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Stock Market & Financial Investment News

News Breaks
March 14, 2014
10:30 EDTPLUG, FCEL, 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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October 10, 2014
07:03 EDTPLUGPlug Power backs FY14 revenue guidance of $75M, consensus $75.93M
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October 9, 2014
09:20 EDTBLDP, PLUGOn The Fly: Pre-market Movers
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