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

Key Points

• Plug Power, Inc. has received a consensus rating of "Reduce" from 16 analysts, with 5 sell ratings and 4 buy ratings, indicating a cautionary stance on the stock's performance.
• The company's latest earnings report revealed an EPS of ($0.16), slightly missing analyst expectations, despite generating revenues of $173.97 million for the quarter.
• Recent changes in institutional ownership show 43.48% of Plug Power's stock is now owned by institutional investors, suggesting increased interest from larger entities.

Plug Power, Inc. (NASDAQ:PLUG - Get Free Report) has been assigned a consensus rating of "Reduce" from the sixteen analysts that are covering the stock, Marketbeat reports. Five analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $1.8808.

A number of research analysts recently weighed in on PLUG shares. Evercore ISI raised shares of Plug Power to a "strong sell" rating in a research report on Tuesday, July 15th. BMO Capital Markets cut their price target on Plug Power from $1.10 to $1.00 and set an "underperform" rating on the stock in a research note on Tuesday, August 12th. Wells Fargo & Company lifted their price target on Plug Power from $1.00 to $1.50 and gave the stock an "equal weight" rating in a research report on Thursday, August 14th. Susquehanna upped their price target on shares of Plug Power from $1.00 to $1.80 and gave the company a "neutral" rating in a report on Monday, July 21st. Finally, Jefferies Financial Group lifted their price target on shares of Plug Power from $0.90 to $1.60 and gave the stock a "hold" rating in a research note on Wednesday, July 23rd.

Plug Power Stock Performance

NASDAQ:PLUG traded up $0.08 during mid-day trading on Friday, reaching $2.18. 158,130,808 shares of the stock were exchanged, compared to its average volume of 51,354,224. The company has a quick ratio of 0.82, a current ratio of 1.59 and a debt-to-equity ratio of 0.22. Plug Power has a 1 year low of $0.69 and a 1 year high of $3.32. The stock has a market capitalization of $2.52 billion, a P/E ratio of -0.94 and a beta of 2.09. The company has a 50 day simple moving average of $1.62 and a 200-day simple moving average of $1.32.

Plug Power (NASDAQ:PLUG - Get Free Report) last issued its 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). The firm had revenue of $173.97 million during the quarter, compared to analysts' expectations of $157.97 million. Plug Power had a negative return on equity of 90.22% and a negative net margin of 292.84%. Analysts anticipate that Plug Power will post -1.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Plug Power

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Plug Power by 4.5% during the 1st quarter. Vanguard Group Inc. now owns 91,368,845 shares of the electronics maker's stock valued at $123,348,000 after purchasing an additional 3,930,342 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Plug Power by 14.9% in the 2nd quarter. Geode Capital Management LLC now owns 24,071,904 shares of the electronics maker's stock valued at $35,872,000 after purchasing an additional 3,125,542 shares in the last quarter. Heights Capital Management Inc. purchased a new stake in shares of Plug Power during the first quarter worth $31,174,000. Legal & General Group Plc lifted its position in Plug Power by 59.9% in the second quarter. Legal & General Group Plc now owns 16,980,865 shares of the electronics maker's stock valued at $25,301,000 after purchasing an additional 6,364,483 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Plug Power by 45.8% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,027,081 shares of the electronics maker's stock valued at $11,743,000 after acquiring an additional 2,521,348 shares in the last quarter. Institutional investors own 43.48% of the company's stock.

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.