Plug Power, Inc. (NASDAQ:PLUG) Stock Has Consensus Price Target of $3.59 According to Analysts

Plug Power, Inc. (NASDAQ:PLUG) has received an average recommendation of “Hold” from the seventeen brokerages that are currently covering the company, Marketbeat reports. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, five have given a buy rating and two have given a strong buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $3.59.

Several analysts recently issued reports on the stock. Susquehanna reduced their price objective on shares of Plug Power from $3.75 to $2.50 and set a “neutral” rating on the stock in a report on Friday, July 10th. HC Wainwright reaffirmed a “buy” rating and set a $7.00 target price on shares of Plug Power in a research note on Tuesday. Roth Capital reiterated a “buy” rating and set a $5.00 price target (up from $3.50) on shares of Plug Power in a research report on Wednesday, August 12th. Morgan Stanley boosted their price target on shares of Plug Power from $1.50 to $1.65 and gave the company an “underweight” rating in a research note on Thursday, July 9th. Finally, Jefferies Financial Group upgraded shares of Plug Power to a “hold” rating in a report on Thursday, September 3rd.

Plug Power Price Performance

PLUG stock opened at $1.89 on Tuesday. The business has a fifty day moving average of $2.12 and a two-hundred day moving average of $2.61. The company has a quick ratio of 1.32, a current ratio of 2.32 and a debt-to-equity ratio of 1.29. The stock has a market cap of $2.64 billion, a price-to-earnings ratio of -1.50 and a beta of 2.28. Plug Power has a 52-week low of $1.70 and a 52-week high of $4.58.

Plug Power (NASDAQ:PLUG) last posted its earnings results on Monday, August 10th. The electronics maker reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.01. The company had revenue of $178.30 million for the quarter, compared to the consensus estimate of $169.11 million. Plug Power had a negative return on equity of 56.01% and a negative net margin of 220.59%.The company’s quarterly revenue was up 2.5% compared to the same quarter last year. As a group, research analysts anticipate that Plug Power will post -0.26 earnings per share for the current year.

Insiders Place Their Bets

In other Plug Power news, insider Benjamin Haycraft sold 200,000 shares of the business’s stock in a transaction that occurred on Friday, September 18th. The stock was sold at an average price of $2.14, for a total value of $428,000.00. Following the sale, the insider owned 101,249 shares of the company’s stock, valued at $216,672.86. The trade was a 66.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 232,560 shares of company stock valued at $496,178. 1.37% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of PLUG. Ameritas Advisory Services LLC purchased a new stake in shares of Plug Power in the 2nd quarter valued at $25,000. Greenleaf Trust purchased a new position in Plug Power during the 2nd quarter valued at about $29,000. DUTCH ASSET Corp purchased a new position in Plug Power during the 4th quarter valued at about $29,000. Manatuck Hill Partners LLC acquired a new position in Plug Power in the 2nd quarter valued at about $43,000. Finally, Sustainable Insight Capital Management LLC acquired a new position in Plug Power in the 4th quarter valued at about $31,000. 43.48% of the stock is currently owned by hedge funds and other institutional investors.

About Plug Power

Plug Power Inc is a clean-energy technology company that develops and supplies hydrogen and fuel-cell solutions. Its products include fuel-cell systems and engines for material-handling equipment, backup and stationary power, and other commercial and industrial applications. The company also provides electrolyzers for producing hydrogen, along with hydrogen generation, liquefaction, storage, and delivery services.

Plug Power serves customers in material handling, transportation, power generation, and industrial markets.