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

Plug Power (NASDAQ:PLUG) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

PLUG has been the subject of several other reports. B. Riley Financial upped their price objective on shares of Plug Power from $3.00 to $5.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Susquehanna upped their price objective on shares of Plug Power from $2.75 to $3.75 and gave the stock a “neutral” rating in a report on Wednesday, May 13th. BTIG Research reaffirmed a “neutral” rating on shares of Plug Power in a report on Tuesday, March 3rd. BMO Capital Markets upped their price objective on shares of Plug Power from $1.00 to $1.20 and gave the stock an “underperform” rating in a report on Tuesday, May 12th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $7.00 price objective on shares of Plug Power in a report on Tuesday, March 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $3.42.

Plug Power Price Performance

NASDAQ PLUG opened at $2.76 on Friday. The company has a current ratio of 2.36, a quick ratio of 1.40 and a debt-to-equity ratio of 0.89. The company has a fifty day simple moving average of $3.26 and a 200 day simple moving average of $2.54. The company has a market cap of $3.85 billion, a P/E ratio of -2.09 and a beta of 2.12. Plug Power has a 1 year low of $1.03 and a 1 year high of $4.58.

Plug Power (NASDAQ:PLUG) last posted its quarterly earnings data on Monday, May 11th. The electronics maker reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.01. The business had revenue of $163.51 million during the quarter, compared to the consensus estimate of $139.87 million. Plug Power had a negative net margin of 227.13% and a negative return on equity of 49.30%. Plug Power’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.21) EPS. On average, sell-side analysts predict that Plug Power will post -0.26 EPS for the current year.

Hedge Funds Weigh In On Plug Power

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Rathbones Group PLC lifted its holdings in shares of Plug Power by 26.5% during the 1st quarter. Rathbones Group PLC now owns 38,641 shares of the electronics maker’s stock worth $87,000 after acquiring an additional 8,105 shares during the period. J. Derek Lewis & Associates Inc. lifted its holdings in shares of Plug Power by 7.7% during the 1st quarter. J. Derek Lewis & Associates Inc. now owns 292,555 shares of the electronics maker’s stock worth $661,000 after acquiring an additional 21,000 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Plug Power by 41.7% during the 1st quarter. Janus Henderson Group PLC now owns 621,428 shares of the electronics maker’s stock worth $1,401,000 after acquiring an additional 183,000 shares during the period. Amundi lifted its holdings in shares of Plug Power by 1.0% during the 1st quarter. Amundi now owns 3,101,505 shares of the electronics maker’s stock worth $7,009,000 after acquiring an additional 31,433 shares during the period. Finally, California State Teachers Retirement System lifted its holdings in shares of Plug Power by 45.6% during the 1st quarter. California State Teachers Retirement System now owns 1,560,305 shares of the electronics maker’s stock worth $3,526,000 after acquiring an additional 488,883 shares during the period. 43.48% of the stock is owned by institutional investors.

Plug Power Company Profile

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.