Plug Power Inc. (NASDAQ:PLUG) Receives $12.70 Average Target Price from Analysts

Shares of Plug Power Inc. (NASDAQ:PLUG) have earned an average recommendation of “Hold” from the twenty-one analysts that are currently covering the company, MarketBeat.com reports. Fifteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $9.83.

Several equities research analysts recently weighed in on PLUG shares. UBS Group reduced their target price on shares of Plug Power from $15.50 to $5.00 and set a “buy” rating for the company in a research note on Tuesday, November 14th. Jefferies Financial Group restated a “hold” rating and set a $6.00 price target on shares of Plug Power in a research note on Friday, November 10th. HSBC started coverage on shares of Plug Power in a research note on Monday, September 25th. They set a “buy” rating and a $11.00 price target for the company. Roth Mkm restated a “neutral” rating and set a $7.50 price target (down previously from $13.00) on shares of Plug Power in a research note on Thursday, August 10th. Finally, BMO Capital Markets cut their price target on shares of Plug Power from $8.00 to $3.75 and set a “market perform” rating for the company in a research note on Friday, November 10th.

Insider Activity at Plug Power

In related news, insider Jose Luis Crespo sold 31,958 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $7.20, for a total value of $230,097.60. Following the completion of the sale, the insider now owns 250,609 shares of the company’s stock, valued at $1,804,384.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.60% of the stock is currently owned by company insiders.

Institutional Trading of Plug Power

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. SCP Investment LP grew its holdings in Plug Power by 17.9% during the 2nd quarter. SCP Investment LP now owns 19,800 shares of the electronics maker’s stock worth $206,000 after acquiring an additional 3,000 shares during the period. Treasurer of the State of North Carolina grew its holdings in Plug Power by 0.6% during the 1st quarter. Treasurer of the State of North Carolina now owns 235,136 shares of the electronics maker’s stock worth $2,756,000 after acquiring an additional 1,430 shares during the period. Psagot Value Holdings Ltd. Israel acquired a new stake in Plug Power during the 1st quarter worth $175,000. FWL Investment Management LLC acquired a new stake in Plug Power during the 2nd quarter worth $605,000. Finally, Asset Management One Co. Ltd. grew its holdings in Plug Power by 12.6% during the 1st quarter. Asset Management One Co. Ltd. now owns 213,399 shares of the electronics maker’s stock worth $2,501,000 after acquiring an additional 23,800 shares during the period. Institutional investors and hedge funds own 49.99% of the company’s stock.

Plug Power Stock Down 3.3 %

NASDAQ PLUG opened at $3.87 on Tuesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.31 and a current ratio of 2.41. The firm has a 50-day simple moving average of $6.55 and a 200 day simple moving average of $8.60. Plug Power has a twelve month low of $3.22 and a twelve month high of $18.88. The stock has a market cap of $2.34 billion, a PE ratio of -2.42 and a beta of 1.98.

Plug Power (NASDAQ:PLUG) last released its earnings results on Thursday, November 9th. The electronics maker reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.15). Plug Power had a negative net margin of 106.74% and a negative return on equity of 24.18%. The company had revenue of $198.71 million during the quarter, compared to the consensus estimate of $219.57 million. During the same quarter in the previous year, the business posted ($0.30) EPS. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. On average, research analysts forecast that Plug Power will post -1.47 EPS for the current year.

Plug Power Company Profile

Plug Power Inc delivers end-to-end clean hydrogen and zero-emissions fuel cell solutions for supply chain and logistics applications, on-road electric vehicles, stationary power market, and others in North America and internationally. It engages in building an end-to-end green hydrogen ecosystem, including liquid green hydrogen production, storage and handling, transportation, and dispensing infrastructure.