Plug Power Inc. (NASDAQ:PLUG) Receives $6.05 Consensus PT from Brokerages

Plug Power Inc. (NASDAQ:PLUG - Get Free Report) has earned an average rating of "Hold" from the twenty-six brokerages that are presently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a sell recommendation, fifteen have given a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $6.05.

Several brokerages recently weighed in on PLUG. Royal Bank of Canada cut their target price on shares of Plug Power from $5.00 to $3.50 and set a "sector perform" rating for the company in a research note on Wednesday, January 24th. Citigroup downgraded shares of Plug Power from a "neutral" rating to a "sell" rating and reduced their price objective for the company from $3.25 to $2.00 in a research note on Friday, April 5th. B. Riley decreased their target price on shares of Plug Power from $18.00 to $8.00 and set a "buy" rating on the stock in a research report on Wednesday, January 24th. HSBC cut their price target on Plug Power from $9.00 to $8.50 and set a "buy" rating for the company in a report on Tuesday, March 5th. Finally, Redburn Atlantic began coverage on Plug Power in a report on Tuesday, February 6th. They set a "neutral" rating and a $4.50 price objective on the stock.

Plug Power Stock Performance

NASDAQ PLUG traded down $0.07 on Friday, hitting $2.89. 16,312,469 shares of the company's stock were exchanged, compared to its average volume of 42,141,668. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of -1.26 and a beta of 1.54. The firm's 50-day moving average price is $3.58 and its two-hundred day moving average price is $4.46. Plug Power has a fifty-two week low of $2.26 and a fifty-two week high of $13.44. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.85 and a quick ratio of 0.86.

Plug Power (NASDAQ:PLUG - Get Free Report) last issued its earnings results on Friday, March 1st. The electronics maker reported ($1.08) EPS for the quarter, missing the consensus estimate of ($0.56) by ($0.52). Plug Power had a negative return on equity of 38.09% and a negative net margin of 153.57%. The company had revenue of $222.20 million for the quarter, compared to analysts' expectations of $234.21 million. During the same quarter in the previous year, the firm posted ($0.38) earnings per share. Plug Power's revenue for the quarter was up .7% on a year-over-year basis. On average, research analysts expect that Plug Power will post -0.95 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Ballentine Partners LLC acquired a new position in Plug Power in the first quarter valued at about $79,000. Banque Cantonale Vaudoise boosted its holdings in shares of Plug Power by 25.7% in the 1st quarter. Banque Cantonale Vaudoise now owns 152,779 shares of the electronics maker's stock worth $526,000 after acquiring an additional 31,276 shares in the last quarter. HighPoint Advisor Group LLC bought a new stake in Plug Power during the 4th quarter worth approximately $48,000. Quadrature Capital Ltd acquired a new stake in Plug Power during the 4th quarter valued at $5,133,000. Finally, Vanguard Group Inc. raised its position in Plug Power by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 53,987,285 shares of the electronics maker's stock valued at $242,943,000 after purchasing an additional 283,376 shares during the last quarter. 43.48% of the stock is owned by institutional investors.

Plug Power Company Profile

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.