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

Plug Power Inc. (NASDAQ:PLUG) has been assigned a consensus rating of “Hold” from the twenty-three research firms that are currently covering the company, Marketbeat reports. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $4.52.

A number of equities research analysts have weighed in on PLUG shares. Piper Sandler cut 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. Royal Bank of Canada reduced their price objective on Plug Power from $3.50 to $2.50 and set a “sector perform” rating for the company in a research report on Monday, August 12th. Wells Fargo & Company dropped their target price on Plug Power from $3.00 to $2.00 and set an “equal weight” rating on the stock in a report on Thursday, November 14th. Susquehanna lowered their price target on Plug Power from $3.00 to $2.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Finally, BTIG Research downgraded shares of Plug Power from a “buy” rating to a “neutral” rating in a research report on Thursday, November 14th.

Institutional Trading of Plug Power

Several large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its position in shares of Plug Power by 23.6% during the 3rd quarter. Geode Capital Management LLC now owns 19,194,629 shares of the electronics maker’s stock valued at $43,388,000 after acquiring an additional 3,662,456 shares during the period. Swedbank AB purchased a new position in Plug Power during the first quarter valued at $10,687,000. SG Americas Securities LLC grew its holdings in Plug Power by 134.0% during the second quarter. SG Americas Securities LLC now owns 2,458,537 shares of the electronics maker’s stock valued at $5,728,000 after purchasing an additional 1,407,858 shares during the period. Charles Schwab Investment Management Inc. increased its position in 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 in the last quarter. Finally, Vontobel Holding Ltd. raised its stake in shares of Plug Power by 44.3% in the third quarter. Vontobel Holding Ltd. now owns 3,426,354 shares of the electronics maker’s stock worth $7,744,000 after buying an additional 1,051,400 shares during the period. 43.48% of the stock is currently owned by institutional investors.

Plug Power Trading Up 2.9 %

NASDAQ:PLUG opened at $2.13 on Friday. Plug Power has a 12 month low of $1.60 and a 12 month 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 company has a 50-day moving average price of $2.08 and a 200-day moving average price of $2.37. The stock has a market cap of $1.94 billion, a price-to-earnings ratio of -1.00 and a beta of 1.81.

Plug Power (NASDAQ:PLUG) last released its quarterly earnings results 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 firm had revenue of $173.70 million for the quarter, compared to the consensus estimate of $207.25 million. Plug Power had a negative net margin of 214.05% and a negative return on equity of 46.99%. The company’s revenue for the quarter was down 12.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.47) earnings per share. Equities analysts predict 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.