Plug Power, Inc. (NASDAQ:PLUG) Given Consensus Rating of “Reduce” by Brokerages

Plug Power, Inc. (NASDAQ:PLUG) has earned a consensus rating of “Reduce” from the sixteen analysts that are covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $1.8808.

A number of brokerages have issued reports on PLUG. Wells Fargo & Company increased their price target on Plug Power from $1.00 to $1.50 and gave the stock an “equal weight” rating in a research note on Thursday, August 14th. BMO Capital Markets cut their price target on Plug Power from $1.10 to $1.00 and set an “underperform” rating for the company in a research note on Tuesday, August 12th. Evercore ISI upgraded Plug Power to a “strong sell” rating in a research note on Tuesday, July 15th. Jefferies Financial Group increased their price target on Plug Power from $0.90 to $1.60 and gave the stock a “hold” rating in a research note on Wednesday, July 23rd. Finally, Susquehanna increased their price target on Plug Power from $1.00 to $1.80 and gave the stock a “neutral” rating in a research note on Monday, July 21st.

Institutional Investors Weigh In On Plug Power

Several large investors have recently made changes to their positions in PLUG. Miracle Mile Advisors LLC bought a new stake in shares of Plug Power in the first quarter worth about $26,000. Sender Co & Partners Inc. bought a new stake in Plug Power during the second quarter worth approximately $26,000. Baader Bank Aktiengesellschaft bought a new stake in Plug Power during the first quarter worth approximately $28,000. O ROURKE & COMPANY Inc bought a new stake in Plug Power during the second quarter worth approximately $30,000. Finally, Abel Hall LLC bought a new stake in Plug Power during the second quarter worth approximately $30,000. 43.48% of the stock is owned by institutional investors.

Plug Power Trading Up 5.0%

NASDAQ PLUG opened at $2.10 on Friday. Plug Power has a 1-year low of $0.69 and a 1-year high of $3.32. The company has a current ratio of 1.59, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22. The stock has a 50-day moving average of $1.61 and a 200-day moving average of $1.32. The firm has a market cap of $2.43 billion, a PE ratio of -0.91 and a beta of 2.09.

Plug Power (NASDAQ:PLUG) last released its quarterly earnings results on Monday, August 11th. The electronics maker reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). Plug Power had a negative net margin of 292.84% and a negative return on equity of 90.22%. The business had revenue of $173.97 million for the quarter, compared to the consensus estimate of $157.97 million. As a group, sell-side analysts forecast that Plug Power will post -1.21 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.