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

Shares of Plug Power Inc. (NASDAQ:PLUG - Get Free Report) have earned a consensus rating of "Hold" from the twenty-three brokerages that are covering the company, MarketBeat reports. Four analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $4.52.

Several research firms recently issued reports on PLUG. Truist Financial dropped their target price on shares of Plug Power from $3.00 to $2.00 and set a "hold" rating on the stock in a report on Monday, August 12th. Royal Bank of Canada dropped their price target on shares of Plug Power from $3.50 to $2.50 and set a "sector perform" rating on the stock in a research report on Monday, August 12th. BTIG Research lowered shares of Plug Power from a "buy" rating to a "neutral" rating in a research report on Thursday, November 14th. Piper Sandler dropped their price objective 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. Finally, Craig Hallum reduced their price target on Plug Power from $4.00 to $3.00 and set a "buy" rating for the company in a research report on Thursday, November 14th.

Plug Power Price Performance

NASDAQ:PLUG traded up $0.03 during trading hours on Friday, hitting $1.92. The company's stock had a trading volume of 46,782,682 shares, compared to its average volume of 63,412,472. The company has a market capitalization of $1.75 billion, a P/E ratio of -0.90 and a beta of 1.81. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.08 and a quick ratio of 0.95. The stock has a fifty day simple moving average of $2.08 and a 200-day simple moving average of $2.38. Plug Power has a twelve month low of $1.60 and a twelve month high of $5.14.

Plug Power (NASDAQ:PLUG - Get Free Report) last posted its 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 business had revenue of $173.70 million for the quarter, compared to the consensus estimate of $207.25 million. Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. The company's revenue was down 12.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.47) earnings per share. On average, analysts anticipate that Plug Power will post -1.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Plug Power

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Plug Power by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 54,986,479 shares of the electronics maker's stock worth $189,153,000 after acquiring an additional 999,194 shares during the last quarter. Pitcairn Co. boosted its position in shares of Plug Power by 27.1% during the first quarter. Pitcairn Co. now owns 19,561 shares of the electronics maker's stock valued at $67,000 after buying an additional 4,169 shares during the period. Advisors Asset Management Inc. grew its stake in shares of Plug Power by 11.0% during the first quarter. Advisors Asset Management Inc. now owns 70,442 shares of the electronics maker's stock valued at $242,000 after buying an additional 7,006 shares during the last quarter. Gabelli Funds LLC grew its stake in shares of Plug Power by 42.9% during the first quarter. Gabelli Funds LLC now owns 250,000 shares of the electronics maker's stock valued at $860,000 after buying an additional 75,000 shares during the last quarter. Finally, 1832 Asset Management L.P. lifted its stake in shares of Plug Power by 29.4% during the 1st quarter. 1832 Asset Management L.P. now owns 44,000 shares of the electronics maker's stock worth $151,000 after acquiring an additional 10,000 shares during the last quarter. 43.48% of the stock is owned by institutional investors.

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.