Plug Power Inc. (NASDAQ:PLUG) Given Consensus Rating of “Hold” by Brokerages

Plug Power Inc. (NASDAQ:PLUG) has been assigned an average rating of “Hold” from the twenty-three analysts that are currently 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 given a strong buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $4.55.

Several research analysts have weighed in on the stock. BTIG Research cut shares of Plug Power from a “buy” rating to a “neutral” rating in a report on Thursday, November 14th. Canaccord Genuity Group lowered their target price on Plug Power from $2.50 to $2.25 and set a “hold” rating on the stock in a research note on Wednesday, November 13th. Piper Sandler reduced their price target on Plug Power from $1.60 to $1.40 and set an “underweight” rating for the company in a research note on Thursday, November 14th. Wells Fargo & Company lowered their price objective on Plug Power from $3.00 to $2.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 14th. Finally, Jefferies Financial Group reduced their target price on shares of Plug Power from $2.20 to $2.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd.

Hedge Funds Weigh In On Plug Power

Institutional investors have recently modified their holdings of the business. Profund Advisors LLC bought a new position in Plug Power in the second quarter valued at about $29,000. Prio Wealth Limited Partnership acquired a new stake in shares of Plug Power in the 3rd quarter valued at approximately $29,000. Catalyst Capital Advisors LLC grew its holdings in shares of Plug Power by 79.9% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 12,681 shares of the electronics maker’s stock valued at $29,000 after purchasing an additional 5,631 shares during the last quarter. Millburn Ridgefield Corp increased its position in Plug Power by 79.9% during the 3rd quarter. Millburn Ridgefield Corp now owns 12,681 shares of the electronics maker’s stock worth $29,000 after purchasing an additional 5,631 shares in the last quarter. Finally, First Commonwealth Financial Corp PA bought a new position in Plug Power in the 3rd quarter valued at approximately $29,000. Institutional investors and hedge funds own 43.48% of the company’s stock.

Plug Power Stock Up 1.1 %

PLUG stock opened at $2.74 on Friday. Plug Power has a 1-year low of $1.60 and a 1-year high of $5.14. The business’s 50 day simple moving average is $2.33 and its 200 day simple moving average is $2.25. The company has a current ratio of 2.08, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $2.50 billion, a PE ratio of -1.28 and a beta of 1.79.

Plug Power (NASDAQ:PLUG) last released its quarterly earnings data on Tuesday, November 12th. The electronics maker reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.01). The company had revenue of $173.70 million during the quarter, compared to analyst estimates of $207.25 million. Plug Power had a negative net margin of 214.05% and a negative return on equity of 46.99%. Plug Power’s revenue for the quarter was down 12.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.47) earnings per share. As a group, research analysts anticipate that Plug Power will post -1.2 EPS for the current 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.