Plug Power Inc. (NASDAQ:PLUG) Receives $4.52 Average PT from Analysts

Plug Power Inc. (NASDAQ:PLUG) has received a consensus rating of “Hold” from the twenty-three research firms that are presently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $4.55.

PLUG has been the subject of several research analyst reports. Susquehanna boosted their price target on shares of Plug Power from $2.00 to $2.50 and gave the company a “neutral” rating in a report on Thursday. HC Wainwright reissued a “buy” rating and issued a $18.00 target price on shares of Plug Power in a research note on Wednesday, November 13th. Jefferies Financial Group dropped their price target on Plug Power from $2.20 to $2.00 and set a “hold” rating on the stock in a research report on Thursday, October 3rd. Canaccord Genuity Group decreased their price objective on Plug Power from $2.50 to $2.25 and set a “hold” rating for the company in a research report on Wednesday, November 13th. Finally, Evercore ISI dropped their target price on shares of Plug Power from $5.00 to $4.00 and set an “outperform” rating on the stock in a report on Wednesday, November 13th.

Plug Power Trading Up 1.1 %

NASDAQ:PLUG opened at $2.74 on Friday. The company has a current ratio of 2.08, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. Plug Power has a 1-year low of $1.60 and a 1-year high of $5.14. The firm has a market capitalization of $2.50 billion, a price-to-earnings ratio of -1.28 and a beta of 1.79. The business’s 50-day moving average price is $2.33 and its two-hundred day moving average price is $2.25.

Plug Power (NASDAQ:PLUG) last announced its quarterly earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). The firm had revenue of $173.70 million during the quarter, compared to analyst estimates of $207.25 million. Plug Power had a negative net margin of 214.05% and a negative return on equity of 46.99%. The business’s revenue was down 12.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.47) earnings per share. On average, equities analysts expect that Plug Power will post -1.2 earnings per share for the current year.

Institutional Trading of Plug Power

Institutional investors and hedge funds have recently bought and sold shares of the stock. Arkadios Wealth Advisors increased its position in shares of Plug Power by 88.0% during the 4th quarter. Arkadios Wealth Advisors now owns 62,082 shares of the electronics maker’s stock worth $132,000 after purchasing an additional 29,062 shares during the last quarter. Kieckhefer Group LLC acquired a new position in Plug Power during the fourth quarter worth $138,000. Sanctuary Advisors LLC bought a new stake in Plug Power during the third quarter worth $206,000. Arete Wealth Advisors LLC lifted its stake in Plug Power by 575.8% in the third quarter. Arete Wealth Advisors LLC now owns 147,117 shares of the electronics maker’s stock valued at $332,000 after acquiring an additional 125,347 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Plug Power by 23.6% in the 3rd quarter. Geode Capital Management LLC now owns 19,194,629 shares of the electronics maker’s stock valued at $43,388,000 after acquiring an additional 3,662,456 shares during the period. Institutional investors own 43.48% of the company’s stock.

Plug Power Company Profile

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.