Plug Power Inc. (NASDAQ:PLUG) Receives $4.52 Consensus Target Price from Analysts

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

Several research firms recently commented on PLUG. HC Wainwright reaffirmed a “buy” rating and set a $18.00 target price on shares of Plug Power in a report on Wednesday, November 13th. Canaccord Genuity Group cut their target price on shares of Plug Power from $2.50 to $2.25 and set a “hold” rating for the company in a report on Wednesday, November 13th. Evercore ISI lowered their price target on shares of Plug Power from $5.00 to $4.00 and set an “outperform” rating on the stock in a report on Wednesday, November 13th. Jefferies Financial Group dropped 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. Finally, Craig Hallum decreased their price objective on shares of Plug Power from $4.00 to $3.00 and set a “buy” rating for the company in a research report on Thursday, November 14th.

Hedge Funds Weigh In On Plug Power

Institutional investors have recently bought and sold shares of the company. Profund Advisors LLC purchased a new stake in shares of Plug Power during the second quarter worth $29,000. Prio Wealth Limited Partnership purchased a new stake in Plug Power during the 3rd quarter worth about $29,000. Catalyst Capital Advisors LLC raised its position in Plug Power by 79.9% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 12,681 shares of the electronics maker’s stock valued at $29,000 after purchasing an additional 5,631 shares in the last quarter. First Commonwealth Financial Corp PA purchased a new position in shares of Plug Power in the 3rd quarter valued at about $29,000. Finally, Millburn Ridgefield Corp grew its position in shares of 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 buying an additional 5,631 shares in the last quarter. 43.48% of the stock is owned by institutional investors and hedge funds.

Plug Power Stock Performance

PLUG opened at $2.66 on Friday. The company has a market cap of $2.42 billion, a P/E ratio of -1.24 and a beta of 1.79. The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15. The firm’s 50-day moving average price is $2.30 and its 200-day moving average price is $2.24. Plug Power has a 52-week low of $1.60 and a 52-week high of $5.14.

Plug Power (NASDAQ:PLUG) last issued 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). The firm had revenue of $173.70 million for the quarter, compared to analyst estimates of $207.25 million. Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. The business’s revenue was down 12.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.47) EPS. As a group, equities analysts anticipate that Plug Power will post -1.2 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.