Plug Power Inc. (NASDAQ:PLUG) Given Average Recommendation of “Hold” by Brokerages

Shares of Plug Power Inc. (NASDAQ:PLUG) have been assigned an average recommendation of “Hold” from the twenty-seven analysts that are currently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a sell recommendation, fifteen have given a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $5.19.

A number of analysts have recently issued reports on the company. Susquehanna lowered their price target on Plug Power from $3.00 to $2.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. Craig Hallum lowered their price target on Plug Power from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Canaccord Genuity Group lowered their price objective on Plug Power from $3.00 to $2.50 and set a “hold” rating on the stock in a research note on Monday, August 12th. Piper Sandler lowered their price objective on Plug Power from $2.50 to $2.40 and set an “underweight” rating on the stock in a research note on Monday, July 22nd. Finally, B. Riley raised Plug Power to a “strong-buy” rating in a research note on Tuesday, June 25th.

Institutional Investors Weigh In On Plug Power

Large investors have recently bought and sold shares of the stock. Independent Advisor Alliance purchased a new stake in Plug Power during the 4th quarter worth about $45,000. Mosley Wealth Management purchased a new stake in Plug Power during the 1st quarter worth about $35,000. J.W. Cole Advisors Inc. purchased a new stake in Plug Power during the 1st quarter worth about $36,000. HighPoint Advisor Group LLC purchased a new stake in Plug Power during the 4th quarter worth about $48,000. Finally, HBK Sorce Advisory LLC purchased a new stake in Plug Power during the 1st quarter worth about $37,000. Hedge funds and other institutional investors own 43.48% of the company’s stock.

Plug Power Stock Up 1.0 %

Plug Power stock opened at $1.96 on Monday. The stock has a market capitalization of $1.72 billion, a PE ratio of -0.82 and a beta of 1.79. Plug Power has a 12 month low of $1.60 and a 12 month high of $8.80. The business has a 50 day simple moving average of $2.26 and a 200-day simple moving average of $2.74. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.07 and a quick ratio of 0.91.

Plug Power (NASDAQ:PLUG) last posted its quarterly earnings data on Thursday, August 8th. The electronics maker reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.06). The business had revenue of $143.40 million during the quarter, compared to analysts’ expectations of $184.54 million. Plug Power had a negative net margin of 216.80% and a negative return on equity of 47.51%. The firm’s quarterly revenue was down 44.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.35) earnings per share. On average, analysts anticipate that Plug Power will post -1.15 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.