Plug Power (NASDAQ: PLUG) recently received a number of ratings updates from brokerages and research firms:

  • 1/11/2019 – Plug Power was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. 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. “
  • 1/10/2019 – Plug Power had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $4.00 price target on the stock. They wrote, “We are projecting the company to grow its topline at a seven-year CAGR of 22.1%, from $184.4M in 2018 to $746.7M in 2025. We believe that the company should be able to grow its gross margins from 17.0% in 4Q18 to over 35.0% in 2023 as revenues rise. We expect PLUG’s operating expenses to grow modestly at a seven-year CAGR of 3.1%, from $71.8M in 2018 to $89.0M in 2025. We expect the company to realize breakeven adjusted EBITDAS during the second half of 2019. We continue to believe that the company will generate net profits during 2020 and beyond.””
  • 12/28/2018 – Plug Power was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. 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. “
  • 12/25/2018 – Plug Power was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $1.25 price target on the stock. 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. “
  • 12/20/2018 – Plug Power was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. 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. “
  • 12/19/2018 – Plug Power was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $1.50 price target on the stock. 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. “
  • 12/15/2018 – Plug Power was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 12/14/2018 – Plug Power was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. 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. “
  • 12/5/2018 – Plug Power was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 12/5/2018 – Plug Power was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. 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. “
  • 12/4/2018 – Plug Power was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $2.00 price target on the stock. 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. “
  • 11/28/2018 – Plug Power was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $2.00 price target on the stock. 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. “
  • 11/27/2018 – Plug Power was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. 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. “
  • 11/17/2018 – Plug Power was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $2.00 price target on the stock. 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. “
  • 11/16/2018 – Plug Power was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. 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. “
  • 11/16/2018 – Plug Power was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.

Shares of Plug Power stock traded up $0.03 on Friday, hitting $1.48. 122,321 shares of the company traded hands, compared to its average volume of 4,568,910. The company has a debt-to-equity ratio of 10.93, a quick ratio of 0.60 and a current ratio of 1.06. The stock has a market cap of $352.41 million, a P/E ratio of -2.47 and a beta of 1.21. Plug Power Inc has a 12-month low of $0.99 and a 12-month high of $2.42.

Plug Power (NASDAQ:PLUG) last issued its earnings results on Thursday, November 8th. The electronics maker reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. The company had revenue of $55.30 million for the quarter, compared to analysts’ expectations of $50.44 million. Plug Power had a negative net margin of 52.31% and a negative return on equity of 170.62%. The firm’s revenue was down 10.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.06) EPS. On average, analysts predict that Plug Power Inc will post -0.32 earnings per share for the current year.

In related news, insider Gerard L. Conway, Jr. sold 100,000 shares of Plug Power stock in a transaction on Monday, October 15th. The shares were sold at an average price of $1.86, for a total value of $186,000.00. Following the transaction, the insider now owns 110,519 shares in the company, valued at approximately $205,565.34. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 5.10% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of the stock. BlackRock Inc. boosted its position in Plug Power by 0.9% in the 2nd quarter. BlackRock Inc. now owns 14,625,123 shares of the electronics maker’s stock valued at $29,543,000 after buying an additional 125,482 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its position in Plug Power by 183.4% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 73,495 shares of the electronics maker’s stock valued at $148,000 after buying an additional 47,559 shares during the last quarter. Global X Management Co LLC bought a new position in Plug Power in the 2nd quarter valued at $266,000. Nomura Holdings Inc. boosted its position in Plug Power by 67.2% in the 2nd quarter. Nomura Holdings Inc. now owns 369,608 shares of the electronics maker’s stock valued at $747,000 after buying an additional 148,511 shares during the last quarter. Finally, Odey Asset Management Group Ltd boosted its position in shares of Plug Power by 90.3% in the 2nd quarter. Odey Asset Management Group Ltd now owns 4,910,000 shares of the electronics maker’s stock worth $9,918,000 after purchasing an additional 2,330,000 shares during the last quarter. Institutional investors own 27.03% of the company’s stock.

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.

Further Reading: Liquidity

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