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

Shares of Plug Power, Inc. (NASDAQ:PLUG) have earned an average recommendation of “Hold” from the eighteen ratings firms that are presently covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $2.7958.

A number of research firms recently commented on PLUG. Hsbc Global Res upgraded shares of Plug Power to a “strong-buy” rating in a research note on Thursday, October 9th. Cowen reiterated a “buy” rating on shares of Plug Power in a research note on Wednesday, November 19th. Morgan Stanley reissued an “underweight” rating and set a $1.50 price objective on shares of Plug Power in a report on Thursday, October 16th. Wall Street Zen lowered Plug Power from a “hold” rating to a “sell” rating in a research note on Sunday, November 16th. Finally, Susquehanna lowered their price target 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.

Plug Power Trading Down 1.4%

Shares of NASDAQ:PLUG opened at $2.07 on Friday. The company has a market capitalization of $2.88 billion, a PE ratio of -0.87 and a beta of 1.74. The company has a current ratio of 1.32, a quick ratio of 0.70 and a debt-to-equity ratio of 0.24. Plug Power has a 12-month low of $0.69 and a 12-month high of $4.58. The business’s fifty day simple moving average is $2.36 and its 200-day simple moving average is $2.05.

Plug Power (NASDAQ:PLUG) last released its quarterly earnings results on Monday, November 10th. The electronics maker reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.01. The business had revenue of $177.06 million for the quarter, compared to analysts’ expectations of $185.41 million. Plug Power had a negative net margin of 313.69% and a negative return on equity of 105.98%. As a group, equities research analysts predict that Plug Power will post -1.21 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Benjamin Haycraft sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $2.20, for a total transaction of $88,000.00. Following the sale, the insider directly owned 373,809 shares of the company’s stock, valued at $822,379.80. This trade represents a 9.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jose Luis Crespo bought 37,300 shares of the business’s stock in a transaction dated Monday, December 15th. The shares were purchased at an average cost of $2.34 per share, with a total value of $87,282.00. Following the completion of the acquisition, the insider owned 307,332 shares in the company, valued at approximately $719,156.88. This represents a 13.81% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold a total of 60,000 shares of company stock worth $155,200 over the last ninety days. 0.56% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PLUG. Kovack Advisors Inc. acquired a new stake in Plug Power during the 3rd quarter worth $26,000. Sender Co & Partners Inc. acquired a new stake in shares of Plug Power in the second quarter valued at about $26,000. Yousif Capital Management LLC purchased a new position in shares of Plug Power in the third quarter worth about $27,000. Prakash Investment Advisors LLC acquired a new position in Plug Power during the third quarter worth about $27,000. Finally, O ROURKE & COMPANY Inc purchased a new stake in Plug Power during the 2nd quarter valued at about $30,000. 43.48% of the stock is owned by hedge funds and other institutional investors.

Plug Power Company Profile

Plug Power Inc is a U.S.-based company specializing in the design and manufacture of hydrogen fuel cell systems that serve as clean energy replacements for conventional batteries in electric vehicles and material handling equipment. Its core solutions include ProGen fuel cell engines, GenDrive power systems for forklifts and warehouse vehicles, and GenFuel hydrogen refueling infrastructure. These offerings are sold as standalone components or integrated turnkey solutions under the GenKey brand, providing customers with on-site refueling, equipment installation and maintenance services.

In addition to its fuel cell and refueling products, Plug Power develops backup power and off-grid energy solutions through its GenSure line, which targets telecommunications, data centers and utility applications.