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

Shares of Plug Power, Inc. (NASDAQ:PLUG) have earned a consensus rating of “Hold” from the eighteen analysts that are covering the company, MarketBeat reports. Five research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation, four have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $2.7346.

Several analysts have recently commented on PLUG shares. Canaccord Genuity Group set a $7.00 target price on Plug Power in a research note on Monday, November 24th. Hsbc Global Res upgraded Plug Power to a “strong-buy” rating in a report on Thursday, October 9th. Susquehanna reduced their price objective on Plug Power from $3.50 to $2.50 and set a “neutral” rating for the company in a research note on Monday, November 17th. Morgan Stanley reaffirmed an “underweight” rating and set a $1.50 target price on shares of Plug Power in a research report on Thursday, October 16th. Finally, Wall Street Zen cut Plug Power from a “hold” rating to a “sell” rating in a report on Sunday, November 16th.

Plug Power Stock Down 3.9%

Plug Power stock opened at $2.22 on Thursday. The company has a market capitalization of $3.09 billion, a PE ratio of -0.94 and a beta of 1.68. Plug Power has a 12-month low of $0.69 and a 12-month high of $4.58. The firm’s fifty day moving average is $2.16 and its 200 day moving average is $2.18. The company has a quick ratio of 0.70, a current ratio of 1.32 and a debt-to-equity ratio of 0.24.

Plug Power (NASDAQ:PLUG) last posted its quarterly 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. Plug Power had a negative net margin of 313.69% and a negative return on equity of 105.98%. The business had revenue of $177.06 million during the quarter, compared to analysts’ expectations of $185.41 million. As a group, sell-side analysts predict that Plug Power will post -1.21 EPS for the current fiscal year.

Insider Buying and Selling at Plug Power

In other news, insider Benjamin Haycraft sold 40,000 shares of the business’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $2.20, for a total transaction of $88,000.00. Following the completion of the sale, the insider directly owned 373,809 shares of the company’s stock, valued at $822,379.80. The trade was a 9.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jose Luis Crespo bought 37,300 shares of the stock in a transaction that occurred on Monday, December 15th. The stock was acquired at an average price of $2.34 per share, for a total transaction of $87,282.00. Following the acquisition, the insider directly owned 307,332 shares in the company, valued at $719,156.88. The trade was a 13.81% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have sold 90,000 shares of company stock worth $204,000. Corporate insiders own 0.56% of the company’s stock.

Institutional Trading of 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. bought a new position in shares of Plug Power in the third quarter valued at approximately $26,000. Yousif Capital Management LLC bought a new stake in Plug Power during the third quarter worth $27,000. Prakash Investment Advisors LLC purchased a new stake in Plug Power in the 3rd quarter valued at $27,000. Prime Capital Investment Advisors LLC purchased a new stake in Plug Power in the 3rd quarter valued at $30,000. Finally, Oak Thistle LLC bought a new position in Plug Power during the 3rd quarter valued at $30,000. 43.48% of the stock is owned by institutional investors.

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.