Analysts Set Plug Power Inc. (NASDAQ:PLUG) PT at $4.52

Shares of Plug Power Inc. (NASDAQ:PLUG) have received an average rating of “Hold” from the twenty-three analysts that are presently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $4.52.

PLUG has been the topic of several recent analyst reports. Royal Bank of Canada dropped 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. Piper Sandler dropped their price target on shares of Plug Power from $1.60 to $1.40 and set an “underweight” rating on the stock in a research note on Thursday, November 14th. HC Wainwright reiterated a “buy” rating and issued a $18.00 price target on shares of Plug Power in a research note on Wednesday, November 13th. Evercore ISI lowered their target price on shares of Plug Power from $5.00 to $4.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 13th. Finally, 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 report on Thursday, October 3rd.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PLUG. SteelPeak Wealth LLC acquired a new stake in shares of Plug Power in the second quarter valued at $26,000. Nations Financial Group Inc. IA ADV purchased a new stake in shares of Plug Power during the second quarter valued at $26,000. Aire Advisors LLC purchased a new stake in shares of Plug Power during the second quarter valued at $28,000. Madison Park Capital Advisors LLC purchased a new stake in shares of Plug Power during the second quarter valued at $29,000. Finally, Profund Advisors LLC purchased a new stake in shares of Plug Power during the second quarter valued at $29,000. Institutional investors and hedge funds own 43.48% of the company’s stock.

Plug Power Stock Up 14.6 %

PLUG stock opened at $2.20 on Friday. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of -1.03 and a beta of 1.81. Plug Power has a fifty-two week low of $1.60 and a fifty-two week high of $5.14. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 2.08. The company’s 50 day moving average price is $2.08 and its 200 day moving average price is $2.38.

Plug Power (NASDAQ:PLUG) last announced its quarterly 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 company 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 revenue for the quarter was down 12.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.47) earnings per share. On average, equities research analysts anticipate that Plug Power will post -1.2 EPS for the current fiscal 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.