BidaskClub cut shares of Plug Power (NASDAQ:PLUG) from a hold rating to a sell rating in a report issued on Wednesday morning.
A number of other analysts also recently weighed in on the stock. Zacks Investment Research raised shares of Plug Power from a hold rating to a buy rating and set a $2.00 price target for the company in a research report on Tuesday. ValuEngine raised shares of Plug Power from a hold rating to a buy rating in a research report on Friday, November 16th. HC Wainwright set a $4.00 price target on shares of Plug Power and gave the stock a buy rating in a research report on Friday, November 9th. Finally, Cowen set a $3.00 price target on shares of Plug Power and gave the stock a buy rating in a research report on Tuesday, October 16th. One research analyst has 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 presently has an average rating of Buy and an average price target of $3.29.
PLUG stock opened at $1.57 on Wednesday. Plug Power has a twelve month low of $1.53 and a twelve month high of $2.48. The company has a debt-to-equity ratio of 10.93, a current ratio of 1.06 and a quick ratio of 0.60.
Plug Power (NASDAQ:PLUG) last released its quarterly earnings results on Thursday, November 8th. The electronics maker reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. Plug Power had a negative net margin of 52.31% and a negative return on equity of 170.62%. The business had revenue of $55.30 million during the quarter, compared to the consensus estimate of $50.44 million. During the same quarter last year, the company earned ($0.06) earnings per share. The business’s quarterly revenue was down 10.0% compared to the same quarter last year. As a group, equities analysts forecast that Plug Power will post -0.33 EPS for the current fiscal year.
In related news, insider Gerard L. Conway, Jr. sold 100,000 shares of the firm’s stock in a transaction on Monday, October 15th. The stock was sold at an average price of $1.86, for a total transaction of $186,000.00. Following the transaction, the insider now directly owns 110,519 shares in the company, valued at $205,565.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gregory B. Graves sold 31,343 shares of the firm’s stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $1.73, for a total value of $54,223.39. Following the transaction, the director now owns 43,296 shares in the company, valued at $74,902.08. The disclosure for this sale can be found here. Company insiders own 5.10% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in PLUG. Odey Asset Management Group Ltd lifted its stake in Plug Power by 90.3% during the second quarter. Odey Asset Management Group Ltd now owns 4,910,000 shares of the electronics maker’s stock worth $9,918,000 after purchasing an additional 2,330,000 shares during the last quarter. Vanguard Group Inc. lifted its stake in Plug Power by 1.9% during the third quarter. Vanguard Group Inc. now owns 10,460,068 shares of the electronics maker’s stock worth $20,082,000 after purchasing an additional 194,903 shares during the last quarter. Nomura Holdings Inc. lifted its stake in Plug Power by 67.2% during the second quarter. Nomura Holdings Inc. now owns 369,608 shares of the electronics maker’s stock worth $747,000 after purchasing an additional 148,511 shares during the last quarter. Global X Management Co LLC bought a new position in Plug Power during the second quarter worth $266,000. Finally, BlackRock Inc. lifted its stake in Plug Power by 0.9% during the second quarter. BlackRock Inc. now owns 14,625,123 shares of the electronics maker’s stock worth $29,543,000 after purchasing an additional 125,482 shares during the last quarter. Hedge funds and other institutional investors own 27.03% of the company’s stock.
Plug Power Company Profile
Plug Power Inc, an alternative energy technology provider, engages in the design, development, commercialization, and manufacture of hydrogen and fuel cell systems for the material handling and stationary power markets primarily in North America and Europe. It focuses on proton exchange membrane (PEM) fuel cell and fuel processing technologies, fuel cell/battery hybrid technologies, and related hydrogen storage and dispensing infrastructure.
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