Plug Power (PLUG) Rating Increased to Hold at Zacks Investment Research

Plug Power (NASDAQ:PLUG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

According to Zacks, “Plug Power Inc. is a leading provider of alternative energy technology focused on the design, development, commercialization and manufacture of hydrogen fuel cell systems used primarily for the material handling and stationary power market. They are focused on proton exchange membrane, or PEM, fuel cell and fuel processing technologies, fuel cell/battery hybrid technologies, and associated hydrogen storage and dispensing infrastructure from which multiple products are available. They sell and continue to develop fuel cell product solutions to replace lead-acid batteries in material handling vehicles and industrial trucks for some of North America’s largest distribution and manufacturing businesses. Their current product line includes: GenDrive, GenFuel, GenCare, ReliOn, and GenKey. “

Other analysts also recently issued research reports about the stock. BidaskClub downgraded shares of Plug Power from a “sell” rating to a “strong sell” rating in a research report on Wednesday, January 10th. Canaccord Genuity set a $5.00 price objective on shares of Plug Power and gave the company a “buy” rating in a research report on Wednesday, March 7th. B. Riley reaffirmed a “buy” rating on shares of Plug Power in a research report on Thursday, March 8th. HC Wainwright set a $4.00 price objective on shares of Plug Power and gave the company a “buy” rating in a research report on Thursday, March 8th. Finally, ValuEngine raised shares of Plug Power from a “strong sell” rating to a “sell” rating in a research report on Tuesday, March 13th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $3.48.



NASDAQ PLUG opened at $1.88 on Thursday. Plug Power has a one year low of $1.53 and a one year high of $3.21. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.61 and a current ratio of 1.03. The company has a market capitalization of $427.49, a P/E ratio of -3.13 and a beta of 1.49.

Plug Power (NASDAQ:PLUG) last issued its quarterly earnings data on Wednesday, March 7th. The electronics maker reported ($0.09) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.02). Plug Power had a negative net margin of 96.94% and a negative return on equity of 93.76%. The firm had revenue of $33.70 million during the quarter, compared to analyst estimates of $31.03 million. During the same period last year, the business earned ($0.08) EPS. The firm’s revenue was up 3.4% compared to the same quarter last year. equities research analysts predict that Plug Power will post -0.21 EPS for the current year.

Hedge funds have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. grew its position in shares of Plug Power by 20.0% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,133,117 shares of the electronics maker’s stock worth $2,675,000 after buying an additional 188,784 shares in the last quarter. UBS Asset Management Americas Inc. grew its position in shares of Plug Power by 157.5% during the fourth quarter. UBS Asset Management Americas Inc. now owns 131,108 shares of the electronics maker’s stock worth $309,000 after buying an additional 80,186 shares in the last quarter. ARK Investment Management LLC grew its position in shares of Plug Power by 22.2% during the fourth quarter. ARK Investment Management LLC now owns 412,391 shares of the electronics maker’s stock worth $973,000 after buying an additional 74,934 shares in the last quarter. Allianz Asset Management GmbH acquired a new stake in shares of Plug Power during the fourth quarter worth approximately $4,198,000. Finally, BlackRock Inc. grew its position in shares of Plug Power by 1.7% during the fourth quarter. BlackRock Inc. now owns 14,357,035 shares of the electronics maker’s stock worth $33,883,000 after buying an additional 239,317 shares in the last quarter. 26.59% of the stock is owned by institutional investors and hedge funds.

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Plug Power Company Profile

Plug Power Inc, an alternative energy technology provider, engages in the design, development, commercialization, and manufacture of hydrogen and fuel cell systems for the material handling and stationary power markets primarily in North America and Europe. It focuses on proton exchange membrane (PEM) fuel cell and fuel processing technologies, fuel cell/battery hybrid technologies, and related hydrogen storage and dispensing infrastructure.

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