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

Plug Power Inc. (NASDAQ:PLUG) has received an average rating of “Hold” from the eighteen analysts that are presently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $4.12.

PLUG has been the topic of a number of recent analyst reports. BTIG Research downgraded Plug Power from a “buy” rating to a “neutral” rating in a research note on Thursday, November 14th. HC Wainwright restated a “buy” rating and issued a $18.00 target price on shares of Plug Power in a report on Wednesday, November 13th. Seaport Res Ptn downgraded shares of Plug Power from a “hold” rating to a “strong sell” rating in a report on Monday, January 27th. Evercore ISI lowered their target price 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. Finally, Piper Sandler cut their price target on shares of Plug Power from $1.60 to $1.40 and set an “underweight” rating on the stock in a report on Thursday, November 14th.

Plug Power Trading Down 5.1 %

Shares of Plug Power stock opened at $1.85 on Thursday. The company has a current ratio of 2.08, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. Plug Power has a 1 year low of $1.60 and a 1 year high of $4.90. The firm has a market capitalization of $1.69 billion, a PE ratio of -0.86 and a beta of 1.79. The firm’s 50 day moving average is $2.35 and its 200 day moving average is $2.18.

Plug Power (NASDAQ:PLUG) last issued its quarterly earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. The business had revenue of $173.70 million for the quarter, compared to analyst estimates of $207.25 million. During the same quarter last year, the firm posted ($0.47) EPS. Plug Power’s revenue for the quarter was down 12.6% on a year-over-year basis. Equities research analysts forecast that Plug Power will post -1.21 earnings per share for the current fiscal year.

Institutional Trading of Plug Power

A number of institutional investors have recently modified their holdings of PLUG. Oppenheimer & Co. Inc. bought a new stake in shares of Plug Power during the fourth quarter valued at about $25,000. Pacific Sage Partners LLC bought a new stake in Plug Power during the 4th quarter worth approximately $25,000. Prio Wealth Limited Partnership purchased a new stake in Plug Power in the 3rd quarter worth approximately $29,000. Catalyst Capital Advisors LLC boosted its holdings in Plug Power by 79.9% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 12,681 shares of the electronics maker’s stock valued at $29,000 after purchasing an additional 5,631 shares during the period. Finally, Millburn Ridgefield Corp grew its position in shares of Plug Power by 79.9% during the 3rd quarter. Millburn Ridgefield Corp now owns 12,681 shares of the electronics maker’s stock valued at $29,000 after purchasing an additional 5,631 shares in the last quarter. 43.48% of the stock is currently owned by hedge funds and other institutional investors.

About Plug Power

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.