Plug Power Inc. (NASDAQ:PLUG) Given Average Rating of "Hold" by Analysts

Shares of Plug Power Inc. (NASDAQ:PLUG - Get Free Report) have received an average recommendation of "Hold" from the seventeen analysts that are currently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $2.29.

Several research analysts have recently commented on the company. UBS Group reduced their target price on Plug Power from $2.50 to $1.75 and set a "neutral" rating for the company in a research note on Friday, March 21st. Piper Sandler decreased their price objective on shares of Plug Power from $1.40 to $1.10 and set an "underweight" rating on the stock in a report on Wednesday, March 5th. Seaport Res Ptn cut shares of Plug Power from a "hold" rating to a "strong sell" rating in a research note on Monday, January 27th. Canaccord Genuity Group decreased their price target on shares of Plug Power from $2.00 to $1.25 and set a "hold" rating on the stock in a research note on Wednesday, March 5th. Finally, Morgan Stanley lowered their price target on shares of Plug Power from $1.75 to $1.60 and set an "underweight" rating on the stock in a report on Thursday, March 6th.

Institutional Investors Weigh In On Plug Power

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Plug Power by 5.4% during the 4th quarter. Vanguard Group Inc. now owns 87,438,503 shares of the electronics maker's stock worth $186,244,000 after acquiring an additional 4,491,114 shares in the last quarter. Norges Bank acquired a new stake in shares of Plug Power in the 4th quarter valued at $146,465,000. Geode Capital Management LLC increased its stake in shares of Plug Power by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 19,917,268 shares of the electronics maker's stock valued at $42,434,000 after purchasing an additional 722,639 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Plug Power by 8.5% during the 4th quarter. Legal & General Group Plc now owns 10,141,849 shares of the electronics maker's stock worth $21,602,000 after buying an additional 796,774 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Plug Power by 11.1% in the fourth quarter. Northern Trust Corp now owns 7,907,687 shares of the electronics maker's stock valued at $16,843,000 after buying an additional 790,650 shares in the last quarter. 43.48% of the stock is currently owned by institutional investors and hedge funds.

Plug Power Stock Performance

NASDAQ:PLUG traded up $0.21 during mid-day trading on Tuesday, hitting $1.02. The stock had a trading volume of 221,143,368 shares, compared to its average volume of 52,701,812. The company's 50 day simple moving average is $1.37 and its 200 day simple moving average is $1.91. The stock has a market cap of $943.68 million, a price-to-earnings ratio of -0.48 and a beta of 2.07. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 2.08. Plug Power has a twelve month low of $0.76 and a twelve month high of $4.90.

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.