Plug Power, Inc. (NASDAQ:PLUG) Given Consensus Rating of “Hold” by Analysts

Plug Power, Inc. (NASDAQ:PLUG) has been assigned an average rating of “Hold” from the fifteen research firms that are currently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation, two have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $3.4150.

Several analysts have recently issued reports on the company. B. Riley Financial upped their price target on Plug Power from $3.00 to $5.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. BTIG Research reiterated a “neutral” rating on shares of Plug Power in a research note on Tuesday, March 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Plug Power in a research note on Tuesday, April 21st. Jefferies Financial Group decreased their price target on Plug Power from $2.00 to $1.80 and set a “hold” rating for the company in a research note on Monday, March 9th. Finally, BMO Capital Markets upped their price target on Plug Power from $1.00 to $1.20 and gave the stock an “underperform” rating in a research note on Tuesday, May 12th.

Institutional Trading of Plug Power

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Plug Power by 18.2% during the 4th quarter. Vanguard Group Inc. now owns 129,599,295 shares of the electronics maker’s stock valued at $255,311,000 after purchasing an additional 19,967,339 shares during the period. SG Americas Securities LLC boosted its stake in Plug Power by 208.6% during the 4th quarter. SG Americas Securities LLC now owns 1,119,191 shares of the electronics maker’s stock valued at $2,205,000 after purchasing an additional 756,510 shares during the period. Leonteq Securities AG bought a new stake in Plug Power during the 4th quarter valued at approximately $734,000. Prescott Group Capital Management L.L.C. bought a new stake in Plug Power during the 4th quarter valued at approximately $1,202,000. Finally, Handelsbanken Fonder AB bought a new stake in Plug Power during the 4th quarter valued at approximately $3,915,000. Institutional investors own 43.48% of the company’s stock.

Plug Power Stock Performance

Shares of NASDAQ PLUG opened at $2.85 on Friday. The business’s 50-day moving average price is $3.28 and its two-hundred day moving average price is $2.57. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.36 and a quick ratio of 1.40. Plug Power has a one year low of $1.03 and a one year high of $4.58. The company has a market capitalization of $3.98 billion, a P/E ratio of -2.16 and a beta of 2.12.

Plug Power (NASDAQ:PLUG) last issued its earnings results on Monday, May 11th. The electronics maker reported ($0.08) EPS for the quarter, beating 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 firm had revenue of $163.51 million for the quarter, compared to the consensus estimate of $139.87 million. During the same quarter in the previous year, the company posted ($0.21) earnings per share. The business’s quarterly revenue was up 22.3% compared to the same quarter last year. Analysts anticipate that Plug Power will post -0.24 earnings per share for the current fiscal year.

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.