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

Plug Power Inc. (NASDAQ:PLUG) has been given an average recommendation of “Hold” by the eighteen research firms that are covering the firm, MarketBeat reports. Four analysts have rated the stock with a sell recommendation, eight have given a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $4.12.

Several brokerages have recently commented on PLUG. StockNews.com upgraded Plug Power to a “sell” rating in a research report on Wednesday, January 22nd. BTIG Research cut shares of Plug Power from a “buy” rating to a “neutral” rating in a research report on Thursday, November 14th. Piper Sandler lowered their price objective on shares of Plug Power from $1.60 to $1.40 and set an “underweight” rating for the company in a 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, HC Wainwright reissued a “buy” rating and issued a $18.00 price target on shares of Plug Power in a research note on Wednesday, November 13th.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Nations Financial Group Inc. IA ADV grew its holdings in Plug Power by 42.3% in the third quarter. Nations Financial Group Inc. IA ADV now owns 15,798 shares of the electronics maker’s stock worth $36,000 after purchasing an additional 4,700 shares during the period. Arkadios Wealth Advisors boosted its position in shares of Plug Power by 18.2% in the 3rd quarter. Arkadios Wealth Advisors now owns 33,020 shares of the electronics maker’s stock worth $75,000 after purchasing an additional 5,075 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Plug Power by 0.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 803,881 shares of the electronics maker’s stock worth $1,817,000 after buying an additional 5,485 shares during the last quarter. Compagnie Lombard Odier SCmA increased its position in Plug Power by 12.8% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 49,000 shares of the electronics maker’s stock valued at $104,000 after buying an additional 5,550 shares in the last quarter. Finally, Catalyst Capital Advisors LLC raised its stake in Plug Power by 79.9% during the third quarter. Catalyst Capital Advisors LLC now owns 12,681 shares of the electronics maker’s stock valued at $29,000 after buying an additional 5,631 shares during the last quarter. 43.48% of the stock is currently owned by institutional investors.

Plug Power Stock Down 5.1 %

PLUG stock opened at $1.85 on Thursday. Plug Power has a 1-year low of $1.60 and a 1-year high of $4.90. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of -0.86 and a beta of 1.79. 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’s 50 day moving average is $2.35 and its 200 day moving average is $2.18.

Plug Power (NASDAQ:PLUG) last posted 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). Plug Power had a negative net margin of 214.05% and a negative return on equity of 46.99%. The company had revenue of $173.70 million for the quarter, compared to analysts’ expectations of $207.25 million. During the same quarter last year, the business posted ($0.47) EPS. The business’s quarterly revenue was down 12.6% compared to the same quarter last year. Sell-side analysts predict that Plug Power will post -1.21 EPS for the current fiscal 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.