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

Shares of Plug Power Inc. (NASDAQ:PLUG) have received a consensus recommendation of “Hold” from the twenty-five research firms that are presently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation, fifteen have issued a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $6.20.

A number of research analysts have recently weighed in on PLUG shares. Piper Sandler raised their price objective on Plug Power from $2.80 to $2.90 and gave the company an “underweight” rating in a research report on Tuesday, March 5th. UBS Group lowered Plug Power from a “buy” rating to a “neutral” rating and set a $4.75 price target for the company. in a research report on Tuesday, February 6th. BMO Capital Markets lowered Plug Power from a “market perform” rating to an “underperform” rating and dropped their price target for the stock from $3.50 to $2.50 in a research report on Wednesday, January 24th. B. Riley dropped their price target on Plug Power from $18.00 to $8.00 and set a “buy” rating for the company in a research report on Wednesday, January 24th. Finally, Truist Financial lifted their price target on Plug Power from $3.00 to $4.00 and gave the stock a “hold” rating in a research report on Wednesday, February 28th.

Plug Power Trading Down 5.0 %

Shares of Plug Power stock opened at $3.41 on Monday. The firm has a market cap of $2.33 billion, a price-to-earnings ratio of -1.49 and a beta of 1.56. The business has a 50-day moving average price of $3.67 and a 200-day moving average price of $4.97. The company has a quick ratio of 0.86, a current ratio of 1.85 and a debt-to-equity ratio of 0.18. Plug Power has a twelve month low of $2.26 and a twelve month high of $13.44.

Plug Power (NASDAQ:PLUG) last issued its quarterly earnings data on Friday, March 1st. The electronics maker reported ($1.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.52). The firm had revenue of $222.20 million for the quarter, compared to analysts’ expectations of $234.21 million. Plug Power had a negative net margin of 153.57% and a negative return on equity of 38.09%. The company’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.38) EPS. Equities research analysts anticipate that Plug Power will post -0.97 EPS for the current fiscal year.

Institutional Trading of Plug Power

Several institutional investors and hedge funds have recently modified their holdings of the stock. UniSuper Management Pty Ltd raised its stake in Plug Power by 78.5% in the third quarter. UniSuper Management Pty Ltd now owns 2,064,304 shares of the electronics maker’s stock worth $15,689,000 after buying an additional 907,604 shares in the last quarter. Gabelli Funds LLC raised its stake in Plug Power by 9.4% in the third quarter. Gabelli Funds LLC now owns 87,500 shares of the electronics maker’s stock worth $665,000 after buying an additional 7,500 shares in the last quarter. New York Life Investment Management LLC raised its stake in Plug Power by 109.7% in the third quarter. New York Life Investment Management LLC now owns 58,895 shares of the electronics maker’s stock worth $448,000 after buying an additional 30,807 shares in the last quarter. Kestra Advisory Services LLC raised its stake in Plug Power by 138.7% in the third quarter. Kestra Advisory Services LLC now owns 108,369 shares of the electronics maker’s stock worth $824,000 after buying an additional 62,978 shares in the last quarter. Finally, QRG Capital Management Inc. bought a new position in Plug Power in the third quarter worth approximately $274,000. Institutional investors own 49.99% of the company’s stock.

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.