Plug Power Inc (NASDAQ:PLUG) Given Consensus Recommendation of “Buy” by Brokerages

Plug Power Inc (NASDAQ:PLUG) has received an average recommendation of “Buy” from the nine analysts that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $2.80.

Several brokerages have issued reports on PLUG. Zacks Investment Research raised Plug Power from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. HC Wainwright reaffirmed a “buy” rating and set a $4.00 target price on shares of Plug Power in a research report on Wednesday, August 7th. Finally, BidaskClub cut Plug Power from a “hold” rating to a “sell” rating in a research report on Saturday, August 10th.

Several institutional investors have recently bought and sold shares of PLUG. Mercer Global Advisors Inc. ADV acquired a new stake in Plug Power during the 1st quarter worth about $25,000. Private Advisor Group LLC lifted its position in Plug Power by 55.1% during the 2nd quarter. Private Advisor Group LLC now owns 15,850 shares of the electronics maker’s stock worth $36,000 after acquiring an additional 5,633 shares during the period. FormulaFolio Investments LLC lifted its position in Plug Power by 52.8% during the 1st quarter. FormulaFolio Investments LLC now owns 16,200 shares of the electronics maker’s stock worth $39,000 after acquiring an additional 5,600 shares during the period. SG Americas Securities LLC acquired a new stake in Plug Power during the 1st quarter worth about $55,000. Finally, Fosun International Ltd acquired a new stake in Plug Power during the 2nd quarter worth about $53,000. 33.11% of the stock is owned by hedge funds and other institutional investors.

NASDAQ PLUG traded up $0.08 during midday trading on Friday, hitting $2.09. 2,448,900 shares of the company traded hands, compared to its average volume of 2,877,768. The company has a debt-to-equity ratio of 66.88, a current ratio of 1.49 and a quick ratio of 1.14. The company has a market cap of $506.45 million, a PE ratio of -5.81 and a beta of 1.47. The company’s 50-day simple moving average is $2.22 and its 200-day simple moving average is $2.24. Plug Power has a 52 week low of $0.99 and a 52 week high of $2.87.

Plug Power (NASDAQ:PLUG) last announced its earnings results on Tuesday, August 6th. The electronics maker reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.02. The business had revenue of $57.07 million for the quarter, compared to analysts’ expectations of $52.47 million. Plug Power had a negative return on equity of 6,435.09% and a negative net margin of 44.51%. The business’s revenue for the quarter was up 62.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.08) EPS. On average, research analysts predict that Plug Power will post -0.36 earnings per share for the current year.

Plug Power Company Profile

Plug Power Inc, an alternative energy technology provider, engages in the design, development, manufacture, and commercialization of hydrogen and fuel cell systems for the material handling and stationary power markets primarily in North America and Europe. It focuses on proton exchange membrane (PEM) fuel cell and fuel processing technologies, fuel cell/battery hybrid technologies, and related hydrogen storage and dispensing infrastructure.

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Analyst Recommendations for Plug Power (NASDAQ:PLUG)

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