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.
TRADEMARK VIOLATION NOTICE: “Plug Power Inc (PLUG) Downgraded to “Sell” at ValuEngine” was first posted by sleekmoney and is the property of of sleekmoney. If you are viewing this news story on another publication, it was stolen and reposted in violation of United States and international trademark and copyright law. The original version of this news story can be viewed at https://sleekmoney.com/plug-power-inc-plug-downgraded-to-sell-at-valuengine/1836537.html.
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.
This story was originally published by sleekmoney (https://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://sleekmoney.com/plug-power-inc-plug-downgraded-to-sell-at-valuengine/1836537.html
Receive News & Ratings for Plug Power Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Plug Power Inc and related companies with MarketBeat.com's FREE daily email newsletter.