Plug Power Inc. (NASDAQ:PLUG) Receives $4.52 Average PT from Brokerages

Plug Power Inc. (NASDAQ:PLUG) has received an average rating of “Hold” from the twenty-three research firms that are covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $4.52.

A number of analysts recently commented on the company. BTIG Research lowered Plug Power from a “buy” rating to a “neutral” rating in a report on Thursday, November 14th. Susquehanna lowered their target price 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 reduced their price target on shares of Plug Power from $4.00 to $3.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Wells Fargo & Company decreased their price objective on shares of Plug Power from $3.00 to $2.00 and set an “equal weight” rating for the company in a report on Thursday, November 14th. Finally, Truist Financial dropped their target price on shares of Plug Power from $3.00 to $2.00 and set a “hold” rating on the stock in a research note on Monday, August 12th.

Institutional Trading of Plug Power

Hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its stake 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 valued at $43,388,000 after acquiring an additional 3,662,456 shares during the last quarter. Swedbank AB purchased a new stake in shares of Plug Power during the first quarter valued at approximately $10,687,000. SG Americas Securities LLC increased its stake in shares of Plug Power by 134.0% in the second quarter. SG Americas Securities LLC now owns 2,458,537 shares of the electronics maker’s stock worth $5,728,000 after buying an additional 1,407,858 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Plug Power by 25.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,637,039 shares of the electronics maker’s stock valued at $15,000,000 after buying an additional 1,354,500 shares during the last quarter. Finally, Vontobel Holding Ltd. grew its holdings in Plug Power by 44.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 3,426,354 shares of the electronics maker’s stock worth $7,744,000 after acquiring an additional 1,051,400 shares during the last quarter. 43.48% of the stock is owned by institutional investors.

Plug Power Price Performance

PLUG opened at $2.13 on Friday. Plug Power has a 1 year low of $1.60 and a 1 year high of $5.14. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.08 and a quick ratio of 0.95. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of -1.00 and a beta of 1.81. The firm’s fifty day moving average price is $2.08 and its two-hundred day moving average price is $2.37.

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

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.