Plug Power, Inc. (NASDAQ:PLUG) Receives Consensus Recommendation of “Hold” from Brokerages

Plug Power, Inc. (NASDAQ:PLUG) has received a consensus rating of “Hold” from the eighteen analysts that are currently covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a sell recommendation, six have given a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $2.7958.

A number of equities research analysts recently issued reports on PLUG shares. HC Wainwright reiterated a “buy” rating and issued a $7.00 price objective on shares of Plug Power in a report on Monday, November 24th. BMO Capital Markets lowered their price objective on Plug Power from $1.10 to $1.00 and set an “underperform” rating on the stock in a report on Tuesday, August 12th. Canaccord Genuity Group set a $7.00 price objective on Plug Power in a research note on Monday, November 24th. Susquehanna decreased their target price on Plug Power from $3.50 to $2.50 and set a “neutral” rating for the company in a research report on Monday, November 17th. Finally, Wall Street Zen downgraded Plug Power from a “hold” rating to a “sell” rating in a report on Sunday, November 16th.

Plug Power Price Performance

Shares of PLUG opened at $2.11 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 1.59. The firm has a market cap of $2.94 billion, a PE ratio of -0.91 and a beta of 2.28. The firm’s 50 day moving average price is $2.75 and its 200 day moving average price is $1.90. Plug Power has a twelve month low of $0.69 and a twelve month high of $4.58.

Plug Power (NASDAQ:PLUG) last posted its earnings results on Monday, November 10th. The electronics maker reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.01. Plug Power had a negative net margin of 292.84% and a negative return on equity of 90.22%. The company had revenue of $177.06 million during the quarter, compared to the consensus estimate of $185.41 million. As a group, research analysts expect that Plug Power will post -1.21 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Benjamin Haycraft sold 10,000 shares of Plug Power stock in a transaction on Monday, November 10th. The shares were sold at an average price of $2.92, for a total value of $29,200.00. Following the transaction, the executive vice president owned 467,583 shares in the company, valued at $1,365,342.36. This trade represents a 2.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.41% of the stock is owned by company insiders.

Hedge Funds Weigh In On Plug Power

A number of institutional investors have recently made changes to their positions in the business. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Plug Power during the 1st quarter valued at approximately $34,000. XTX Topco Ltd lifted its holdings in shares of Plug Power by 270.9% during the first quarter. XTX Topco Ltd now owns 356,260 shares of the electronics maker’s stock worth $481,000 after buying an additional 260,216 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Plug Power by 4.5% during the first quarter. Vanguard Group Inc. now owns 91,368,845 shares of the electronics maker’s stock worth $123,348,000 after buying an additional 3,930,342 shares during the last quarter. Citizens Financial Group Inc. RI bought a new stake in shares of Plug Power in the first quarter valued at approximately $38,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Plug Power by 6.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 6,972,199 shares of the electronics maker’s stock worth $9,412,000 after acquiring an additional 418,493 shares during the last quarter. 43.48% of the stock is currently owned by institutional investors.

About Plug Power

Plug Power Inc develops hydrogen and fuel cell product solutions in North America, Europe, Asia, and internationally. The company offers GenDrive, a hydrogen-fueled proton exchange membrane (PEM) fuel cell system that provides power to material handling electric vehicles; GenSure, a stationary fuel cell solution that offers modular PEM fuel cell power to support the backup and grid-support power requirements of the telecommunications, transportation, and utility sectors; ProGen, a fuel cell stack and engine technology used in mobility and stationary fuel cell systems, and as engines in electric delivery vans; GenFuel, a liquid hydrogen fueling delivery, generation, storage, and dispensing system; GenCare, an ongoing Internet of Things-based maintenance and on-site service program for GenDrive fuel cell systems, GenSure fuel cell systems, GenFuel hydrogen storage and dispensing products, and ProGen fuel cell engines; and GenKey, an integrated turn-key solution for transitioning to fuel cell power.