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

Plug Power, Inc. (NASDAQ:PLUG) has earned a consensus rating of “Hold” from the seventeen analysts that are currently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, five have given a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $3.5875.

Several research analysts have recently issued reports on PLUG shares. Weiss Ratings cut shares of Plug Power from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, July 28th. Oppenheimer reiterated a “market perform” rating on shares of Plug Power in a research note on Tuesday, August 11th. Craig Hallum reissued a “buy” rating on shares of Plug Power in a research report on Tuesday, August 11th. Wall Street Zen downgraded shares of Plug Power from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. Finally, Roth Capital reaffirmed a “buy” rating and set a $5.00 price objective (up from $3.50) on shares of Plug Power in a report on Wednesday, August 12th.

Institutional Investors Weigh In On Plug Power

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC purchased a new position in shares of Plug Power during the second quarter worth approximately $25,000. Greenleaf Trust purchased a new stake in Plug Power in the 2nd quarter valued at $29,000. Towarzystwo Funduszy Inwestycyjnych PZU SA raised its position in Plug Power by 116.7% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 13,000 shares of the electronics maker’s stock valued at $26,000 after purchasing an additional 7,000 shares during the last quarter. Kestra Private Wealth Services LLC acquired a new stake in Plug Power during the 3rd quarter worth $32,000. Finally, DUTCH ASSET Corp acquired a new stake in Plug Power during the 4th quarter worth $29,000. Hedge funds and other institutional investors own 43.48% of the company’s stock.

Plug Power Price Performance

Shares of NASDAQ PLUG opened at $2.11 on Friday. The stock’s 50-day simple moving average is $2.20 and its 200-day simple moving average is $2.62. The firm has a market capitalization of $2.95 billion, a PE ratio of -1.67 and a beta of 2.21. Plug Power has a fifty-two week low of $1.43 and a fifty-two week high of $4.58. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.32 and a current ratio of 2.32.

Plug Power (NASDAQ:PLUG) last announced its quarterly earnings results on Monday, August 10th. The electronics maker reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.01. Plug Power had a negative return on equity of 56.01% and a negative net margin of 220.59%.The firm had revenue of $178.30 million during the quarter, compared to the consensus estimate of $169.11 million. Plug Power’s revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, equities research analysts forecast that Plug Power will post -0.26 EPS for the current fiscal year.

Plug Power Company Profile

Plug Power Inc is a U.S.-based company specializing in the design and manufacture of hydrogen fuel cell systems that serve as clean energy replacements for conventional batteries in electric vehicles and material handling equipment. Its core solutions include ProGen fuel cell engines, GenDrive power systems for forklifts and warehouse vehicles, and GenFuel hydrogen refueling infrastructure. These offerings are sold as standalone components or integrated turnkey solutions under the GenKey brand, providing customers with on-site refueling, equipment installation and maintenance services.

In addition to its fuel cell and refueling products, Plug Power develops backup power and off-grid energy solutions through its GenSure line, which targets telecommunications, data centers and utility applications.