Plug Power (NASDAQ:PLUG) Upgraded at Clear Str

Clear Str upgraded shares of Plug Power (NASDAQ:PLUG) from a hold rating to a strong-buy rating in a research note issued to investors on Wednesday,Zacks.com reports.

Several other equities research analysts also recently weighed in on PLUG. HSBC set a $4.40 price target on shares of Plug Power in a research note on Thursday, October 9th. Morgan Stanley restated an “underweight” rating and issued a $1.50 target price on shares of Plug Power in a research note on Thursday, October 16th. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 target price on shares of Plug Power in a research report on Monday, November 24th. Canaccord Genuity Group set a $7.00 price target on Plug Power in a research note on Monday, November 24th. Finally, Hsbc Global Res upgraded Plug Power to a “strong-buy” rating in a report on Thursday, October 9th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, six have assigned a Hold rating and six have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $2.80.

Plug Power Price Performance

Shares of PLUG opened at $2.23 on Wednesday. Plug Power has a 52-week low of $0.69 and a 52-week high of $4.58. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.70 and a current ratio of 1.32. The business’s 50 day moving average price is $2.26 and its two-hundred day moving average price is $2.07. The firm has a market cap of $3.10 billion, a PE ratio of -0.94 and a beta of 1.68.

Plug Power (NASDAQ:PLUG) last announced its quarterly earnings data on Monday, November 10th. The electronics maker reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.01. Plug Power had a negative net margin of 313.69% and a negative return on equity of 105.98%. The company had revenue of $177.06 million during the quarter, compared to the consensus estimate of $185.41 million. On average, equities analysts anticipate that Plug Power will post -1.21 EPS for the current year.

Insider Buying and Selling

In related news, insider Benjamin Haycraft sold 40,000 shares of Plug Power stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $2.20, for a total transaction of $88,000.00. Following the transaction, the insider owned 373,809 shares of the company’s stock, valued at $822,379.80. The trade was a 9.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jose Luis Crespo purchased 37,300 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The shares were bought at an average price of $2.34 per share, with a total value of $87,282.00. Following the acquisition, the insider directly owned 307,332 shares of the company’s stock, valued at $719,156.88. This represents a 13.81% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold 60,000 shares of company stock worth $155,200 in the last 90 days. Corporate insiders own 0.56% of the company’s stock.

Institutional Trading of Plug Power

Several institutional investors and hedge funds have recently made changes to their positions in the company. Kovack Advisors Inc. purchased a new position in Plug Power in the third quarter valued at approximately $26,000. Sender Co & Partners Inc. purchased a new position in shares of Plug Power during the 2nd quarter valued at $26,000. Yousif Capital Management LLC bought a new position in shares of Plug Power during the 3rd quarter worth $27,000. Prakash Investment Advisors LLC purchased a new stake in Plug Power in the 3rd quarter worth about $27,000. Finally, O ROURKE & COMPANY Inc purchased a new stake in Plug Power in the 2nd quarter worth about $30,000. Hedge funds and other institutional investors own 43.48% of the company’s stock.

About Plug Power

Plug Power Inc is a U.S.-based company specializing in the design and manufacture of hydrogen fuel cell systems that serve as clean energy replacements for conventional batteries in electric vehicles and material handling equipment. Its core solutions include ProGen fuel cell engines, GenDrive power systems for forklifts and warehouse vehicles, and GenFuel hydrogen refueling infrastructure. These offerings are sold as standalone components or integrated turnkey solutions under the GenKey brand, providing customers with on-site refueling, equipment installation and maintenance services.

In addition to its fuel cell and refueling products, Plug Power develops backup power and off-grid energy solutions through its GenSure line, which targets telecommunications, data centers and utility applications.