Brokerages Set Plug Power Inc. (NASDAQ:PLUG) PT at $5.49

Plug Power Inc. (NASDAQ:PLUG) has received an average rating of “Hold” from the twenty-seven research firms that are presently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $5.48.

PLUG has been the topic of a number of recent research reports. Morgan Stanley decreased their price objective on Plug Power from $3.00 to $2.50 and set an “underweight” rating on the stock in a research report on Friday, May 10th. B. Riley upgraded Plug Power to a “strong-buy” rating in a research report on Tuesday, June 25th. TD Cowen dropped their price objective on Plug Power from $7.00 to $5.00 and set a “buy” rating for the company in a report on Friday, May 10th. Citigroup lowered Plug Power from a “neutral” rating to a “sell” rating and cut their target price for the company from $3.25 to $2.00 in a research note on Friday, April 5th. Finally, Susquehanna decreased their target price on Plug Power from $3.50 to $3.00 and set a “neutral” rating for the company in a research report on Friday, May 10th.

Insider Buying and Selling

In related news, Director George C. Mcnamee sold 10,000 shares of Plug Power stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $2.56, for a total value of $25,600.00. Following the sale, the director now owns 639,572 shares of the company’s stock, valued at approximately $1,637,304.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.70% of the stock is owned by corporate insiders.

Institutional Trading of Plug Power

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Plug Power by 1.9% during the first quarter. Vanguard Group Inc. now owns 54,986,479 shares of the electronics maker’s stock worth $189,153,000 after purchasing an additional 999,194 shares during the last quarter. Norges Bank acquired a new position in shares of Plug Power during the 4th quarter worth about $97,800,000. Pinnacle Associates Ltd. grew its holdings in shares of Plug Power by 41.4% in the 1st quarter. Pinnacle Associates Ltd. now owns 3,775,808 shares of the electronics maker’s stock valued at $12,989,000 after acquiring an additional 1,105,813 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Plug Power by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,374,782 shares of the electronics maker’s stock valued at $15,187,000 after acquiring an additional 102,095 shares during the last quarter. Finally, Swedbank AB bought a new stake in Plug Power during the first quarter worth about $10,687,000. 43.48% of the stock is currently owned by institutional investors and hedge funds.

Plug Power Price Performance

NASDAQ PLUG opened at $2.49 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.87 and a current ratio of 1.94. The stock’s 50 day simple moving average is $2.81 and its 200 day simple moving average is $3.15. Plug Power has a one year low of $2.21 and a one year high of $13.17.

Plug Power (NASDAQ:PLUG) last announced its quarterly earnings data on Thursday, May 9th. The electronics maker reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.11). The firm had revenue of $120.26 million during the quarter, compared to the consensus estimate of $162.92 million. Plug Power had a negative net margin of 181.96% and a negative return on equity of 43.10%. Sell-side analysts anticipate that Plug Power will post -1.12 EPS for the current fiscal 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.