Wall Street Zen Downgrades Plug Power (NASDAQ:PLUG) to Sell

Plug Power (NASDAQ:PLUG) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Sunday.

A number of other research firms also recently commented on PLUG. Morgan Stanley reiterated an “underweight” rating and issued a $1.50 price objective on shares of Plug Power in a report on Thursday, October 16th. HC Wainwright increased their price target on Plug Power from $3.00 to $7.00 and gave the company a “buy” rating in a report on Friday, October 3rd. BMO Capital Markets reduced their price objective on Plug Power from $1.10 to $1.00 and set an “underperform” rating on the stock in a research report on Tuesday, August 12th. Wells Fargo & Company upped their target price on Plug Power from $1.00 to $1.50 and gave the company an “equal weight” rating in a report on Thursday, August 14th. Finally, HSBC set a $4.40 target price on Plug Power in a research note on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have assigned a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Plug Power currently has a consensus rating of “Hold” and an average target price of $2.42.

Plug Power Trading Down 6.7%

Shares of PLUG stock opened at $2.09 on Friday. Plug Power has a fifty-two week low of $0.69 and a fifty-two week high of $4.58. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 1.59. The stock’s fifty day moving average is $2.73 and its two-hundred day moving average is $1.81. The firm has a market capitalization of $2.41 billion, a P/E ratio of -0.90 and a beta of 2.28.

Plug Power (NASDAQ:PLUG) last issued its earnings results on Monday, November 10th. The electronics maker reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.01. The business had revenue of $177.06 million during the quarter, compared to analysts’ expectations of $185.41 million. Plug Power had a negative net margin of 292.84% and a negative return on equity of 90.22%. Plug Power has set its FY 2025 guidance at EPS. Research analysts expect that Plug Power will post -1.21 earnings per share for the current fiscal year.

Insider Transactions at Plug Power

In related news, EVP Benjamin Haycraft sold 10,000 shares of the business’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $2.92, for a total value of $29,200.00. Following the sale, the executive vice president directly owned 467,583 shares in the company, valued at approximately $1,365,342.36. The trade was a 2.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.41% of the company’s stock.

Institutional Investors Weigh In On Plug Power

A number of institutional investors have recently made changes to their positions in PLUG. Kovack Advisors Inc. acquired a new position in shares of Plug Power in the 3rd quarter worth approximately $26,000. Yousif Capital Management LLC acquired a new stake in Plug Power in the 3rd quarter valued at approximately $27,000. Prakash Investment Advisors LLC acquired a new stake in Plug Power in the 3rd quarter valued at approximately $27,000. Prime Capital Investment Advisors LLC purchased a new stake in Plug Power in the third quarter valued at approximately $30,000. Finally, Oak Thistle LLC acquired a new position in Plug Power during the third quarter worth $30,000. 43.48% of the stock is currently owned by institutional investors and hedge funds.

About Plug Power

Plug Power Inc develops hydrogen and fuel cell product solutions in North America, Europe, Asia, and internationally. The company offers GenDrive, a hydrogen-fueled proton exchange membrane (PEM) fuel cell system that provides power to material handling electric vehicles; GenSure, a stationary fuel cell solution that offers modular PEM fuel cell power to support the backup and grid-support power requirements of the telecommunications, transportation, and utility sectors; ProGen, a fuel cell stack and engine technology used in mobility and stationary fuel cell systems, and as engines in electric delivery vans; GenFuel, a liquid hydrogen fueling delivery, generation, storage, and dispensing system; GenCare, an ongoing Internet of Things-based maintenance and on-site service program for GenDrive fuel cell systems, GenSure fuel cell systems, GenFuel hydrogen storage and dispensing products, and ProGen fuel cell engines; and GenKey, an integrated turn-key solution for transitioning to fuel cell power.