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

Plug Power Inc. (NASDAQ:PLUG) has earned an average rating of “Hold” from the eighteen analysts that are currently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $2.31.

A number of equities research analysts have weighed in on the company. HC Wainwright reiterated a “buy” rating and issued a $3.00 price objective on shares of Plug Power in a research note on Monday, March 24th. UBS Group reduced their price target on shares of Plug Power from $2.50 to $1.75 and set a “neutral” rating for the company in a research report on Friday, March 21st. B. Riley lowered their price objective on shares of Plug Power from $4.00 to $3.00 and set a “buy” rating on the stock in a research report on Wednesday, March 5th. Morgan Stanley decreased their target price on shares of Plug Power from $1.75 to $1.60 and set an “underweight” rating for the company in a research note on Thursday, March 6th. Finally, BMO Capital Markets dropped their price target on Plug Power from $1.60 to $1.40 and set an “underperform” rating on the stock in a research report on Wednesday, March 5th.

Institutional Investors Weigh In On Plug Power

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Plug Power by 5.4% in the fourth quarter. Vanguard Group Inc. now owns 87,438,503 shares of the electronics maker’s stock valued at $186,244,000 after purchasing an additional 4,491,114 shares in the last quarter. Norges Bank acquired a new position in shares of Plug Power during the 4th quarter worth approximately $146,465,000. Geode Capital Management LLC lifted its stake in Plug Power by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 19,917,268 shares of the electronics maker’s stock valued at $42,434,000 after buying an additional 722,639 shares in the last quarter. Legal & General Group Plc grew its holdings in Plug Power by 8.5% during the 4th quarter. Legal & General Group Plc now owns 10,141,849 shares of the electronics maker’s stock valued at $21,602,000 after buying an additional 796,774 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Plug Power by 11.1% in the fourth quarter. Northern Trust Corp now owns 7,907,687 shares of the electronics maker’s stock worth $16,843,000 after acquiring an additional 790,650 shares during the last quarter. 43.48% of the stock is currently owned by hedge funds and other institutional investors.

Plug Power Stock Down 3.0 %

PLUG opened at $1.31 on Friday. Plug Power has a one year low of $1.26 and a one year high of $4.90. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 2.08. The stock has a market capitalization of $1.21 billion, a P/E ratio of -0.61 and a beta of 1.98. The business’s 50-day simple moving average is $1.70 and its 200-day simple moving average is $2.05.

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.