Published: Sat, May 20, 2017
Money | By Armando Alvarado

Plug Power's (PLUG) Outperform Rating Reaffirmed at FBR & Co

Zacks Investment Research downgraded Plug Power from a "hold" rating to a "sell" rating in a report on Wednesday, January 18th.

Plug Power Inc (NASDAQ:PLUG)'s trailing twelve month revenues are $85.8 Million, whereas its price to sales ratio for the same period is 4.56.

Analysts on average have given a price target of $3 to Plug Power Inc.

Stock is now moving with a positive distance from the 200 day simple moving average of approximately 35.32%, and has a solid year to date (YTD) performance of 70% which means the stock is constantly adding to its value from the previous fiscal year end price. During the past six months, Plug Power Inc. Analysts have a mean recommendation of 2.20 on this stock (A rating of less than 2 means buy, "hold" within the 3 range, "sell" within the 4 range, and "strong sell" within the 5 range). If the average volume is low then the liquidity is low which means it is hard to buy or sell the stock as there are fewer buyers or sellers of the stock.

Analysts predict that Plug Power will post ($0.27) earnings per share for the current fiscal year. 3,413,051 shares of the company traded hands. The relative volume of the stock is 1.41, while its market cap is $391.37 Million. The stock touched 52-week High of $2.70 on 04/11/17 and 52-week Low of $0.83 on 02/09/17. Extending back, their 50-Day Simple Moving Average is 2.58%, looking even further back, their 200-Day Simple Moving Average stands at 24.52%. The reduced rating and target come after the hydrogen fuel cell maker reported weak first-quarter results, with revenue and EPS at $15.2 million and $0.13, well below Irwin's estimates of $13.4 million and $0.06, respectively. Plug Power had a negative return on equity of 36.60% and a negative net margin of 69.28%. Remove that revenue from the equation, and next year it's conceivable that Plug Power's revenue could look like this: $140 million from Amazon, $31 million from everyone else - and presto change-o, suddenly, accounts for 82% of Plug Power's business. Analysts are forecasting Plug Power report revenue of about $32.87M, versus the $20.46M posted previous year. These analysts have also projected a Low Estimate of $-0.08/share and a High Estimate of $-0.03/share.

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The target price for Plug Power Inc.

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Several hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC increased its stake in shares of Plug Power by 30.4% in the first quarter. Credit Suisse Ag has 0% invested in Plug Power Inc (NASDAQ:PLUG) for 171,115 shares. We are constantly monitoring technical and fundamental factors that may lead to breakouts for these relatively cheap (in terms of price) stocks. Two Sigma Securities LLC purchased a new stake in shares of Plug Power during the third quarter worth $174,000. Geode Capital Management LLC now owns 1,750,660 shares of the electronics maker's stock valued at $2,415,000 after buying an additional 407,653 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Plug Power by 14.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 768,662 shares of the electronics maker's stock worth $1,061,000 after buying an additional 262,147 shares in the last quarter.

Investors in Plug Power initially applauded Plug Power's deal with Amazon, bidding Plug Power stock up 73% on the day it was announced.

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