Plug Power Inc. (NASDAQ:PLUG) Receives Average Recommendation of “Hold” from Brokerages

Plug Power Inc. (NASDAQ:PLUG) has been assigned an average recommendation of “Hold” from the twenty-three ratings firms that are covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $4.52.

A number of equities research analysts have recently weighed in on the company. HC Wainwright reiterated a “buy” rating and issued a $18.00 price target on shares of Plug Power in a report on Wednesday, November 13th. Evercore ISI lowered their target price on shares of Plug Power from $5.00 to $4.00 and set an “outperform” rating for the company in a research note on Wednesday, November 13th. Jefferies Financial Group reduced their price target on shares of Plug Power from $2.20 to $2.00 and set a “hold” rating on the stock in a research report on Thursday, October 3rd. Piper Sandler decreased their price target on shares of Plug Power from $1.60 to $1.40 and set an “underweight” rating for the company in a report on Thursday, November 14th. Finally, BTIG Research lowered shares of Plug Power from a “buy” rating to a “neutral” rating in a research note on Thursday, November 14th.

Institutional Investors Weigh In On Plug Power

Institutional investors have recently bought and sold shares of the stock. Nations Financial Group Inc. IA ADV lifted its position in Plug Power by 42.3% in the third quarter. Nations Financial Group Inc. IA ADV now owns 15,798 shares of the electronics maker’s stock worth $36,000 after purchasing an additional 4,700 shares during the period. Arkadios Wealth Advisors raised its stake in shares of Plug Power by 18.2% in the 3rd quarter. Arkadios Wealth Advisors now owns 33,020 shares of the electronics maker’s stock worth $75,000 after buying an additional 5,075 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Plug Power by 0.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 803,881 shares of the electronics maker’s stock valued at $1,817,000 after buying an additional 5,485 shares during the period. Catalyst Capital Advisors LLC boosted its stake in Plug Power by 79.9% during the third quarter. Catalyst Capital Advisors LLC now owns 12,681 shares of the electronics maker’s stock valued at $29,000 after buying an additional 5,631 shares in the last quarter. Finally, Millburn Ridgefield Corp grew its holdings in Plug Power by 79.9% during the third quarter. Millburn Ridgefield Corp now owns 12,681 shares of the electronics maker’s stock worth $29,000 after acquiring an additional 5,631 shares during the period. Institutional investors and hedge funds own 43.48% of the company’s stock.

Plug Power Price Performance

Shares of PLUG stock opened at $2.46 on Wednesday. The firm has a fifty day moving average of $2.16 and a two-hundred day moving average of $2.28. The firm has a market cap of $2.24 billion, a P/E ratio of -1.15 and a beta of 1.76. 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.

Plug Power (NASDAQ:PLUG) last posted its quarterly earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. The firm had revenue of $173.70 million during the quarter, compared to analyst estimates of $207.25 million. During the same quarter last year, the business posted ($0.47) earnings per share. The firm’s revenue for the quarter was down 12.6% on a year-over-year basis. As a group, research 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.