Plug Power Inc. (NASDAQ:PLUG) Receives $2.29 Consensus PT from Brokerages

Shares of Plug Power Inc. (NASDAQ:PLUG - Get Free Report) have been assigned an average recommendation of "Hold" from the seventeen ratings firms that are currently covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $2.29.

PLUG has been the subject of a number of analyst reports. Truist Financial reduced their price target on Plug Power from $2.00 to $1.50 and set a "hold" rating for the company in a research report on Wednesday, March 5th. BMO Capital Markets decreased their target price on Plug Power from $1.60 to $1.40 and set an "underperform" rating for the company in a research report on Wednesday, March 5th. Piper Sandler reduced their price objective on shares of Plug Power from $1.40 to $1.10 and set an "underweight" rating for the company in a research note on Wednesday, March 5th. UBS Group decreased their price objective on shares of Plug Power from $2.50 to $1.75 and set a "neutral" rating for the company in a report on Friday, March 21st. Finally, Susquehanna dropped their target price on shares of Plug Power from $1.80 to $1.25 and set a "neutral" rating on the stock in a report on Monday, April 14th.

Institutional Trading of Plug Power

Several institutional investors have recently bought and sold shares of PLUG. Oppenheimer & Co. Inc. bought a new position in shares of Plug Power during the fourth quarter valued at $25,000. Pacific Sage Partners LLC acquired a new position in Plug Power in the fourth quarter valued at about $25,000. Jones Financial Companies Lllp boosted its position in Plug Power by 107.4% in the fourth quarter. Jones Financial Companies Lllp now owns 11,730 shares of the electronics maker's stock valued at $25,000 after buying an additional 6,074 shares in the last quarter. Callan Family Office LLC bought a new stake in Plug Power during the fourth quarter worth about $27,000. Finally, Ground Swell Capital LLC acquired a new stake in shares of Plug Power during the fourth quarter worth approximately $27,000. Institutional investors and hedge funds own 43.48% of the company's stock.

Plug Power Stock Down 9.0 %

PLUG stock traded down $0.09 during trading hours on Tuesday, hitting $0.87. The company's stock had a trading volume of 162,195,567 shares, compared to its average volume of 53,994,475. The company has a market capitalization of $807.31 million, a PE ratio of -0.41 and a beta of 2.07. Plug Power has a 12 month low of $0.76 and a 12 month high of $4.90. The stock has a 50 day moving average price of $1.33 and a two-hundred day moving average price of $1.89. The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15.

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.