Plug Power Inc. (NASDAQ:PLUG) Receives $5.49 Average Target Price from Analysts

Plug Power Inc. (NASDAQ:PLUG) has been given a consensus recommendation of “Hold” by the twenty-seven brokerages that are presently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $5.49.

PLUG has been the subject of several recent research reports. Evercore ISI lowered their price objective on Plug Power from $9.00 to $6.00 and set an “outperform” rating for the company in a research report on Monday, March 4th. B. Riley upgraded Plug Power to a “strong-buy” rating in a report on Tuesday, June 25th. Citigroup lowered shares of Plug Power from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $3.25 to $2.00 in a report on Friday, April 5th. Morgan Stanley reduced their price objective on Plug Power from $3.00 to $2.50 and set an “underweight” rating for the company in a report on Friday, May 10th. Finally, Susquehanna decreased their target price on Plug Power from $3.50 to $3.00 and set a “neutral” rating for the company in a research report on Friday, May 10th.

Plug Power Stock Performance

NASDAQ:PLUG opened at $2.33 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 1.94 and a debt-to-equity ratio of 0.17. Plug Power has a twelve month low of $2.25 and a twelve month high of $13.44. The stock has a market cap of $1.73 billion, a P/E ratio of -0.97 and a beta of 1.77. The firm’s fifty day simple moving average is $2.83 and its 200 day simple moving average is $3.40.

Plug Power (NASDAQ:PLUG) last issued its quarterly earnings data on Thursday, May 9th. The electronics maker reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.11). Plug Power had a negative return on equity of 43.10% and a negative net margin of 181.96%. The company had revenue of $120.26 million during the quarter, compared to analysts’ expectations of $162.92 million. As a group, research analysts predict that Plug Power will post -1.13 EPS for the current year.

Insider Buying and Selling

In other Plug Power news, Director George C. Mcnamee sold 10,000 shares of Plug Power stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $2.56, for a total transaction of $25,600.00. Following the transaction, the director now owns 639,572 shares of the company’s stock, valued at $1,637,304.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Plug Power

A number of hedge funds have recently made changes to their positions in the business. FAS Wealth Partners Inc. bought a new stake in Plug Power during the 4th quarter valued at approximately $45,000. Independent Advisor Alliance bought a new stake in shares of Plug Power during the fourth quarter valued at approximately $45,000. Mosley Wealth Management purchased a new position in shares of Plug Power in the first quarter worth $35,000. J.W. Cole Advisors Inc. bought a new position in shares of Plug Power during the first quarter worth $36,000. Finally, HighPoint Advisor Group LLC purchased a new position in Plug Power during the fourth quarter valued at $48,000. Institutional investors own 43.48% of the company’s stock.

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.