Plug Power (NASDAQ:PLUG) Upgraded at B. Riley

Plug Power (NASDAQ:PLUG) was upgraded by equities research analysts at B. Riley to a “strong-buy” rating in a note issued to investors on Tuesday, Zacks.com reports.

Other equities research analysts have also issued research reports about the stock. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Plug Power in a research note on Tuesday, May 14th. Evercore ISI reduced their price objective on shares of Plug Power from $9.00 to $6.00 and set an “outperform” rating for the company in a research note on Monday, March 4th. Canaccord Genuity Group reduced their price objective on shares of Plug Power from $4.00 to $3.00 and set a “hold” rating for the company in a research note on Monday, May 13th. HSBC reduced their price objective on shares of Plug Power from $9.00 to $8.50 and set a “buy” rating for the company in a research note on Tuesday, March 5th. Finally, Susquehanna cut their target price on shares of Plug Power from $3.50 to $3.00 and set a “neutral” rating for the company in a research report on Friday, May 10th. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $5.49.

Plug Power Trading Up 0.4 %

Plug Power stock opened at $2.46 on Tuesday. The company’s fifty day simple moving average is $2.83 and its 200-day simple moving average is $3.42. The company has a quick ratio of 0.87, a current ratio of 1.94 and a debt-to-equity ratio of 0.17. Plug Power has a 12 month low of $2.25 and a 12 month high of $13.44. The stock has a market cap of $1.83 billion, a P/E ratio of -1.02 and a beta of 1.77.

Plug Power (NASDAQ:PLUG) last posted its quarterly earnings results on Thursday, May 9th. The electronics maker reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.11). Plug Power had a negative net margin of 181.96% and a negative return on equity of 43.10%. The company had revenue of $120.26 million for the quarter, compared to analysts’ expectations of $162.92 million. As a group, sell-side analysts forecast that Plug Power will post -1.13 EPS for the current fiscal year.

Insiders Place Their Bets

In other Plug Power news, Director George C. Mcnamee sold 10,000 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $2.56, for a total transaction of $25,600.00. Following the sale, the director now directly owns 639,572 shares of the company’s stock, valued at $1,637,304.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Plug Power

A number of large investors have recently modified their holdings of PLUG. HighTower Advisors LLC lifted its position in shares of Plug Power by 20.5% during the third quarter. HighTower Advisors LLC now owns 54,110 shares of the electronics maker’s stock worth $411,000 after purchasing an additional 9,209 shares in the last quarter. Deutsche Bank AG lifted its position in shares of Plug Power by 74.1% during the third quarter. Deutsche Bank AG now owns 83,510 shares of the electronics maker’s stock worth $635,000 after purchasing an additional 35,538 shares in the last quarter. Mariner LLC lifted its position in shares of Plug Power by 12.8% during the third quarter. Mariner LLC now owns 107,043 shares of the electronics maker’s stock worth $813,000 after purchasing an additional 12,167 shares in the last quarter. Stifel Financial Corp lifted its position in shares of Plug Power by 65.7% during the third quarter. Stifel Financial Corp now owns 496,725 shares of the electronics maker’s stock worth $3,775,000 after purchasing an additional 196,924 shares in the last quarter. Finally, Treasurer of the State of North Carolina lifted its position in shares of Plug Power by 1.7% during the third quarter. Treasurer of the State of North Carolina now owns 230,912 shares of the electronics maker’s stock worth $1,755,000 after purchasing an additional 3,910 shares in the last quarter. 43.48% of the stock is currently owned by institutional investors and hedge funds.

Plug Power Company Profile

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.