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

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

A number of other equities analysts have also recently weighed in on PLUG. BMO Capital Markets raised their price objective on Plug Power from $1.00 to $1.20 and gave the company an “underperform” rating in a report on Tuesday, May 12th. TD Cowen upped their target price on Plug Power from $2.00 to $3.00 and gave the stock a “hold” rating in a research note on Tuesday, May 12th. Jefferies Financial Group reduced their price target on shares of Plug Power from $2.00 to $1.80 and set a “hold” rating on the stock in a research report on Monday, March 9th. Weiss Ratings downgraded shares of Plug Power from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday. Finally, Susquehanna boosted 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. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $3.42.

Plug Power Price Performance

PLUG opened at $2.54 on Monday. The business’s fifty day simple moving average is $3.26 and its 200 day simple moving average is $2.59. Plug Power has a 52 week low of $1.13 and a 52 week high of $4.58. The company has a quick ratio of 1.40, a current ratio of 2.36 and a debt-to-equity ratio of 0.89. The stock has a market cap of $3.54 billion, a PE ratio of -1.92 and a beta of 2.12.

Plug Power (NASDAQ:PLUG) last issued its quarterly earnings results 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. Plug Power had a negative return on equity of 49.30% and a negative net margin of 227.13%.The firm had revenue of $163.51 million during the quarter, compared to analyst estimates of $139.87 million. During the same quarter in the previous year, the company posted ($0.21) earnings per share. The company’s revenue was up 22.3% compared to the same quarter last year. As a group, research analysts expect that Plug Power will post -0.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Plug Power

Institutional investors have recently bought and sold shares of the stock. Kestra Advisory Services LLC raised its stake in Plug Power by 11.8% during the 1st quarter. Kestra Advisory Services LLC now owns 43,007 shares of the electronics maker’s stock worth $97,000 after acquiring an additional 4,525 shares during the period. Earned Wealth Advisors LLC boosted its position in shares of Plug Power by 12.6% in the first quarter. Earned Wealth Advisors LLC now owns 44,061 shares of the electronics maker’s stock worth $100,000 after purchasing an additional 4,923 shares during the period. Abel Hall LLC increased its stake in shares of Plug Power by 9.2% in the first quarter. Abel Hall LLC now owns 62,213 shares of the electronics maker’s stock worth $141,000 after purchasing an additional 5,223 shares in the last quarter. Wealthfront Advisers LLC raised its position in shares of Plug Power by 8.2% during the 1st quarter. Wealthfront Advisers LLC now owns 69,709 shares of the electronics maker’s stock valued at $158,000 after purchasing an additional 5,283 shares during the period. Finally, International Assets Investment Management LLC raised its position in shares of Plug Power by 53.6% during the 4th quarter. International Assets Investment Management LLC now owns 15,773 shares of the electronics maker’s stock valued at $31,000 after purchasing an additional 5,503 shares during the period. 43.48% of the stock is currently owned by hedge funds and other institutional investors.

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.