Plug Power (NASDAQ:PLUG) Downgraded by Wolfe Research to “Peer Perform”

Wolfe Research lowered shares of Plug Power (NASDAQ:PLUGFree Report) from an outperform rating to a peer perform rating in a report released on Monday, Marketbeat Ratings reports.

Other research analysts have also recently issued research reports about the company. Roth Capital cut Plug Power from a buy rating to a neutral rating in a research report on Thursday, August 10th. Oppenheimer cut Plug Power from an outperform rating to a market perform rating in a research report on Friday, November 10th. Truist Financial lowered their price objective on Plug Power from $8.00 to $6.00 and set a hold rating on the stock in a research report on Friday, November 10th. HC Wainwright lowered their price objective on Plug Power from $78.00 to $27.00 and set a buy rating on the stock in a research report on Monday, October 16th. Finally, Citigroup decreased their price target on Plug Power from $13.00 to $12.50 and set a buy rating on the stock in a research report on Tuesday, October 10th. Fifteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Plug Power has an average rating of Hold and a consensus price target of $9.83.

Read Our Latest Stock Report on Plug Power

Plug Power Trading Down 3.9 %

NASDAQ PLUG opened at $4.18 on Monday. The stock has a 50 day moving average of $6.72 and a 200-day moving average of $8.67. Plug Power has a 12 month low of $3.22 and a 12 month high of $18.88. The company has a market cap of $2.53 billion, a PE ratio of -2.61 and a beta of 1.98. The company has a current ratio of 2.41, a quick ratio of 1.31 and a debt-to-equity ratio of 0.15.

Plug Power (NASDAQ:PLUGGet Free Report) last announced its quarterly earnings results on Thursday, November 9th. The electronics maker reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.15). Plug Power had a negative net margin of 106.74% and a negative return on equity of 24.18%. The business had revenue of $198.71 million for the quarter, compared to analyst estimates of $219.57 million. During the same period in the prior year, the business earned ($0.30) EPS. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, equities research analysts anticipate that Plug Power will post -1.47 EPS for the current fiscal year.

Insider Activity at Plug Power

In related news, insider Jose Luis Crespo sold 31,958 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $7.20, for a total value of $230,097.60. Following the sale, the insider now directly owns 250,609 shares in the company, valued at $1,804,384.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.60% of the stock is currently owned by company insiders.

Institutional Trading of Plug Power

Institutional investors have recently added to or reduced their stakes in the stock. ICA Group Wealth Management LLC bought a new position in shares of Plug Power during the 4th quarter worth approximately $35,000. Smithfield Trust Co bought a new position in shares of Plug Power during the 2nd quarter worth approximately $31,000. Glass Jacobson Investment Advisors llc bought a new position in shares of Plug Power during the 2nd quarter worth approximately $34,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Plug Power during the 1st quarter worth approximately $41,000. Finally, Millburn Ridgefield Corp bought a new position in shares of Plug Power during the 3rd quarter worth approximately $29,000. 49.99% of the stock is currently owned by institutional investors.

Plug Power Company Profile

(Get Free Report)

Plug Power Inc delivers end-to-end clean hydrogen and zero-emissions fuel cell solutions for supply chain and logistics applications, on-road electric vehicles, stationary power market, and others in North America and internationally. It engages in building an end-to-end green hydrogen ecosystem, including liquid green hydrogen production, storage and handling, transportation, and dispensing infrastructure.

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