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

Plug Power Inc. (NASDAQ:PLUG) has received a consensus recommendation of “Hold” from the twenty-six ratings firms that are presently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a sell recommendation, fifteen have issued a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $6.05.

A number of equities analysts have recently issued reports on the stock. Canaccord Genuity Group dropped their price objective on shares of Plug Power from $5.00 to $4.00 and set a “hold” rating on the stock in a research note on Monday, March 4th. Susquehanna dropped their price objective on shares of Plug Power from $4.50 to $3.50 and set a “neutral” rating on the stock in a research note on Wednesday, January 24th. Redburn Atlantic assumed coverage on shares of Plug Power in a research note on Tuesday, February 6th. They set a “neutral” rating and a $4.50 price objective on the stock. Seaport Res Ptn downgraded shares of Plug Power from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 6th. Finally, Roth Mkm raised shares of Plug Power from a “neutral” rating to a “buy” rating and increased their target price for the company from $4.50 to $9.00 in a research report on Wednesday, January 31st.

Plug Power Stock Down 0.7 %

Shares of NASDAQ:PLUG opened at $2.71 on Friday. Plug Power has a 12 month low of $2.26 and a 12 month high of $13.44. The firm’s 50-day moving average is $3.46 and its 200 day moving average is $4.32. The company has a current ratio of 1.85, a quick ratio of 0.86 and a debt-to-equity ratio of 0.18.

Plug Power (NASDAQ:PLUG) last issued its earnings results on Friday, March 1st. The electronics maker reported ($1.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.52). The company had revenue of $222.20 million during the quarter, compared to the consensus estimate of $234.21 million. Plug Power had a negative return on equity of 38.09% and a negative net margin of 153.57%. Plug Power’s revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.38) earnings per share. As a group, sell-side analysts expect that Plug Power will post -0.95 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PLUG. Millburn Ridgefield Corp acquired a new position in Plug Power during the third quarter valued at $29,000. Mosley Wealth Management acquired a new position in Plug Power during the first quarter valued at $35,000. ICA Group Wealth Management LLC acquired a new position in Plug Power during the fourth quarter valued at $35,000. Strategic Investment Solutions Inc. IL acquired a new position in Plug Power during the first quarter valued at $41,000. Finally, FAS Wealth Partners Inc. acquired a new position in Plug Power during the fourth quarter valued at $45,000. 43.48% of the stock is currently owned by institutional investors and hedge funds.

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.