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

Plug Power Inc. (NASDAQ:PLUG) has received an average rating of “Hold” from the twenty-six analysts that are covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell recommendation, fifteen have assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $6.05.

A number of brokerages have recently issued reports on PLUG. Royal Bank of Canada lowered their price target on shares of Plug Power from $5.00 to $3.50 and set a “sector perform” rating on the stock in a report on Wednesday, January 24th. Evercore ISI lowered their price objective on Plug Power from $9.00 to $6.00 and set an “outperform” rating on the stock in a research report on Monday, March 4th. Susquehanna decreased their target price on Plug Power from $4.50 to $3.50 and set a “neutral” rating on the stock in a research note on Wednesday, January 24th. Marathon Capitl reiterated an “equal weight” rating on shares of Plug Power in a research report on Tuesday, March 26th. Finally, BMO Capital Markets downgraded Plug Power from a “market perform” rating to an “underperform” rating and lowered their price target for the company from $3.50 to $2.50 in a research report on Wednesday, January 24th.

Institutional Trading of Plug Power

Several hedge funds and other institutional investors have recently made changes to their positions in PLUG. Raymond James & Associates grew its holdings in shares of Plug Power by 2.2% during the third quarter. Raymond James & Associates now owns 83,433 shares of the electronics maker’s stock valued at $634,000 after buying an additional 1,783 shares during the last quarter. Financial Advocates Investment Management increased its holdings in shares of Plug Power by 10.6% in the 3rd quarter. Financial Advocates Investment Management now owns 20,840 shares of the electronics maker’s stock worth $158,000 after purchasing an additional 1,992 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Plug Power by 5.5% in the third quarter. Principal Financial Group Inc. now owns 40,818 shares of the electronics maker’s stock worth $310,000 after purchasing an additional 2,124 shares during the last quarter. Treasurer of the State of North Carolina lifted its holdings in shares of Plug Power by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 233,192 shares of the electronics maker’s stock valued at $1,049,000 after purchasing an additional 2,280 shares in the last quarter. Finally, Byrne Asset Management LLC boosted its position in shares of Plug Power by 17.1% during the third quarter. Byrne Asset Management LLC now owns 16,415 shares of the electronics maker’s stock valued at $125,000 after buying an additional 2,400 shares during the last quarter. Hedge funds and other institutional investors own 43.48% of the company’s stock.

Plug Power Trading Down 1.1 %

Shares of PLUG opened at $2.71 on Tuesday. The firm has a market cap of $1.89 billion, a P/E ratio of -1.18 and a beta of 1.64. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.86 and a current ratio of 1.85. The business has a 50-day moving average of $3.14 and a 200 day moving average of $3.91. Plug Power has a fifty-two week low of $2.25 and a fifty-two week high of $13.44.

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 the consensus estimate of ($0.56) by ($0.52). The business had revenue of $222.20 million during the quarter, compared to the consensus estimate of $234.21 million. Plug Power had a negative return on equity of 38.09% and a negative net margin of 153.57%. The firm’s quarterly revenue was up .7% on a year-over-year basis. During the same period last year, the business posted ($0.38) earnings per share. As a group, research analysts forecast that Plug Power will post -0.94 EPS for the current 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.