Plug Power, Inc. (NASDAQ:PLUG) Receives $3.30 Consensus Price Target from Analysts

Plug Power, Inc. (NASDAQ:PLUG) has been given an average recommendation of “Hold” by the fourteen research firms that are presently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and two have given a strong buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $3.3050.

PLUG has been the subject of a number of recent research reports. Weiss Ratings upgraded Plug Power from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, July 10th. Wells Fargo & Company raised their price target on Plug Power from $2.00 to $2.50 and gave the company an “equal weight” rating in a report on Tuesday, May 19th. Morgan Stanley lifted their price objective on Plug Power from $1.50 to $1.65 and gave the stock an “underweight” rating in a research report on Thursday, July 9th. B. Riley Financial boosted their price objective on Plug Power from $3.00 to $5.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Finally, Wall Street Zen downgraded shares of Plug Power from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th.

Hedge Funds Weigh In On Plug Power

Large investors have recently bought and sold shares of the business. Towarzystwo Funduszy Inwestycyjnych PZU SA raised its position in shares of Plug Power by 116.7% during the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 13,000 shares of the electronics maker’s stock valued at $26,000 after acquiring an additional 7,000 shares during the last quarter. Kestra Private Wealth Services LLC bought a new position in shares of Plug Power in the 3rd quarter worth $32,000. Procyon Advisors LLC bought a new position in shares of Plug Power in the 4th quarter worth $29,000. DUTCH ASSET Corp acquired a new stake in shares of Plug Power during the fourth quarter worth $29,000. Finally, Independent Advisor Alliance bought a new stake in Plug Power in the fourth quarter valued at about $30,000. 43.48% of the stock is currently owned by institutional investors and hedge funds.

Plug Power Stock Performance

Shares of Plug Power stock opened at $2.13 on Thursday. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.36 and a quick ratio of 1.40. The firm has a market cap of $2.97 billion, a P/E ratio of -1.61 and a beta of 2.16. The firm has a 50 day simple moving average of $3.02 and a 200 day simple moving average of $2.62. Plug Power has a fifty-two week low of $1.39 and a fifty-two week high of $4.58.

Plug Power (NASDAQ:PLUG) last posted its quarterly earnings data on Monday, May 11th. The electronics maker reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.01. The firm had revenue of $163.51 million for the quarter, compared to the consensus estimate of $139.87 million. Plug Power had a negative return on equity of 49.30% and a negative net margin of 227.13%.The business’s revenue for the quarter was up 22.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.21) EPS. Sell-side analysts predict that Plug Power will post -0.25 earnings per share for the current fiscal year.

Plug Power Company Profile

Plug Power Inc is a U.S.-based company specializing in the design and manufacture of hydrogen fuel cell systems that serve as clean energy replacements for conventional batteries in electric vehicles and material handling equipment. Its core solutions include ProGen fuel cell engines, GenDrive power systems for forklifts and warehouse vehicles, and GenFuel hydrogen refueling infrastructure. These offerings are sold as standalone components or integrated turnkey solutions under the GenKey brand, providing customers with on-site refueling, equipment installation and maintenance services.

In addition to its fuel cell and refueling products, Plug Power develops backup power and off-grid energy solutions through its GenSure line, which targets telecommunications, data centers and utility applications.