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

Shares of Plug Power, Inc. (NASDAQ:PLUG) have been assigned an average recommendation of “Hold” from the sixteen analysts that are currently covering the stock, Marketbeat reports. Five research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation, two have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $3.00.

A number of brokerages have commented on PLUG. BMO Capital Markets reaffirmed an “underperform” rating and set a $1.00 price target on shares of Plug Power in a research report on Tuesday, March 3rd. Jefferies Financial Group lowered their price target on Plug Power from $2.00 to $1.80 and set a “hold” rating for the company in a research report on Monday, March 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Plug Power in a research report on Thursday, January 22nd. BTIG Research reaffirmed a “neutral” rating on shares of Plug Power in a research report on Tuesday, March 3rd. Finally, Wells Fargo & Company boosted their price objective on Plug Power from $1.50 to $2.00 and gave the company an “equal weight” rating in a report on Wednesday, March 4th.

Plug Power Stock Performance

Shares of PLUG opened at $2.69 on Tuesday. The stock has a 50-day moving average of $2.14 and a two-hundred day moving average of $2.38. Plug Power has a one year low of $0.69 and a one year high of $4.58. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.46 and a current ratio of 2.31. The stock has a market cap of $3.75 billion, a P/E ratio of -1.99 and a beta of 1.79.

Plug Power (NASDAQ:PLUG) last issued its quarterly earnings results on Monday, March 2nd. The electronics maker reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.04. Plug Power had a negative return on equity of 45.97% and a negative net margin of 229.83%.The company had revenue of $225.22 million during the quarter, compared to analysts’ expectations of $217.38 million. During the same quarter in the previous year, the firm posted ($1.48) EPS. As a group, research analysts predict that Plug Power will post -1.21 EPS for the current year.

Insider Activity

In other news, insider Benjamin Haycraft sold 40,000 shares of the business’s stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $2.17, for a total value of $86,800.00. Following the completion of the transaction, the insider owned 333,809 shares of the company’s stock, valued at $724,365.53. The trade was a 10.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.56% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Plug Power

Several institutional investors and hedge funds have recently modified their holdings of the stock. Profund Advisors LLC lifted its holdings in shares of Plug Power by 24.4% in the 3rd quarter. Profund Advisors LLC now owns 20,188 shares of the electronics maker’s stock valued at $47,000 after buying an additional 3,961 shares during the period. SlateStone Wealth LLC lifted its holdings in shares of Plug Power by 16.0% in the 3rd quarter. SlateStone Wealth LLC now owns 29,077 shares of the electronics maker’s stock valued at $68,000 after buying an additional 4,000 shares during the period. Signature Estate & Investment Advisors LLC lifted its holdings in shares of Plug Power by 33.4% in the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 18,414 shares of the electronics maker’s stock valued at $43,000 after buying an additional 4,615 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of Plug Power by 53.6% in the 4th quarter. International Assets Investment Management LLC now owns 15,773 shares of the electronics maker’s stock valued at $31,000 after buying an additional 5,503 shares during the period. Finally, Mackenzie Financial Corp lifted its holdings in shares of Plug Power by 10.6% in the 3rd quarter. Mackenzie Financial Corp now owns 58,098 shares of the electronics maker’s stock valued at $135,000 after buying an additional 5,584 shares during the period. Institutional investors and hedge funds own 43.48% of the company’s stock.

Plug Power Company Profile

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.