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

Plug Power Inc. (NASDAQ:PLUG) has received a consensus 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 rating, eight have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $4.12.

PLUG has been the subject of several analyst reports. BTIG Research downgraded shares of Plug Power from a “buy” rating to a “neutral” rating in a report on Thursday, November 14th. HC Wainwright reiterated a “buy” rating and issued a $18.00 price objective on shares of Plug Power in a research note on Wednesday, November 13th. StockNews.com upgraded Plug Power to a “sell” rating in a research note on Monday, February 10th. Piper Sandler decreased their price target on Plug Power from $1.60 to $1.40 and set an “underweight” rating for the company in a research report on Thursday, November 14th. Finally, Susquehanna upped their price objective on Plug Power from $2.00 to $2.50 and gave the company a “neutral” rating in a research note on Thursday, January 16th.

Plug Power Trading Down 1.2 %

Shares of Plug Power stock opened at $1.61 on Monday. The company has a market capitalization of $1.47 billion, a P/E ratio of -0.75 and a beta of 1.79. The stock has a fifty day simple moving average of $2.13 and a 200 day simple moving average of $2.11. Plug Power has a 12-month low of $1.52 and a 12-month high of $4.90. The company has a current ratio of 2.08, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15.

Institutional Trading of Plug Power

Several hedge funds and other institutional investors have recently modified their holdings of PLUG. Norges Bank purchased a new position in Plug Power in the 4th quarter valued at approximately $146,465,000. Point72 Asset Management L.P. bought a new position in shares of Plug Power in the fourth quarter worth $10,370,000. Vanguard Group Inc. grew its position in shares of Plug Power by 5.4% in the fourth quarter. Vanguard Group Inc. now owns 87,438,503 shares of the electronics maker’s stock valued at $186,244,000 after purchasing an additional 4,491,114 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Plug Power by 23.6% during the 3rd quarter. Geode Capital Management LLC now owns 19,194,629 shares of the electronics maker’s stock valued at $43,388,000 after purchasing an additional 3,662,456 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in shares of Plug Power during the 4th quarter valued at $6,235,000. 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.