Analysts Set Plug Power Inc. (NASDAQ:PLUG) Price Target at $4.52

Plug Power Inc. (NASDAQ:PLUG - Get Free Report) has been assigned a consensus recommendation of "Hold" from the twenty-three analysts that are presently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $4.52.

PLUG has been the topic of a number of research analyst reports. Piper Sandler decreased their price target on shares of Plug Power from $1.60 to $1.40 and set an "underweight" rating on the stock in a report on Thursday, November 14th. Evercore ISI reduced their target price on Plug Power from $5.00 to $4.00 and set an "outperform" rating on the stock in a research note on Wednesday, November 13th. BTIG Research downgraded Plug Power from a "buy" rating to a "neutral" rating in a research report on Thursday, November 14th. Canaccord Genuity Group cut their price objective on Plug Power from $2.50 to $2.25 and set a "hold" rating for the company in a report on Wednesday, November 13th. Finally, HC Wainwright reiterated a "buy" rating and set a $18.00 price objective on shares of Plug Power in a research report on Wednesday, November 13th.

Institutional Investors Weigh In On Plug Power

Several institutional investors and hedge funds have recently bought and sold shares of the business. Nations Financial Group Inc. IA ADV bought a new position in Plug Power in the second quarter worth $26,000. Aire Advisors LLC bought a new position in shares of Plug Power in the 2nd quarter worth about $28,000. Profund Advisors LLC purchased a new position in Plug Power during the 2nd quarter valued at about $29,000. Prio Wealth Limited Partnership bought a new stake in Plug Power during the third quarter worth about $29,000. Finally, Catalyst Capital Advisors LLC boosted its stake in Plug Power by 79.9% during the third quarter. Catalyst Capital Advisors LLC now owns 12,681 shares of the electronics maker's stock worth $29,000 after acquiring an additional 5,631 shares in the last quarter. Hedge funds and other institutional investors own 43.48% of the company's stock.

Plug Power Price Performance

Shares of PLUG stock traded down $0.24 on Wednesday, reaching $2.22. The company's stock had a trading volume of 46,325,785 shares, compared to its average volume of 43,337,988. The company has a market capitalization of $2.02 billion, a P/E ratio of -1.04 and a beta of 1.76. Plug Power has a 12-month low of $1.60 and a 12-month high of $5.14. The stock's 50 day simple moving average is $2.16 and its 200-day simple moving average is $2.28. The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15.

Plug Power (NASDAQ:PLUG - Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.01). Plug Power had a negative net margin of 214.05% and a negative return on equity of 46.99%. The business had revenue of $173.70 million during the quarter, compared to analysts' expectations of $207.25 million. The business's revenue was down 12.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.47) EPS. As a group, equities analysts predict that Plug Power will post -1.2 earnings per share 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.