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

Shares of Plug Power Inc. (NASDAQ:PLUG - Get Free Report) have been given an average rating of "Hold" by the seventeen analysts that are presently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $1.99.

A number of analysts have weighed in on PLUG shares. Morgan Stanley dropped their target price on shares of Plug Power from $1.75 to $1.60 and set an "underweight" rating on the stock in a report on Thursday, March 6th. Seaport Res Ptn cut shares of Plug Power from a "hold" rating to a "strong sell" rating in a research note on Monday, January 27th. UBS Group lowered their target price on shares of Plug Power from $2.50 to $1.75 and set a "neutral" rating on the stock in a research note on Friday, March 21st. Canaccord Genuity Group lowered their target price on shares of Plug Power from $1.25 to $1.00 and set a "hold" rating on the stock in a research note on Tuesday. Finally, StockNews.com raised shares of Plug Power to a "sell" rating in a research note on Tuesday.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PLUG. Norges Bank acquired a new position in shares of Plug Power in the fourth quarter worth about $146,465,000. Heights Capital Management Inc. acquired a new position in shares of Plug Power in the first quarter worth about $31,174,000. Point72 Asset Management L.P. acquired a new position in shares of Plug Power in the fourth quarter worth about $10,370,000. Vanguard Group Inc. boosted its holdings 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 worth $186,244,000 after buying an additional 4,491,114 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in shares of Plug Power in the fourth quarter worth about $6,235,000. 43.48% of the stock is currently owned by institutional investors and hedge funds.

Plug Power Stock Performance

Shares of PLUG stock opened at $0.77 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 2.08. Plug Power has a one year low of $0.69 and a one year high of $3.55. The company has a 50 day moving average price of $1.13 and a 200 day moving average price of $1.77. The firm has a market capitalization of $790.10 million, a price-to-earnings ratio of -0.36 and a beta of 2.19.

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.