Plug Power, Inc. (NASDAQ:PLUG) Given Average Rating of "Hold" by Analysts

Key Points

• Plug Power has a consensus “Hold” rating from 17 analysts: seven holds, five buys, two strong buys and three sells. The average 12-month price target is $3.59, above the reported share price of $2.11.
• Recent analyst actions were mixed, with Weiss Ratings and Wall Street Zen downgrading the stock to “Sell,” while HC Wainwright maintained a “Buy” rating with a $7.00 target; TD Cowen and Canaccord Genuity kept “Hold” ratings while raising their targets.
• Plug Power’s latest quarterly results modestly exceeded expectations, reporting an adjusted loss of $0.07 per share and revenue of $178.3 million, up 2.5% year over year. Despite the revenue beat, the company reported a deeply negative net margin of 220.59% and negative return on equity of 56.01%.

Plug Power, Inc. (NASDAQ:PLUG - Get Free Report) has earned a consensus recommendation of "Hold" from the seventeen analysts that are presently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation, five have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $3.5875.

A number of equities research analysts have recently commented on the company. Weiss Ratings cut Plug Power from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday, July 28th. TD Cowen lifted their price target on Plug Power from $2.00 to $3.00 and gave the stock a "hold" rating in a research report on Tuesday, May 12th. Wall Street Zen cut shares of Plug Power from a "hold" rating to a "sell" rating in a research note on Sunday, July 12th. Canaccord Genuity Group increased their price objective on shares of Plug Power from $2.50 to $4.00 and gave the company a "hold" rating in a research report on Tuesday, May 12th. Finally, HC Wainwright reissued a "buy" rating and set a $7.00 price objective on shares of Plug Power in a research report on Tuesday, August 11th.

Institutional Trading of Plug Power

Institutional investors have recently added to or reduced their stakes in the business. Ameritas Advisory Services LLC bought a new stake in shares of Plug Power in the 2nd quarter worth $25,000. Greenleaf Trust bought a new position in shares of Plug Power during the second quarter valued at $29,000. Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its holdings in shares of Plug Power by 116.7% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 13,000 shares of the electronics maker's stock valued at $26,000 after purchasing an additional 7,000 shares in the last quarter. Kestra Private Wealth Services LLC purchased a new stake in shares of Plug Power during the third quarter valued at $32,000. Finally, DUTCH ASSET Corp purchased a new stake in shares of Plug Power during the fourth quarter valued at $29,000. 43.48% of the stock is currently owned by hedge funds and other institutional investors.

Plug Power Trading Up 1.0%

Shares of NASDAQ PLUG opened at $2.11 on Friday. Plug Power has a 1 year low of $1.41 and a 1 year high of $4.58. The stock has a market cap of $2.95 billion, a P/E ratio of -1.67 and a beta of 2.21. The firm has a 50-day moving average of $2.25 and a 200 day moving average of $2.60. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.32 and a quick ratio of 1.32.

Plug Power (NASDAQ:PLUG - Get Free Report) last posted its quarterly earnings data on Monday, August 10th. The electronics maker reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.01. Plug Power had a negative net margin of 220.59% and a negative return on equity of 56.01%. The business had revenue of $178.30 million for the quarter, compared to analyst estimates of $169.11 million. The company's revenue was up 2.5% compared to the same quarter last year. As a group, sell-side analysts expect that Plug Power will post -0.26 EPS 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.

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