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

Shares of Plug Power, Inc. (NASDAQ:PLUG) have earned a consensus recommendation of “Hold” from the nineteen ratings firms that are covering the company, MarketBeat reports. Six analysts have rated the stock with a sell rating, seven have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $2.5393.

Several research firms have weighed in on PLUG. Morgan Stanley reiterated an “underweight” rating and issued a $1.50 target price on shares of Plug Power in a report on Thursday. Jefferies Financial Group boosted their target price on shares of Plug Power from $0.90 to $1.60 and gave the company a “hold” rating in a report on Wednesday, July 23rd. Susquehanna boosted their target price on shares of Plug Power from $1.80 to $3.50 and gave the company a “neutral” rating in a report on Monday, October 13th. Wells Fargo & Company boosted their target price on shares of Plug Power from $1.00 to $1.50 and gave the company an “equal weight” rating in a report on Thursday, August 14th. Finally, HSBC set a $4.40 target price on shares of Plug Power in a report on Thursday, October 9th.

Plug Power Stock Performance

PLUG opened at $3.40 on Tuesday. The firm has a market capitalization of $3.93 billion, a PE ratio of -1.47 and a beta of 2.23. Plug Power has a twelve month low of $0.69 and a twelve month high of $4.58. The firm’s 50-day moving average price is $2.29 and its 200 day moving average price is $1.57. The company has a current ratio of 1.59, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22.

Plug Power (NASDAQ:PLUG) last posted its quarterly earnings results on Monday, August 11th. The electronics maker reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The business had revenue of $173.97 million for the quarter, compared to analyst estimates of $157.97 million. Plug Power had a negative return on equity of 90.22% and a negative net margin of 292.84%. As a group, sell-side analysts expect that Plug Power will post -1.21 EPS for the current fiscal year.

Institutional Investors Weigh In On Plug Power

Institutional investors and hedge funds have recently made changes to their positions in the stock. Yousif Capital Management LLC purchased a new stake in shares of Plug Power in the 3rd quarter valued at approximately $27,000. Oak Thistle LLC purchased a new stake in shares of Plug Power in the 3rd quarter valued at approximately $30,000. Sowell Financial Services LLC purchased a new stake in shares of Plug Power in the 3rd quarter valued at approximately $39,000. Sender Co & Partners Inc. purchased a new stake in shares of Plug Power in the 2nd quarter valued at approximately $26,000. Finally, O ROURKE & COMPANY Inc purchased a new stake in shares of Plug Power in the 2nd quarter valued at approximately $30,000. 43.48% of the stock is 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.