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

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

A number of research firms have recently issued reports on PLUG. Canaccord Genuity Group lowered their price objective on Plug Power from $2.50 to $2.25 and set a “hold” rating on the stock in a research report on Wednesday, November 13th. HC Wainwright restated a “buy” rating and issued a $18.00 price objective on shares of Plug Power in a research note on Wednesday, November 13th. Evercore ISI reduced their price objective on shares of Plug Power from $5.00 to $4.00 and set an “outperform” rating for the company in a report on Wednesday, November 13th. Jefferies Financial Group lowered their target price on shares of Plug Power from $2.20 to $2.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Finally, Piper Sandler cut their price target on shares of Plug Power from $1.60 to $1.40 and set an “underweight” rating for the company in a research note on Thursday, November 14th.

Institutional Investors Weigh In On Plug Power

Several large investors have recently modified their holdings of PLUG. Nations Financial Group Inc. IA ADV acquired a new position in shares of Plug Power in the 2nd quarter valued at approximately $26,000. Aire Advisors LLC bought a new position in Plug Power in the second quarter valued at approximately $28,000. Profund Advisors LLC acquired a new position in shares of Plug Power in the second quarter valued at approximately $29,000. Prio Wealth Limited Partnership bought a new stake in shares of Plug Power during the third quarter worth $29,000. Finally, Catalyst Capital Advisors LLC raised its holdings in shares of Plug Power by 79.9% during the third quarter. Catalyst Capital Advisors LLC now owns 12,681 shares of the electronics maker’s stock worth $29,000 after acquiring an additional 5,631 shares during the period. 43.48% of the stock is currently owned by institutional investors.

Plug Power Stock Performance

NASDAQ PLUG opened at $2.56 on Wednesday. The company’s fifty day moving average is $2.18 and its two-hundred day moving average is $2.26. Plug Power has a 52-week low of $1.60 and a 52-week high of $5.14. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.08 and a quick ratio of 0.95. The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of -1.20 and a beta of 1.76.

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

Plug Power Company Profile

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.