Plug Power Inc. (NASDAQ:PLUG) Receives Average Rating of "Hold" from Brokerages

Shares of Plug Power Inc. (NASDAQ:PLUG - Get Free Report) have earned a consensus rating of "Hold" from the seventeen brokerages that are currently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $1.83.

PLUG has been the topic of a number of recent analyst reports. Jefferies Financial Group dropped their price objective on Plug Power from $1.70 to $0.90 and set a "hold" rating on the stock in a research note on Tuesday, May 20th. BMO Capital Markets cut their target price on Plug Power from $1.60 to $1.40 and set an "underperform" rating on the stock in a report on Wednesday, March 5th. Wall Street Zen upgraded shares of Plug Power to a "sell" rating in a research note on Tuesday, May 13th. Roth Capital reaffirmed a "buy" rating on shares of Plug Power in a research note on Tuesday, May 13th. Finally, UBS Group reduced their price objective on shares of Plug Power from $2.50 to $1.75 and set a "neutral" rating for the company in a report on Friday, March 21st.

Plug Power Trading Up 7.8%

Shares of PLUG traded up $0.10 on Wednesday, reaching $1.38. 136,024,360 shares of the company's stock were exchanged, compared to its average volume of 66,809,583. The business has a 50 day moving average price of $0.92 and a two-hundred day moving average price of $1.64. Plug Power has a 12 month low of $0.69 and a 12 month high of $3.34. The stock has a market capitalization of $1.49 billion, a P/E ratio of -0.64 and a beta of 2.17. The company has a current ratio of 2.08, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15.

Plug Power (NASDAQ:PLUG - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The electronics maker reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.01). The business had revenue of $133.67 million for the quarter, compared to the consensus estimate of $130.92 million. Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. Research analysts anticipate that Plug Power will post -1.21 earnings per share for the current year.

Insider Activity

In other news, CFO Paul B. Middleton bought 350,000 shares of the stock in a transaction dated Friday, May 16th. The stock was bought at an average cost of $0.72 per share, with a total value of $252,000.00. Following the purchase, the chief financial officer now owns 1,908,064 shares of the company's stock, valued at approximately $1,373,806.08. This represents a 22.46% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.70% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Plug Power during the fourth quarter worth $146,465,000. Heights Capital Management Inc. bought a new position in shares of Plug Power during the first quarter worth approximately $31,174,000. Point72 Asset Management L.P. bought a new position in shares of Plug Power during the fourth quarter worth approximately $10,370,000. Vanguard Group Inc. raised its position in shares of Plug Power by 5.4% in the fourth quarter. Vanguard Group Inc. now owns 87,438,503 shares of the electronics maker's stock valued at $186,244,000 after buying an additional 4,491,114 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Plug Power in the fourth quarter valued at approximately $6,235,000. Institutional investors and hedge funds 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.