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

Key Points

• Plug Power has a consensus analyst rating of "Hold" from 14 covering firms, with the average 12-month price target at about $3.31.
• Recent analyst actions were mixed: B. Riley boosted its target to $5.00 and kept a buy rating, while Susquehanna cut its target to $2.50 and maintained a neutral stance.
• The company recently beat quarterly estimates, reporting -$0.08 EPS versus expectations for -$0.09 and revenue of $163.5 million, up 22.3% year over year.

Plug Power, Inc. (NASDAQ:PLUG - Get Free Report) has been given a consensus rating of "Hold" by the fourteen research firms that are currently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation, two have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $3.3050.

A number of research firms recently weighed in on PLUG. B. Riley Financial lifted their target price on Plug Power from $3.00 to $5.00 and gave the stock a "buy" rating in a research report on Tuesday, May 12th. Weiss Ratings raised Plug Power from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, July 10th. Wells Fargo & Company upped their price target on Plug Power from $2.00 to $2.50 and gave the company an "equal weight" rating in a report on Tuesday, May 19th. BMO Capital Markets raised their price objective on Plug Power from $1.00 to $1.20 and gave the stock an "underperform" rating in a research report on Tuesday, May 12th. Finally, Susquehanna decreased their price objective on Plug Power from $3.75 to $2.50 and set a "neutral" rating on the stock in a report on Friday, July 10th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PLUG. Towarzystwo Funduszy Inwestycyjnych PZU SA raised its stake in shares of Plug Power by 116.7% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 13,000 shares of the electronics maker's stock valued at $26,000 after buying an additional 7,000 shares in the last quarter. Sender Co & Partners Inc. acquired a new stake in shares of Plug Power during the 2nd quarter valued at about $26,000. Procyon Advisors LLC acquired a new stake in shares of Plug Power during the 4th quarter valued at about $29,000. DUTCH ASSET Corp bought a new stake in Plug Power in the fourth quarter valued at about $29,000. Finally, Independent Advisor Alliance bought a new stake in Plug Power in the fourth quarter valued at about $30,000. 43.48% of the stock is owned by institutional investors.

Plug Power Price Performance

Shares of Plug Power stock opened at $2.21 on Thursday. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.36 and a quick ratio of 1.40. Plug Power has a fifty-two week low of $1.39 and a fifty-two week high of $4.58. The firm has a fifty day moving average price of $3.09 and a two-hundred day moving average price of $2.61. The company has a market cap of $3.08 billion, a PE ratio of -1.67 and a beta of 2.16.

Plug Power (NASDAQ:PLUG - Get Free Report) last posted its quarterly earnings results on Monday, May 11th. The electronics maker reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.01. Plug Power had a negative net margin of 227.13% and a negative return on equity of 49.30%. The company had revenue of $163.51 million for the quarter, compared to analyst estimates of $139.87 million. During the same period last year, the business posted ($0.21) EPS. The business's quarterly revenue was up 22.3% on a year-over-year basis. Analysts expect that Plug Power will post -0.25 EPS for the current 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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