Plug Power Inc. (NASDAQ:PLUG) Receives Consensus Rating of “Hold” from Analysts

Shares of Plug Power Inc. (NASDAQ:PLUG) have been given a consensus rating of “Hold” by the twenty-three brokerages that are covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $4.52.

A number of equities analysts recently issued reports on the company. Piper Sandler lowered their price target on Plug Power from $1.60 to $1.40 and set an “underweight” rating for the company in a report on Thursday, November 14th. Royal Bank of Canada cut their price target on shares of Plug Power from $3.50 to $2.50 and set a “sector perform” rating on the stock in a research note on Monday, August 12th. Evercore ISI reduced their price target on shares of Plug Power from $5.00 to $4.00 and set an “outperform” rating for the company in a research report on Wednesday, November 13th. Susquehanna dropped their price objective on Plug Power from $3.00 to $2.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Finally, Canaccord Genuity Group reduced their target price on Plug Power from $2.50 to $2.25 and set a “hold” rating for the company in a report on Wednesday, November 13th.

Institutional Trading of Plug Power

Institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its holdings in shares of Plug Power by 23.6% in the 3rd quarter. Geode Capital Management LLC now owns 19,194,629 shares of the electronics maker’s stock worth $43,388,000 after acquiring an additional 3,662,456 shares during the period. Swedbank AB acquired a new stake in Plug Power in the 1st quarter valued at about $10,687,000. SG Americas Securities LLC increased its holdings in Plug Power by 134.0% during the 2nd quarter. SG Americas Securities LLC now owns 2,458,537 shares of the electronics maker’s stock valued at $5,728,000 after acquiring an additional 1,407,858 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Plug Power by 25.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,637,039 shares of the electronics maker’s stock valued at $15,000,000 after purchasing an additional 1,354,500 shares in the last quarter. Finally, Vontobel Holding Ltd. grew its position in shares of Plug Power by 44.3% in the third quarter. Vontobel Holding Ltd. now owns 3,426,354 shares of the electronics maker’s stock valued at $7,744,000 after purchasing an additional 1,051,400 shares during the last quarter. Hedge funds and other institutional investors own 43.48% of the company’s stock.

Plug Power Stock Up 5.2 %

Shares of NASDAQ:PLUG opened at $2.24 on Friday. The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15. Plug Power has a fifty-two week low of $1.60 and a fifty-two week high of $5.14. The stock has a market cap of $2.04 billion, a price-to-earnings ratio of -1.05 and a beta of 1.81. The firm’s 50 day moving average price is $2.09 and its 200 day moving average price is $2.37.

Plug Power (NASDAQ:PLUG) last posted its earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.01). The business had revenue of $173.70 million during the quarter, compared to analysts’ expectations of $207.25 million. Plug Power had a negative net margin of 214.05% and a negative return on equity of 46.99%. The business’s quarterly revenue was down 12.6% compared to the same quarter last year. During the same period last year, the company earned ($0.47) EPS. As a group, equities research analysts predict that Plug Power will post -1.2 earnings per share for the current fiscal year.

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.