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

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

A number of equities analysts recently commented on PLUG shares. HC Wainwright reaffirmed a “buy” rating and set a $18.00 price target on shares of Plug Power in a research report on Wednesday, November 13th. Wells Fargo & Company dropped their price target on shares of Plug Power from $3.00 to $2.00 and set an “equal weight” rating for the company in a research report on Thursday, November 14th. Truist Financial lowered their price objective on Plug Power from $3.00 to $2.00 and set a “hold” rating on the stock in a research note on Monday, August 12th. Royal Bank of Canada reduced their target price on 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, Susquehanna dropped their price target on Plug Power from $3.00 to $2.00 and set a “neutral” rating for the company in a research note on Monday, August 12th.

Plug Power Stock Up 1.6 %

NASDAQ:PLUG opened at $1.92 on Friday. Plug Power has a twelve month low of $1.60 and a twelve month high of $5.14. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of -0.90 and a beta of 1.81. The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15. The stock’s 50 day moving average price is $2.08 and its two-hundred day moving average price is $2.38.

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

Institutional Trading of Plug Power

Large investors have recently modified their holdings of the business. Arete Wealth Advisors LLC lifted its holdings in shares of Plug Power by 575.8% during the 3rd quarter. Arete Wealth Advisors LLC now owns 147,117 shares of the electronics maker’s stock worth $332,000 after acquiring an additional 125,347 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Plug Power by 23.6% in the 3rd quarter. Geode Capital Management LLC now owns 19,194,629 shares of the electronics maker’s stock worth $43,388,000 after purchasing an additional 3,662,456 shares in the last quarter. Duff & Phelps Investment Management Co. increased its position in shares of Plug Power by 31.7% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 75,160 shares of the electronics maker’s stock valued at $170,000 after purchasing an additional 18,110 shares during the last quarter. Main Management ETF Advisors LLC purchased a new position in shares of Plug Power during the 3rd quarter valued at about $823,000. Finally, XTX Topco Ltd bought a new stake in Plug Power in the 3rd quarter worth approximately $2,174,000. Institutional investors own 43.48% of the company’s stock.

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.