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

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

Several brokerages have recently weighed in on PLUG. Canaccord Genuity Group decreased their price target on Plug Power from $2.50 to $2.25 and set a "hold" rating on the stock in a research report on Wednesday, November 13th. Evercore ISI decreased 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. BTIG Research cut shares of Plug Power from a "buy" rating to a "neutral" rating in a research note on Thursday, November 14th. Wells Fargo & Company reduced their price target on shares of Plug Power from $3.00 to $2.00 and set an "equal weight" rating for the company in a research report on Thursday, November 14th. Finally, Jefferies Financial Group lowered their price objective 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.

Institutional Trading of Plug Power

A number of institutional investors have recently made changes to their positions in PLUG. Charles Schwab Investment Management Inc. increased its stake in shares of Plug Power by 25.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,637,039 shares of the electronics maker's stock worth $15,000,000 after buying an additional 1,354,500 shares during the period. XTX Topco Ltd bought a new stake in shares of Plug Power in the third quarter worth about $2,174,000. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Plug Power by 24.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,421,222 shares of the electronics maker's stock valued at $5,472,000 after purchasing an additional 476,060 shares during the period. Stifel Financial Corp raised its position in Plug Power by 23.4% during the 3rd quarter. Stifel Financial Corp now owns 1,398,398 shares of the electronics maker's stock valued at $3,160,000 after purchasing an additional 265,514 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its holdings in Plug Power by 166.4% in the 3rd quarter. MetLife Investment Management LLC now owns 424,297 shares of the electronics maker's stock worth $959,000 after buying an additional 265,042 shares during the period. Hedge funds and other institutional investors own 43.48% of the company's stock.

Plug Power Stock Performance

Shares of PLUG stock traded up $0.20 during trading on Friday, reaching $2.87. 73,320,889 shares of the company's stock traded hands, compared to its average volume of 92,001,125. The firm's 50-day moving average is $2.30 and its 200 day moving average is $2.24. The company has a market capitalization of $2.62 billion, a P/E ratio of -1.34 and a beta of 1.79. Plug Power has a 1 year low of $1.60 and a 1 year high of $5.14. 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 (NASDAQ:PLUG - Get Free Report) last posted its earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.01). The company had revenue of $173.70 million for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.47) EPS. Equities research analysts expect that Plug Power will post -1.2 EPS for the current year.

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.