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

Shares of Plug Power, Inc. (NASDAQ:PLUG) have earned an average recommendation of “Hold” from the eighteen ratings firms that are covering the company, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $2.7958.

A number of research firms recently commented on PLUG. Cowen reaffirmed a “buy” rating on shares of Plug Power in a research note on Wednesday, November 19th. HSBC set a $4.40 target price on Plug Power in a report on Thursday, October 9th. HC Wainwright reiterated a “buy” rating and set a $7.00 price target on shares of Plug Power in a report on Monday, November 24th. Wall Street Zen lowered Plug Power from a “hold” rating to a “sell” rating in a research report on Sunday, November 16th. Finally, Hsbc Global Res upgraded Plug Power to a “strong-buy” rating in a research report on Thursday, October 9th.

Insider Buying and Selling at Plug Power

In other news, EVP Benjamin Haycraft sold 10,000 shares of the stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $2.92, for a total value of $29,200.00. Following the completion of the sale, the executive vice president directly owned 467,583 shares of the company’s stock, valued at $1,365,342.36. This represents a 2.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.41% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Plug Power

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kovack Advisors Inc. purchased a new position in shares of Plug Power during the 3rd quarter valued at $26,000. Sender Co & Partners Inc. purchased a new stake in shares of Plug Power during the second quarter worth $26,000. Yousif Capital Management LLC acquired a new stake in Plug Power during the third quarter valued at $27,000. Prakash Investment Advisors LLC acquired a new stake in Plug Power during the third quarter valued at $27,000. Finally, O ROURKE & COMPANY Inc purchased a new position in Plug Power in the second quarter valued at about $30,000. Hedge funds and other institutional investors own 43.48% of the company’s stock.

Plug Power Price Performance

NASDAQ PLUG opened at $2.11 on Wednesday. The company has a current ratio of 1.59, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22. Plug Power has a 1 year low of $0.69 and a 1 year high of $4.58. The company has a market cap of $2.94 billion, a PE ratio of -0.91 and a beta of 2.28. The stock’s 50-day moving average price is $2.75 and its two-hundred day moving average price is $1.90.

Plug Power (NASDAQ:PLUG) last released its earnings results on Monday, November 10th. The electronics maker reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.13) 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 $177.06 million for the quarter, compared to the consensus estimate of $185.41 million. On average, analysts predict 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.