Plug Power Inc (PLUG) Given Average Rating of “Hold” by Brokerages

Shares of Plug Power Inc (NASDAQ:PLUG) have earned an average rating of “Hold” from the twelve brokerages that are presently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $3.29.

PLUG has been the topic of several recent research reports. B. Riley reiterated a “buy” rating and issued a $3.50 price target on shares of Plug Power in a research note on Thursday, December 7th. ValuEngine lowered shares of Plug Power from a “hold” rating to a “sell” rating in a research note on Monday, December 4th. Zacks Investment Research lowered shares of Plug Power from a “hold” rating to a “sell” rating in a research note on Tuesday, November 14th. FBR & Co reiterated a “buy” rating on shares of Plug Power in a research note on Tuesday, October 31st. Finally, Cowen reiterated a “buy” rating and issued a $3.00 price target on shares of Plug Power in a research note on Tuesday, October 17th.

Institutional investors and hedge funds have recently made changes to their positions in the company. Archford Capital Strategies LLC grew its position in shares of Plug Power by 20,422.2% in the 2nd quarter. Archford Capital Strategies LLC now owns 1,847 shares of the electronics maker’s stock valued at $115,000 after acquiring an additional 1,838 shares during the period. Adalta Capital Management LLC bought a new position in shares of Plug Power in the 2nd quarter valued at about $106,000. Virtu KCG Holdings LLC grew its position in shares of Plug Power by 126.4% in the 2nd quarter. Virtu KCG Holdings LLC now owns 92,497 shares of the electronics maker’s stock valued at $189,000 after acquiring an additional 51,638 shares during the period. State Board of Administration of Florida Retirement System grew its position in shares of Plug Power by 33.7% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 105,167 shares of the electronics maker’s stock valued at $274,000 after acquiring an additional 26,530 shares during the period. Finally, Voya Investment Management LLC grew its position in shares of Plug Power by 23.2% in the 2nd quarter. Voya Investment Management LLC now owns 105,772 shares of the electronics maker’s stock valued at $216,000 after acquiring an additional 19,904 shares during the period. 24.44% of the stock is owned by institutional investors.

Shares of Plug Power (NASDAQ:PLUG) traded up $0.03 during mid-day trading on Tuesday, reaching $1.83. 5,704,762 shares of the company’s stock traded hands, compared to its average volume of 3,141,212. The company has a quick ratio of 0.86, a current ratio of 1.29 and a debt-to-equity ratio of 0.62. Plug Power has a 12-month low of $0.83 and a 12-month high of $3.21. The firm has a market cap of $408.96, a price-to-earnings ratio of -2.97 and a beta of 1.52.

Plug Power (NASDAQ:PLUG) last issued its quarterly earnings results on Wednesday, November 8th. The electronics maker reported ($0.04) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.04). Plug Power had a negative net margin of 96.27% and a negative return on equity of 83.93%. The firm had revenue of $61.43 million for the quarter, compared to analyst estimates of $54.57 million. During the same period in the previous year, the business earned $0.07 EPS. The company’s revenue was up 249.0% compared to the same quarter last year. equities analysts expect that Plug Power will post -0.51 earnings per share for the current fiscal year.

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About Plug Power

Plug Power Inc is a provider of alternative energy technology focused on the design, development, commercialization and manufacture of hydrogen fuel cell systems used for the industrial off-road market and the stationary power market. The Company’s product line includes GenKey, GenDrive, GenFuel, GenCare and ReliOn.

Analyst Recommendations for Plug Power (NASDAQ:PLUG)

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