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

Key Points

• Plug Power, Inc. has been assigned a consensus recommendation of "Hold" by nineteen brokerages, with ratings including six sell, seven hold, five buy, and one strong buy.
• The average 12-month price target for Plug Power is $2.4679, with HSBC setting a price objective of $4.40 and HC Wainwright boosting theirs to $7.00.
• In its latest earnings report, Plug Power missed consensus earnings expectations, posting a loss of ($0.16) per share against an expected loss of ($0.15), while achieving revenue of $173.97 million.

Plug Power, Inc. (NASDAQ:PLUG - Get Free Report) has been given a consensus recommendation of "Hold" by the nineteen brokerages that are currently covering the stock, Marketbeat reports. Six 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 12-month price target among analysts that have updated their coverage on the stock in the last year is $2.4679.

A number of equities analysts recently commented on PLUG shares. HSBC set a $4.40 price objective on shares of Plug Power in a research note on Thursday. HC Wainwright boosted their price objective on shares of Plug Power from $3.00 to $7.00 and gave the stock a "buy" rating in a research note on Friday, October 3rd. Weiss Ratings reissued a "sell (d-)" rating on shares of Plug Power in a research note on Wednesday, October 8th. 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 research note on Thursday, August 14th. Finally, Evercore ISI raised shares of Plug Power to a "strong sell" rating in a research note on Tuesday, July 15th.

Plug Power Stock Performance

Plug Power stock opened at $3.90 on Tuesday. The company has a 50 day moving average price of $2.08 and a 200-day moving average price of $1.48. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 1.59. Plug Power has a fifty-two week low of $0.69 and a fifty-two week high of $4.58. The company has a market capitalization of $4.50 billion, a PE ratio of -1.69 and a beta of 2.23.

Plug Power (NASDAQ:PLUG - Get Free Report) last posted its quarterly earnings results on Monday, August 11th. The electronics maker reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.01). Plug Power had a negative net margin of 292.84% and a negative return on equity of 90.22%. The company had revenue of $173.97 million for the quarter, compared to the consensus estimate of $157.97 million. As a group, equities analysts forecast that Plug Power will post -1.21 earnings per share for the current year.

Hedge Funds Weigh In On Plug Power

A number of large investors have recently bought and sold shares of PLUG. Sender Co & Partners Inc. acquired a new position in shares of Plug Power during the second quarter worth $26,000. Baader Bank Aktiengesellschaft acquired a new position in shares of Plug Power during the first quarter worth $28,000. O ROURKE & COMPANY Inc acquired a new position in shares of Plug Power during the second quarter worth $30,000. Abel Hall LLC acquired a new position in shares of Plug Power during the second quarter worth $30,000. Finally, Obermeyer Wealth Partners increased its position in shares of Plug Power by 100.0% during the second quarter. Obermeyer Wealth Partners now owns 20,000 shares of the electronics maker's stock worth $30,000 after purchasing an additional 10,000 shares in the last quarter. Institutional investors own 43.48% of the company's stock.

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.

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