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

Shares of Plug Power Inc. (NASDAQ:PLUG) have been assigned an average rating of “Hold” from the twenty-six research firms that are covering the company, MarketBeat reports. Four analysts have rated the stock with a sell recommendation, fifteen have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $6.05.

Several equities research analysts have issued reports on PLUG shares. BMO Capital Markets lowered shares of Plug Power from a “market perform” rating to an “underperform” rating and dropped their target price for the company from $3.50 to $2.50 in a research report on Wednesday, January 24th. UBS Group lowered shares of Plug Power from a “buy” rating to a “neutral” rating and set a $4.75 target price for the company. in a research report on Tuesday, February 6th. Craig Hallum dropped their target price on shares of Plug Power from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Monday, March 4th. Piper Sandler lifted their target price on shares of Plug Power from $2.80 to $2.90 and gave the company an “underweight” rating in a research report on Tuesday, March 5th. Finally, Royal Bank of Canada dropped their target price on shares of Plug Power from $5.00 to $3.50 and set a “sector perform” rating for the company in a research report on Wednesday, January 24th.

Plug Power Price Performance

PLUG stock opened at $2.96 on Friday. The firm has a 50 day moving average of $3.62 and a 200-day moving average of $4.49. The company has a current ratio of 1.85, a quick ratio of 0.86 and a debt-to-equity ratio of 0.18. Plug Power has a 12 month low of $2.26 and a 12 month high of $13.44. The firm has a market capitalization of $2.03 billion, a P/E ratio of -1.29 and a beta of 1.54.

Plug Power (NASDAQ:PLUG) last released its quarterly earnings data on Friday, March 1st. The electronics maker reported ($1.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.52). Plug Power had a negative net margin of 153.57% and a negative return on equity of 38.09%. The firm had revenue of $222.20 million during the quarter, compared to the consensus estimate of $234.21 million. During the same quarter last year, the business posted ($0.38) earnings per share. Plug Power’s revenue was up .7% compared to the same quarter last year. As a group, sell-side analysts predict that Plug Power will post -0.94 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Millburn Ridgefield Corp purchased a new stake in shares of Plug Power in the 3rd quarter worth about $29,000. ICA Group Wealth Management LLC purchased a new stake in shares of Plug Power in the 4th quarter worth about $35,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Plug Power in the 1st quarter worth about $41,000. FAS Wealth Partners Inc. purchased a new stake in shares of Plug Power in the 4th quarter worth about $45,000. Finally, Independent Advisor Alliance purchased a new stake in shares of Plug Power in the 4th quarter worth about $45,000. 43.48% of the stock is owned by hedge funds and other institutional investors.

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.