BidaskClub upgraded shares of Plug Power (NASDAQ:PLUG) from a strong sell rating to a sell rating in a research note issued to investors on Tuesday morning.

Several other equities analysts have also recently weighed in on the company. B. Riley reiterated a buy rating and issued a $3.50 price target on shares of Plug Power in a research report on Thursday, December 7th. ValuEngine cut Plug Power from a hold rating to a sell rating in a research report on Monday, December 4th. Zacks Investment Research upgraded Plug Power from a hold rating to a buy rating and set a $2.50 price target for the company in a research report on Thursday, January 18th. HC Wainwright reiterated a buy rating and issued a $4.00 price target on shares of Plug Power in a research report on Thursday, December 7th. Finally, Canaccord Genuity started coverage on Plug Power in a research report on Friday, December 1st. They issued a buy rating and a $5.00 price target for the company. Four equities research analysts have rated the stock with a sell rating and seven have assigned a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $3.48.

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Shares of Plug Power (NASDAQ PLUG) opened at $1.97 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.29 and a quick ratio of 0.86. Plug Power has a 52-week low of $0.96 and a 52-week high of $3.21. The stock has a market capitalization of $450.12, a price-to-earnings ratio of -3.34 and a beta of 1.58.

Plug Power (NASDAQ:PLUG) last released its earnings results on Wednesday, March 7th. The electronics maker reported ($0.09) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.02). Plug Power had a negative return on equity of 91.39% and a negative net margin of 96.94%. The firm had revenue of $33.70 million during the quarter, compared to analysts’ expectations of $31.03 million. During the same period in the prior year, the business earned ($0.08) earnings per share. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. equities analysts predict that Plug Power will post -0.18 EPS for the current fiscal year.

A number of large investors have recently bought and sold shares of PLUG. Wells Fargo & Company MN boosted its stake in Plug Power by 41.6% during the second quarter. Wells Fargo & Company MN now owns 178,079 shares of the electronics maker’s stock valued at $363,000 after buying an additional 52,300 shares during the period. New York State Common Retirement Fund boosted its stake in Plug Power by 21.5% during the second quarter. New York State Common Retirement Fund now owns 192,700 shares of the electronics maker’s stock valued at $393,000 after buying an additional 34,099 shares during the period. Northern Trust Corp boosted its stake in Plug Power by 39.5% during the second quarter. Northern Trust Corp now owns 2,828,390 shares of the electronics maker’s stock valued at $5,770,000 after buying an additional 800,320 shares during the period. Vanguard Group Inc. boosted its stake in Plug Power by 30.6% during the second quarter. Vanguard Group Inc. now owns 10,432,461 shares of the electronics maker’s stock valued at $21,283,000 after buying an additional 2,444,005 shares during the period. Finally, Ark Investment Management LLC bought a new stake in Plug Power during the second quarter valued at $397,000. 26.83% of the stock is owned by institutional investors.

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About Plug Power

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.

Analyst Recommendations for Plug Power (NASDAQ:PLUG)

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