Plug Power, Inc. (NASDAQ:PLUG) Receives $3.42 Consensus PT from Brokerages

Shares of Plug Power, Inc. (NASDAQ:PLUG) have earned an average rating of “Hold” from the fifteen analysts that are presently covering the firm, Marketbeat.com reports. Four 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 target price among analysts that have issued ratings on the stock in the last year is $3.4150.

Several research firms have recently weighed in on PLUG. HC Wainwright restated a “buy” rating and issued a $7.00 price target on shares of Plug Power in a research note on Tuesday, March 3rd. Jefferies Financial Group decreased their price target on Plug Power from $2.00 to $1.80 and set a “hold” rating for the company in a research note on Monday, March 9th. BMO Capital Markets boosted their price target on Plug Power from $1.00 to $1.20 and gave the stock an “underperform” rating in a research note on Tuesday, May 12th. B. Riley Financial boosted their price target on Plug Power from $3.00 to $5.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Finally, Oppenheimer restated a “market perform” rating on shares of Plug Power in a research note on Tuesday, March 3rd.

Plug Power Stock Performance

Plug Power stock opened at $3.95 on Wednesday. Plug Power has a 12 month low of $0.81 and a 12 month high of $4.58. The business’s fifty day simple moving average is $3.05 and its two-hundred day simple moving average is $2.47. The company has a current ratio of 2.36, a quick ratio of 1.40 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $5.51 billion, a price-to-earnings ratio of -2.99 and a beta of 2.12.

Plug Power (NASDAQ:PLUG) last posted its quarterly earnings results on Monday, May 11th. The electronics maker reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.01. Plug Power had a negative return on equity of 49.30% and a negative net margin of 227.13%.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 previous year, the business earned ($0.21) earnings per share. The company’s revenue was up 22.3% on a year-over-year basis. As a group, equities analysts predict that Plug Power will post -0.26 earnings per share for the current fiscal year.

Institutional Trading of Plug Power

Several hedge funds have recently bought and sold shares of PLUG. Kovack Advisors Inc. bought a new stake in Plug Power during the third quarter valued at about $26,000. Towarzystwo Funduszy Inwestycyjnych PZU SA grew its holdings in Plug Power by 116.7% during the fourth 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. Sender Co & Partners Inc. bought a new stake in Plug Power during the second quarter valued at about $26,000. Prakash Investment Advisors LLC bought a new stake in Plug Power during the third quarter valued at about $27,000. Finally, Procyon Advisors LLC bought a new stake in Plug Power during the fourth quarter valued at about $29,000. Institutional investors 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.