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

Plug Power Inc. (NASDAQ:PLUG) has received an average rating of “Hold” from the eighteen analysts that are covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $2.34.

A number of equities analysts have recently issued reports on the stock. Evercore ISI reduced their target price on shares of Plug Power from $5.00 to $4.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 13th. Wells Fargo & Company reduced their target price on shares of Plug Power from $3.00 to $2.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 14th. Piper Sandler reduced their target price on shares of Plug Power from $1.40 to $1.10 and set an “underweight” rating on the stock in a research report on Wednesday, March 5th. Truist Financial reduced their target price on shares of Plug Power from $2.00 to $1.50 and set a “hold” rating on the stock in a research report on Wednesday, March 5th. Finally, BTIG Research lowered shares of Plug Power from a “buy” rating to a “neutral” rating in a research report on Thursday, November 14th.

Institutional Investors Weigh In On Plug Power

Several large investors have recently bought and sold shares of the company. Pinnacle Wealth Planning Services Inc. bought a new stake in Plug Power in the fourth quarter valued at approximately $60,000. Toronto Dominion Bank bought a new stake in Plug Power in the fourth quarter valued at approximately $270,000. Retirement Planning Group LLC NY bought a new stake in Plug Power in the fourth quarter valued at approximately $38,000. GTS Securities LLC increased its stake in Plug Power by 150.0% in the fourth quarter. GTS Securities LLC now owns 18,750 shares of the electronics maker’s stock valued at $40,000 after purchasing an additional 56,255 shares in the last quarter. Finally, 49 Wealth Management LLC increased its stake in Plug Power by 25.0% in the fourth quarter. 49 Wealth Management LLC now owns 29,180 shares of the electronics maker’s stock valued at $62,000 after purchasing an additional 5,834 shares in the last quarter. Institutional investors own 43.48% of the company’s stock.

Plug Power Price Performance

NASDAQ:PLUG opened at $1.78 on Monday. The firm has a market cap of $1.65 billion, a PE ratio of -0.83 and a beta of 1.98. Plug Power has a 12 month low of $1.37 and a 12 month high of $4.90. The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15. The company’s 50-day moving average price is $2.05 and its two-hundred day moving average price is $2.09.

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.