Plug Power (PLUG) Recovers Some Losses in Advance of Earnings Release

NEW YORK (TheStreet) -- Plug Power  (PLUG) recovered some of its losses from Tuesday afternoon as it was rising more than 14% to $6.89 at 11:25 a.m. on Wednesday. The company plans to report earnings before the market opens on Thursday.

Plug Power had soared to an one-year high of $11.72 on Tuesday, but a bearish report from Citron Research sent the stock, along with peer companies Ballard Power Systems  (BLDP) and FuelCell Energy (FCEL), into free fall on Tuesday afternoon.

In the report, Citron stated Plug Power would be fairly valued at 50 cents. The firm estimates the company has lost close to $850 million since the 2000 crash and has yet to develop intellectual property or "meaningful revenue growth."

Analysts surveyed by Thomson Reuters expect Plug Power to report a net loss of 8 cents a share in its fourth-quarter report and 48 cents a share for the full fiscal year 2013.

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TheStreet Ratings team rates PLUG POWER INC as a Sell with a ratings score of D-. TheStreet Ratings Team has this to say about their recommendation:

"We rate PLUG POWER INC (PLUG) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income and disappointing return on equity."

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