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

Plug Power, Inc. (NASDAQ:PLUG) has received a consensus recommendation of “Hold” from the fifteen ratings firms that are currently covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $3.4150.

PLUG has been the subject of several recent research reports. Susquehanna upped their price objective on Plug Power from $2.75 to $3.75 and gave the company a “neutral” rating in a research note on Wednesday, May 13th. Oppenheimer reaffirmed a “market perform” rating on shares of Plug Power in a research note on Tuesday, March 3rd. Wells Fargo & Company upped their price objective on Plug Power from $2.00 to $2.50 and gave the company an “equal weight” rating in a research note on Tuesday, May 19th. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Plug Power in a research note on Tuesday, March 3rd. Finally, Canaccord Genuity Group upped their price objective on Plug Power from $2.50 to $4.00 and gave the company a “hold” rating in a research note on Tuesday, May 12th.

Plug Power Stock Down 1.5%

PLUG stock opened at $2.57 on Friday. The stock has a market capitalization of $3.59 billion, a P/E ratio of -1.95 and a beta of 2.12. The company has a current ratio of 2.36, a quick ratio of 1.40 and a debt-to-equity ratio of 0.89. Plug Power has a 12 month low of $1.10 and a 12 month high of $4.58. The firm has a 50-day moving average price of $3.27 and a 200-day moving average price of $2.59.

Plug Power (NASDAQ:PLUG) last posted its earnings results on Monday, May 11th. The electronics maker reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01. Plug Power had a negative net margin of 227.13% and a negative return on equity of 49.30%. The firm had revenue of $163.51 million during the quarter, compared to analysts’ expectations of $139.87 million. During the same quarter in the prior year, the business earned ($0.21) earnings per share. The business’s revenue for the quarter was up 22.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Plug Power will post -0.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Kovack Advisors Inc. acquired a new position in shares of Plug Power in the third quarter valued at approximately $26,000. Towarzystwo Funduszy Inwestycyjnych PZU SA increased its position in Plug Power by 116.7% during the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 13,000 shares of the electronics maker’s stock valued at $26,000 after purchasing an additional 7,000 shares during the period. Kestra Private Wealth Services LLC acquired a new stake in Plug Power during the 3rd quarter valued at approximately $32,000. Procyon Advisors LLC acquired a new stake in Plug Power during the 4th quarter valued at approximately $29,000. Finally, DUTCH ASSET Corp acquired a new stake in Plug Power during the 4th quarter valued at approximately $29,000. Institutional investors and hedge funds own 43.48% of the company’s stock.

About Plug Power

Plug Power Inc is a U.S.-based company specializing in the design and manufacture of hydrogen fuel cell systems that serve as clean energy replacements for conventional batteries in electric vehicles and material handling equipment. Its core solutions include ProGen fuel cell engines, GenDrive power systems for forklifts and warehouse vehicles, and GenFuel hydrogen refueling infrastructure. These offerings are sold as standalone components or integrated turnkey solutions under the GenKey brand, providing customers with on-site refueling, equipment installation and maintenance services.

In addition to its fuel cell and refueling products, Plug Power develops backup power and off-grid energy solutions through its GenSure line, which targets telecommunications, data centers and utility applications.