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

Shares of Plug Power Inc. (NASDAQ:PLUG) have been assigned an average rating of “Hold” from the twenty-three brokerages that are presently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $4.55.

Several equities research analysts recently weighed in on the stock. Craig Hallum dropped their price objective on shares of Plug Power from $4.00 to $3.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. Susquehanna increased their price target on Plug Power from $2.00 to $2.50 and gave the stock a “neutral” rating in a research report on Thursday. Evercore ISI cut their price target on Plug Power from $5.00 to $4.00 and set an “outperform” rating on the stock in a report on Wednesday, November 13th. Piper Sandler lowered their price objective 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. Finally, Wells Fargo & Company cut their target price on Plug Power from $3.00 to $2.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 14th.

Plug Power Trading Down 10.9 %

Shares of PLUG opened at $2.44 on Friday. Plug Power has a 52 week low of $1.60 and a 52 week 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. The stock has a 50 day moving average of $2.34 and a 200-day moving average of $2.25.

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 analysts’ consensus estimates of ($0.24) by ($0.01). The business had revenue of $173.70 million during the quarter, compared to analyst estimates of $207.25 million. Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. The business’s revenue for the quarter was down 12.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.47) EPS. As a group, sell-side analysts expect that Plug Power will post -1.2 EPS for the current year.

Institutional Trading of Plug Power

Several institutional investors have recently modified their holdings of PLUG. Charles Schwab Investment Management Inc. increased its holdings 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 valued at $15,000,000 after buying an additional 1,354,500 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Plug Power during the third quarter worth $2,174,000. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Plug Power by 24.5% during the third 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 last quarter. Stifel Financial Corp boosted its position in shares of Plug Power by 23.4% in 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 period. Finally, MetLife Investment Management LLC increased its stake 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 purchasing an additional 265,042 shares in the last quarter. Institutional investors and hedge funds own 43.48% of the company’s stock.

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.