investment Management LLC lifted its position in shares of Plug Power by 23.2% during the 2nd quarter. Voya Investment Management LLC now owns 105,772 shares of the electronics maker’s stock valued at $216,000 after acquiring an additional 19,904 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.
WARNING: “Zacks Investment Research Lowers Plug Power (PLUG) to Sell” was originally published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this piece on another website, it was copied illegally and republished in violation of international trademark and copyright legislation. The original version of this piece can be viewed at https://www.dispatchtribunal.com/2018/02/22/plug-power-plug-downgraded-to-sell-at-zacks-investment-research.html.
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.
Get a free copy of the Zacks research report on Plug Power (PLUG)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Plug Power Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Plug Power and related companies with MarketBeat.com's FREE daily email newsletter.