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March 14, 2014
10:30 EDTFCEL, PLUG, BLDPPlug Power slumps after two firms downgrade shares
Shares of fuel cell maker Plug Power (PLUG) are sinking after two research firms downgraded the stock in notes to investors earlier today. Plug Power develops fuel cell systems for industrial off-road vehicles, including forklifts and electric lift trucks. WHAT'S NEW: Roth Capital analyst Matt Koranda downgraded Plug Power to Neutral from Buy. The company's fourth quarter results, announced yesterday morning, suggested that the momentum of its bookings is slowing, the analyst believes. Although Plug Power's bookings still appear set to grow at a rate that exceeds historic levels, much of that growth already seems to be reflected in the stock, contended the analyst. Koranda also warned that some of Plug Power's shipments could be delayed because a majority of its products are being shipped to customers that still have to add hydrogen infrastructure. Adding the infrastructure could take longer than expected, wrote Koranda, who nonetheless raised his price target on the shares to $8 from 80c. Also downgrading Plug Power was Cowen analyst Robert Stone. The company's sales should rise this year as its bookings look strong, and its gross margins should increase as volumes rise and some costs decline, Stone contended. However, he believes that the stock's valuation looked "full" before trading today. Stone cut his rating on the shares to Market Perform from Outperform. PRICE ACTION: In early trading, Plug Power fell 4.5% to $7.64. Other fuel cell makers also dropped, with FuelCell Energy (FCEL) slumping 5% to $3.16 and Ballard Power Systems (BLDP) losing 2.3% to $5.85.
News For PLUG;FCEL;BLDP From The Last 14 Days
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May 29, 2015
10:45 EDTPLUGPlug Power to host investor presentation
Investor presentation to discuss influential policy will be held on June 4 at 10 am. Webcast Link
May 28, 2015
11:51 EDTPLUGPlug Power to host inv
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May 27, 2015
10:59 EDTPLUGPlug Power to host investor presentation
CEO Marsh holds an investor presentation in Dallas to discuss hydrogen path on May 29 at 11 am.
07:04 EDTPLUGPlug Power announces MSA with large footwear manufacturer in North America
Plug Power announces a master sales agreement, or MSA, with a large footwear manufacturer in North America, that outlines purchase terms and defines site-specific agreements for deployment of Plug Power's GenKey hydrogen and fuel cell solution. The footwear manufacturer has completed a successful demonstration at one of its distribution centers. By signing the MSA, corporate management at the footwear manufacturer has defined the first three sites where Plug Power's GenKey hydrogen and fuel cell solution will be implemented and is analyzing wide adoption of the technology in its 30 sites globally. GenKey enables seamless implementation of hydrogen fuel cells by material handling customers, combining GenDrive fuel cells, GenCare aftermarket service and GenFuel hydrogen molecule, storage and dispensing infrastructure.
May 26, 2015
11:04 EDTPLUGPlug Power to host investor presentation
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07:34 EDTBLDPBallard Power receives purchase order from Nisshinbo Holdings
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May 21, 2015
09:12 EDTPLUGPlug Power to host a financial discussion
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