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

Shares of Plug Power Inc. (NASDAQ:PLUG) have been given a consensus recommendation of “Hold” by the twenty-seven analysts that are currently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a sell recommendation, fifteen have assigned 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 target among analysts that have issued ratings on the stock in the last year is $5.01.

A number of equities analysts recently issued reports on PLUG shares. Canaccord Genuity Group dropped their price objective on shares of Plug Power from $3.00 to $2.50 and set a “hold” rating on the stock in a report on Monday, August 12th. Piper Sandler lowered their price target on shares of Plug Power from $2.50 to $2.40 and set an “underweight” rating on the stock in a report on Monday, July 22nd. Wells Fargo & Company lowered their price target on shares of Plug Power from $4.00 to $3.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. Royal Bank of Canada lowered 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 report on Monday, August 12th. Finally, Craig Hallum lowered their price target on shares of Plug Power from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Friday, August 9th.

Institutional Investors Weigh In On Plug Power

Several large investors have recently bought and sold shares of PLUG. SteelPeak Wealth LLC purchased 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 in the second quarter valued at $26,000. Aire Advisors LLC purchased a new stake in shares of Plug Power in the second quarter valued at $28,000. Madison Park Capital Advisors LLC purchased a new stake in shares of Plug Power in the second quarter valued at $29,000. Finally, Profund Advisors LLC purchased a new stake in shares of Plug Power in the second quarter valued at $29,000. Institutional investors own 43.48% of the company’s stock.

Plug Power Stock Performance

Shares of NASDAQ PLUG opened at $2.24 on Tuesday. The firm’s 50-day moving average price is $2.04 and its 200-day moving average price is $2.45. The company has a quick ratio of 0.91, a current ratio of 2.07 and a debt-to-equity ratio of 0.16. The company has a market cap of $1.97 billion, a PE ratio of -0.95 and a beta of 1.79. Plug Power has a 52-week low of $1.60 and a 52-week high of $6.95.

Plug Power (NASDAQ:PLUG) last posted its quarterly earnings data on Thursday, August 8th. The electronics maker reported ($0.36) earnings per share (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 return on equity of 47.51% and a negative net margin of 216.80%. The business’s quarterly revenue was down 44.9% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.35) EPS. As a group, analysts anticipate that Plug Power will post -1.16 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.