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

Plug Power Inc. (NASDAQ:PLUG - Get Free Report) has earned an average rating of "Hold" from the twenty-seven analysts that are currently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a sell recommendation, fifteen have given a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $5.01.

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company decreased their target price on shares of Plug Power from $4.00 to $3.00 and set an "equal weight" rating on the stock in a research report on Friday, August 9th. Piper Sandler dropped their price objective on shares of Plug Power from $2.50 to $2.40 and set an "underweight" rating on the stock in a research note on Monday, July 22nd. Jefferies Financial Group dropped their price target on shares of Plug Power from $2.20 to $2.00 and set a "hold" rating for the company in a research note on Thursday, October 3rd. Canaccord Genuity Group decreased their price objective on shares of Plug Power from $3.00 to $2.50 and set a "hold" rating for the company in a report on Monday, August 12th. Finally, Truist Financial decreased their price objective on shares of Plug Power from $3.00 to $2.00 and set a "hold" rating for the company in a report on Monday, August 12th.

Remove Ads

Plug Power Stock Performance

Shares of PLUG stock traded down $0.11 during mid-day trading on Tuesday, hitting $2.13. The stock had a trading volume of 40,783,304 shares, compared to its average volume of 39,328,621. The company's 50-day simple moving average is $2.04 and its 200-day simple moving average is $2.45. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.07 and a quick ratio of 0.91. The firm has a market cap of $1.87 billion, a PE ratio of -0.90 and a beta of 1.79. Plug Power has a fifty-two week low of $1.60 and a fifty-two week high of $6.95.

Plug Power (NASDAQ:PLUG - Get Free Report) last posted its earnings results on Thursday, August 8th. The electronics maker reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.06). Plug Power had a negative net margin of 216.80% and a negative return on equity of 47.51%. The business had revenue of $143.40 million for the quarter, compared to analysts' expectations of $184.54 million. During the same quarter last year, the business posted ($0.35) earnings per share. The business's revenue was down 44.9% compared to the same quarter last year. Sell-side analysts anticipate that Plug Power will post -1.16 earnings per share for the current year.

Institutional Investors Weigh In On Plug Power

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Pitcairn Co. raised its position in Plug Power by 27.1% in the first quarter. Pitcairn Co. now owns 19,561 shares of the electronics maker's stock worth $67,000 after acquiring an additional 4,169 shares in the last quarter. Arkadios Wealth Advisors increased its holdings in shares of Plug Power by 18.2% in the 3rd quarter. Arkadios Wealth Advisors now owns 33,020 shares of the electronics maker's stock valued at $75,000 after purchasing an additional 5,075 shares during the period. Cetera Advisors LLC increased its holdings in shares of Plug Power by 33.0% in the 1st quarter. Cetera Advisors LLC now owns 27,733 shares of the electronics maker's stock valued at $95,000 after purchasing an additional 6,885 shares during the period. Advisors Asset Management Inc. increased its holdings in shares of Plug Power by 11.0% in the 1st quarter. Advisors Asset Management Inc. now owns 70,442 shares of the electronics maker's stock valued at $242,000 after purchasing an additional 7,006 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in shares of Plug Power by 8.6% in the 2nd quarter. Victory Capital Management Inc. now owns 88,102 shares of the electronics maker's stock valued at $205,000 after purchasing an additional 7,014 shares during the period. 43.48% of the stock is currently owned by institutional investors.

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.