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

Shares of Plug Power Inc. (NASDAQ:PLUG) have received a consensus recommendation of “Hold” from the seventeen ratings firms that are presently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $2.29.

A number of equities research analysts recently commented on PLUG shares. BMO Capital Markets lowered their price target on shares of Plug Power from $1.60 to $1.40 and set an “underperform” rating on the stock in a report on Wednesday, March 5th. Susquehanna cut their target price on shares of Plug Power from $1.80 to $1.25 and set a “neutral” rating for the company in a research report on Monday, April 14th. B. Riley dropped their price objective on Plug Power from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. HC Wainwright restated a “buy” rating and issued a $3.00 price objective on shares of Plug Power in a research report on Monday, March 24th. Finally, Piper Sandler lowered their target price on shares of Plug Power from $1.40 to $1.10 and set an “underweight” rating on the stock in a research note on Wednesday, March 5th.

Plug Power Stock Performance

NASDAQ PLUG opened at $0.79 on Tuesday. The company has a market capitalization of $729.60 million, a PE ratio of -0.37 and a beta of 2.07. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 2.08. Plug Power has a 52-week low of $0.76 and a 52-week high of $4.90. The company has a 50-day simple moving average of $1.45 and a 200 day simple moving average of $1.94.

Institutional Trading of Plug Power

Several institutional investors have recently bought and sold shares of the company. Bouvel Investment Partners LLC lifted its stake in shares of Plug Power by 2,424.2% in the first quarter. Bouvel Investment Partners LLC now owns 378,634 shares of the electronics maker’s stock worth $511,000 after buying an additional 363,634 shares in the last quarter. Compagnie Lombard Odier SCmA raised its holdings in Plug Power by 183.7% in the 1st quarter. Compagnie Lombard Odier SCmA now owns 139,000 shares of the electronics maker’s stock worth $188,000 after acquiring an additional 90,000 shares during the last quarter. Bellecapital International Ltd. bought a new position in Plug Power in the 1st quarter valued at approximately $128,000. SG Americas Securities LLC boosted its stake in Plug Power by 110.6% during the 1st quarter. SG Americas Securities LLC now owns 2,615,819 shares of the electronics maker’s stock valued at $3,531,000 after purchasing an additional 1,373,486 shares during the last quarter. Finally, Miracle Mile Advisors LLC bought a new stake in shares of Plug Power in the 1st quarter worth $26,000. 43.48% of the stock is owned by hedge funds and other institutional investors.

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.