Plug Power, Inc. (NASDAQ:PLUG) Receives Average Rating of “Hold” from Brokerages

Shares of Plug Power, Inc. (NASDAQ:PLUG) have been given an average rating of “Hold” by the nineteen brokerages that are presently covering the firm, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $2.5423.

A number of research analysts have recently commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Plug Power in a report on Wednesday, October 8th. Hsbc Global Res upgraded shares of Plug Power to a “strong-buy” rating in a research note on Thursday, October 9th. HSBC set a $4.40 price target on shares of Plug Power in a report on Thursday, October 9th. Wells Fargo & Company boosted their price objective on shares of Plug Power from $1.00 to $1.50 and gave the stock an “equal weight” rating in a report on Thursday, August 14th. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $1.50 target price on shares of Plug Power in a research note on Thursday, October 16th.

Insider Buying and Selling

In other Plug Power news, EVP Benjamin Haycraft sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $2.92, for a total value of $29,200.00. Following the completion of the sale, the executive vice president owned 467,583 shares in the company, valued at approximately $1,365,342.36. This trade represents a 2.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.41% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PLUG. Kovack Advisors Inc. acquired a new stake in Plug Power during the third quarter worth $26,000. Yousif Capital Management LLC bought a new position in shares of Plug Power during the 3rd quarter worth about $27,000. Prakash Investment Advisors LLC acquired a new stake in shares of Plug Power during the 3rd quarter valued at about $27,000. Prime Capital Investment Advisors LLC bought a new stake in Plug Power in the third quarter valued at about $30,000. Finally, Oak Thistle LLC acquired a new position in Plug Power in the third quarter worth about $30,000. 43.48% of the stock is currently owned by institutional investors and hedge funds.

Plug Power Stock Performance

Shares of PLUG opened at $2.74 on Friday. The company has a market capitalization of $3.16 billion, a PE ratio of -1.19 and a beta of 2.28. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.59 and a quick ratio of 0.82. Plug Power has a one year low of $0.69 and a one year high of $4.58. The company’s fifty day moving average price is $2.68 and its 200 day moving average price is $1.77.

Plug Power (NASDAQ:PLUG) last issued its quarterly earnings results on Monday, November 10th. The electronics maker reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.01. Plug Power had a negative return on equity of 90.22% and a negative net margin of 292.84%.The company had revenue of $177.06 million for the quarter, compared to the consensus estimate of $185.41 million. Plug Power has set its FY 2025 guidance at EPS. As a group, analysts expect that Plug Power will post -1.21 earnings per share for the current year.

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.