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

Key Points

• Plug Power has a consensus “Hold” rating from 14 analysts: seven holds, three sells, two buys and two strong buys. The average 12-month price target is $3.305.
• Shares opened at $2.18, below their 50-day and 200-day moving averages, with a 52-week range of $1.41 to $4.58. Recent analyst actions were mixed, including a price-target cut from Susquehanna and a downgrade to “Sell” from Wall Street Zen.
• Plug Power’s latest quarterly results beat expectations, with an $0.08 per-share loss versus the estimated $0.09 loss and revenue of $163.51 million. Despite 22.3% year-over-year revenue growth, the company reported a negative 227.13% net margin and analysts expect a full-year loss.

Plug Power, Inc. (NASDAQ:PLUG - Get Free Report) has been assigned a consensus recommendation of "Hold" from the fourteen ratings firms that are currently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $3.3050.

PLUG has been the topic of several analyst reports. Susquehanna reduced their price objective on Plug Power from $3.75 to $2.50 and set a "neutral" rating on the stock in a research note on Friday, July 10th. TD Cowen lifted their target price on Plug Power from $2.00 to $3.00 and gave the stock a "hold" rating in a report on Tuesday, May 12th. Wells Fargo & Company boosted their target price on Plug Power from $2.00 to $2.50 and gave the company an "equal weight" rating in a research report on Tuesday, May 19th. Wall Street Zen lowered Plug Power from a "hold" rating to a "sell" rating in a report on Sunday, July 12th. Finally, Weiss Ratings downgraded Plug Power from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, July 28th.

Plug Power Stock Performance

Shares of NASDAQ:PLUG opened at $2.18 on Monday. The firm has a fifty day simple moving average of $2.56 and a two-hundred day simple moving average of $2.60. Plug Power has a 52 week low of $1.41 and a 52 week high of $4.58. The company has a quick ratio of 1.40, a current ratio of 2.36 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $3.04 billion, a P/E ratio of -1.65 and a beta of 2.20.

Plug Power (NASDAQ:PLUG - Get Free Report) last announced its earnings results on Monday, May 11th. The electronics maker reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.01. The firm had revenue of $163.51 million for the quarter, compared to analysts' expectations of $139.87 million. Plug Power had a negative net margin of 227.13% and a negative return on equity of 49.30%. The business's revenue was up 22.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.21) EPS. On average, analysts expect that Plug Power will post -0.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Plug Power

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its stake 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 worth $26,000 after purchasing an additional 7,000 shares during the period. Kestra Private Wealth Services LLC purchased a new stake in Plug Power in the 3rd quarter worth about $32,000. DUTCH ASSET Corp bought a new stake in Plug Power in the fourth quarter worth about $29,000. Independent Advisor Alliance purchased a new position in shares of Plug Power during the fourth quarter valued at approximately $30,000. Finally, International Assets Investment Management LLC boosted its position in shares of Plug Power by 53.6% during the fourth quarter. International Assets Investment Management LLC now owns 15,773 shares of the electronics maker's stock valued at $31,000 after buying an additional 5,503 shares during the period. Hedge funds and other institutional investors own 43.48% of the company's stock.

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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