Analysts Set Plug Power Inc. (NASDAQ:PLUG) PT at $5.49

Plug Power Inc. (NASDAQ:PLUG) has earned an average rating of “Hold” from the twenty-seven analysts that are presently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a sell recommendation, fifteen have issued a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $5.49.

PLUG has been the topic of a number of recent analyst reports. Marathon Capitl reiterated an “equal weight” rating on shares of Plug Power in a research report on Tuesday, March 26th. TD Cowen decreased their price target on shares of Plug Power from $7.00 to $5.00 and set a “buy” rating on the stock in a report on Friday, May 10th. Craig Hallum dropped their price objective on shares of Plug Power from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Monday, March 4th. Citigroup cut shares of Plug Power from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $3.25 to $2.00 in a research note on Friday, April 5th. Finally, Susquehanna lowered their price target on shares of Plug Power from $3.50 to $3.00 and set a “neutral” rating for the company in a report on Friday, May 10th.

Insider Transactions at Plug Power

In related news, Director George C. Mcnamee sold 10,000 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $2.56, for a total transaction of $25,600.00. Following the sale, the director now owns 639,572 shares in the company, valued at approximately $1,637,304.32. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.70% of the company’s stock.

Institutional Trading of Plug Power

Hedge funds have recently modified their holdings of the stock. Norges Bank acquired a new stake in Plug Power in the fourth quarter worth $97,800,000. Rafferty Asset Management LLC boosted its position in shares of Plug Power by 69.5% during the 4th quarter. Rafferty Asset Management LLC now owns 359,537 shares of the electronics maker’s stock worth $1,618,000 after purchasing an additional 147,435 shares in the last quarter. State of New Jersey Common Pension Fund D increased its position in Plug Power by 104.9% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 651,695 shares of the electronics maker’s stock valued at $2,933,000 after buying an additional 333,708 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Plug Power by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,374,782 shares of the electronics maker’s stock worth $15,187,000 after buying an additional 102,095 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in Plug Power by 183.6% in the fourth quarter. SG Americas Securities LLC now owns 1,656,282 shares of the electronics maker’s stock worth $7,453,000 after acquiring an additional 1,072,344 shares in the last quarter. Institutional investors own 43.48% of the company’s stock.

Plug Power Price Performance

Shares of NASDAQ:PLUG opened at $2.33 on Wednesday. The firm has a 50 day moving average of $2.83 and a 200-day moving average of $3.41. Plug Power has a 12 month low of $2.25 and a 12 month high of $13.44. The company has a current ratio of 1.94, a quick ratio of 0.87 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $1.73 billion, a PE ratio of -0.97 and a beta of 1.77.

Plug Power (NASDAQ:PLUG) last announced its quarterly earnings data on Thursday, May 9th. The electronics maker reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.11). Plug Power had a negative net margin of 181.96% and a negative return on equity of 43.10%. The firm had revenue of $120.26 million during the quarter, compared to the consensus estimate of $162.92 million. On average, equities research analysts predict that Plug Power will post -1.13 EPS for the current fiscal year.

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.