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

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

A number of brokerages have recently issued reports on PLUG. Wall Street Zen cut shares of Plug Power from a “hold” rating to a “sell” rating in a research note on Sunday, November 16th. Canaccord Genuity Group set a $7.00 price target on Plug Power in a research note on Monday, November 24th. Susquehanna lowered their price objective on Plug Power from $3.50 to $2.50 and set a “neutral” rating on the stock in a research report on Monday, November 17th. HSBC set a $4.40 price objective on Plug Power in a research note on Thursday, October 9th. Finally, Cowen reissued a “buy” rating on shares of Plug Power in a research note on Wednesday, November 19th.

Insider Activity

In related news, insider Benjamin Haycraft sold 40,000 shares of the stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $2.20, for a total transaction of $88,000.00. Following the sale, the insider owned 373,809 shares in the company, valued at approximately $822,379.80. This represents a 9.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jose Luis Crespo bought 37,300 shares of Plug Power stock in a transaction dated Monday, December 15th. The stock was purchased at an average cost of $2.34 per share, for a total transaction of $87,282.00. Following the purchase, the insider owned 307,332 shares of the company’s stock, valued at approximately $719,156.88. This trade represents a 13.81% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold 60,000 shares of company stock worth $155,200 over the last ninety days. Insiders own 0.56% of the company’s stock.

Institutional Trading of Plug Power

Institutional investors and hedge funds have recently made changes to their positions in the business. Nuveen LLC purchased a new stake in shares of Plug Power in the 1st quarter worth $493,000. American Century Companies Inc. raised its holdings in shares of Plug Power by 38.7% in the first quarter. American Century Companies Inc. now owns 1,219,596 shares of the electronics maker’s stock valued at $1,646,000 after acquiring an additional 340,223 shares in the last quarter. Amundi lifted its stake in Plug Power by 1.7% in the first quarter. Amundi now owns 3,378,109 shares of the electronics maker’s stock worth $4,560,000 after acquiring an additional 55,144 shares during the period. Advisors Asset Management Inc. grew its holdings in Plug Power by 27.1% during the 1st quarter. Advisors Asset Management Inc. now owns 258,801 shares of the electronics maker’s stock worth $349,000 after acquiring an additional 55,145 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Plug Power by 12.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,607,153 shares of the electronics maker’s stock worth $3,520,000 after acquiring an additional 297,754 shares in the last quarter. 43.48% of the stock is currently owned by institutional investors.

Plug Power Stock Performance

PLUG stock opened at $2.07 on Friday. The stock’s 50 day simple moving average is $2.36 and its 200 day simple moving average is $2.05. The company has a current ratio of 1.32, a quick ratio of 0.70 and a debt-to-equity ratio of 0.24. Plug Power has a 12-month low of $0.69 and a 12-month high of $4.58. The stock has a market capitalization of $2.88 billion, a PE ratio of -0.87 and a beta of 1.74.

Plug Power (NASDAQ:PLUG) last posted its earnings results on Monday, November 10th. The electronics maker reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.01. The business had revenue of $177.06 million during the quarter, compared to the consensus estimate of $185.41 million. Plug Power had a negative net margin of 313.69% and a negative return on equity of 105.98%. As a group, research analysts forecast that Plug Power will post -1.21 earnings per share for the current fiscal year.

About Plug Power

Plug Power Inc is a U.S.-based company specializing in the design and manufacture of hydrogen fuel cell systems that serve as clean energy replacements for conventional batteries in electric vehicles and material handling equipment. Its core solutions include ProGen fuel cell engines, GenDrive power systems for forklifts and warehouse vehicles, and GenFuel hydrogen refueling infrastructure. These offerings are sold as standalone components or integrated turnkey solutions under the GenKey brand, providing customers with on-site refueling, equipment installation and maintenance services.

In addition to its fuel cell and refueling products, Plug Power develops backup power and off-grid energy solutions through its GenSure line, which targets telecommunications, data centers and utility applications.