Plug Power Inc (PLUG) Downgraded to “Sell” at ValuEngine

ValuEngine cut shares of Plug Power Inc (NASDAQ:PLUG) from a hold rating to a sell rating in a research note issued to investors on Thursday.

Several other research firms also recently commented on PLUG. FBR & Co reaffirmed an outperform rating and issued a $3.00 price objective on shares of Plug Power in a report on Tuesday, April 18th. Rodman & Renshaw boosted 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 Thursday, April 6th. Cowen and Company set a $3.00 target price on shares of Plug Power and gave the company a buy rating in a research note on Thursday, April 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 Thursday, April 6th. Finally, Roth Capital cut shares of Plug Power from a neutral rating to a sell rating and decreased their target price for the company from $2.25 to $1.30 in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $2.71.

Plug Power (NASDAQ:PLUG) traded down 1.804% during trading on Thursday, reaching $1.905. 4,395,386 shares of the company traded hands. The firm has a 50-day moving average price of $2.11 and a 200-day moving average price of $1.46. Plug Power has a 52 week low of $0.83 and a 52 week high of $2.70. The company’s market capitalization is $425.68 million.

Plug Power (NASDAQ:PLUG) last released its earnings results on Tuesday, May 9th. The electronics maker reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.07) by $0.06. The company had revenue of $15.20 million for the quarter, compared to analysts’ expectations of $24.90 million. Plug Power had a negative return on equity of 36.60% and a negative net margin of 69.28%. The firm’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.05) EPS. Analysts forecast that Plug Power will post ($0.27) earnings per share for the current fiscal year.

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Several large investors have recently added to or reduced their stakes in the company. Two Sigma Securities LLC acquired a new stake in Plug Power during the third quarter worth about $174,000. State Street Corp raised its stake in shares of Plug Power by 7.2% in the fourth quarter. State Street Corp now owns 2,984,022 shares of the electronics maker’s stock worth $3,578,000 after buying an additional 199,300 shares in the last quarter. Asset Management One Co. Ltd. purchased a new stake in shares of Plug Power during the fourth quarter worth about $256,000. Hudson Bay Capital Management LP purchased a new stake in shares of Plug Power during the fourth quarter worth about $12,264,000. Finally, Teachers Advisors LLC raised its stake in shares of Plug Power by 1.8% in the fourth quarter. Teachers Advisors LLC now owns 385,028 shares of the electronics maker’s stock worth $462,000 after buying an additional 6,680 shares in the last quarter. 17.83% of the stock is owned by institutional investors and hedge funds.

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.

5 Day Chart for NASDAQ:PLUG

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