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

Shares of Plug Power Inc. (NASDAQ:PLUG) have earned an average rating of “Hold” from the eighteen research firms that are currently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $4.12.

A number of research analysts recently weighed in on the company. StockNews.com upgraded Plug Power to a “sell” rating in a report on Monday. Canaccord Genuity Group dropped their price objective on shares of Plug Power from $2.50 to $2.25 and set a “hold” rating on the stock in a research note on Wednesday, November 13th. Wells Fargo & Company dropped their target price 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. Seaport Res Ptn cut shares of Plug Power from a “hold” rating to a “strong sell” rating in a research report on Monday, January 27th. Finally, Susquehanna boosted their price objective on Plug Power from $2.00 to $2.50 and gave the company a “neutral” rating in a report on Thursday, January 16th.

Hedge Funds Weigh In On Plug Power

Several hedge funds and other institutional investors have recently modified their holdings of PLUG. Dimensional Fund Advisors LP boosted its stake in Plug Power by 20.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,109,530 shares of the electronics maker’s stock valued at $2,588,000 after purchasing an additional 187,205 shares during the period. Marshall Wace LLP raised its holdings in shares of Plug Power by 80.0% during the second quarter. Marshall Wace LLP now owns 24,492 shares of the electronics maker’s stock valued at $57,000 after buying an additional 10,882 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Plug Power by 144.4% during the second quarter. The Manufacturers Life Insurance Company now owns 382,186 shares of the electronics maker’s stock worth $890,000 after buying an additional 225,834 shares during the period. Algert Global LLC acquired a new position in shares of Plug Power during the second quarter worth approximately $152,000. Finally, Azzad Asset Management Inc. ADV bought a new position in Plug Power in the 3rd quarter worth approximately $37,000. Institutional investors and hedge funds own 43.48% of the company’s stock.

Plug Power Stock Up 1.9 %

NASDAQ PLUG opened at $1.65 on Thursday. The business’s 50-day moving average price is $2.30 and its 200 day moving average price is $2.15. 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 has a twelve month low of $1.57 and a twelve month high of $4.90.

Plug Power (NASDAQ:PLUG) last announced its quarterly earnings data 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). 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 previous year, the company earned ($0.47) earnings per share. Research analysts expect that Plug Power will post -1.21 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.