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

Shares of Plug Power, Inc. (NASDAQ:PLUG) have been assigned an average recommendation of “Hold” from the fifteen analysts that are currently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a sell recommendation, seven have given a hold recommendation, two have given a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $3.4150.

A number of analysts have weighed in on the company. BTIG Research reaffirmed a “neutral” rating on shares of Plug Power in a research report on Tuesday, March 3rd. Oppenheimer reaffirmed a “market perform” rating on shares of Plug Power in a research report on Tuesday, March 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Plug Power in a research report on Tuesday, April 21st. Canaccord Genuity Group increased their price objective on Plug Power from $2.50 to $4.00 and gave the stock a “hold” rating in a research report on Tuesday, May 12th. Finally, Susquehanna increased their price objective on Plug Power from $2.75 to $3.75 and gave the stock a “neutral” rating in a research report on Wednesday, May 13th.

Plug Power Stock Up 1.6%

Plug Power stock opened at $3.84 on Wednesday. Plug Power has a twelve month low of $0.77 and a twelve month high of $4.58. The stock has a 50 day moving average of $2.94 and a two-hundred day moving average of $2.43. The company has a current ratio of 2.36, a quick ratio of 1.40 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $5.36 billion, a price-to-earnings ratio of -2.91 and a beta of 2.06.

Plug Power (NASDAQ:PLUG) last posted its quarterly earnings data on Monday, May 11th. The electronics maker reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01. Plug Power had a negative return on equity of 49.30% and a negative net margin of 227.13%.The company had revenue of $163.51 million during the quarter, compared to analysts’ expectations of $139.87 million. During the same period last year, the firm earned ($0.21) EPS. The firm’s revenue for the quarter was up 22.3% on a year-over-year basis. As a group, research analysts expect that Plug Power will post -0.26 earnings per share for the current year.

Institutional Trading of Plug Power

Hedge funds have recently modified their holdings of the business. Kovack Advisors Inc. acquired a new stake in shares of Plug Power in the 3rd quarter valued at approximately $26,000. Prakash Investment Advisors LLC acquired a new stake in shares of Plug Power in the 3rd quarter valued at approximately $27,000. Prime Capital Investment Advisors LLC acquired a new stake in shares of Plug Power in the 3rd quarter valued at approximately $30,000. Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its holdings in shares of Plug Power by 116.7% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 13,000 shares of the electronics maker’s stock valued at $26,000 after buying an additional 7,000 shares during the period. Finally, Simplicity Wealth LLC acquired a new stake in shares of Plug Power in the 3rd quarter valued at approximately $32,000. 43.48% of the stock is owned by institutional investors and hedge funds.

About Plug Power

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.