Plug Power, Inc. (NASDAQ:PLUG) Receives Average Recommendation of "Reduce" from Analysts

Key Points

• Plug Power, Inc. (NASDAQ:PLUG) has received a consensus rating of "Reduce" from sixteen research firms, with five analysts suggesting a sell rating and four a buy rating.
• The average 12-month target price among analysts for Plug Power is $1.8808, despite varying opinions on the stock's performance.
• Insider transactions have been noted, including Paul B. Middleton purchasing 650,000 shares at $1.03 per share, increasing their ownership by 34.07%.

Plug Power, Inc. (NASDAQ:PLUG - Get Free Report) has been given a consensus rating of "Reduce" by the sixteen research firms that are covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $1.8808.

A number of equities analysts recently commented on the stock. BMO Capital Markets lowered their price target on shares of Plug Power from $1.10 to $1.00 and set an "underperform" rating on the stock in a research report on Tuesday, August 12th. Evercore ISI raised shares of Plug Power to a "strong sell" rating in a research report on Tuesday, July 15th. Susquehanna raised their price target on shares of Plug Power from $1.00 to $1.80 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Jefferies Financial Group raised their price target on shares of Plug Power from $0.90 to $1.60 and gave the stock a "hold" rating in a research report on Wednesday, July 23rd. Finally, Canaccord Genuity Group lowered their price target on shares of Plug Power from $1.25 to $1.00 and set a "hold" rating on the stock in a research report on Tuesday, May 13th.

Insider Transactions at Plug Power

In other news, insider Paul B. Middleton bought 650,000 shares of the firm's stock in a transaction on Monday, June 9th. The shares were purchased at an average cost of $1.03 per share, with a total value of $669,500.00. Following the acquisition, the insider directly owned 2,558,064 shares in the company, valued at $2,634,805.92. This represents a 34.07% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.41% of the stock is owned by insiders.

Hedge Funds Weigh In On Plug Power

Hedge funds have recently bought and sold shares of the company. Miracle Mile Advisors LLC bought a new position in Plug Power in the 1st quarter valued at about $26,000. Sender Co & Partners Inc. bought a new position in Plug Power in the 2nd quarter valued at about $26,000. Ground Swell Capital LLC bought a new position in Plug Power in the 4th quarter valued at about $27,000. Baader Bank Aktiengesellschaft bought a new position in Plug Power in the 1st quarter valued at about $28,000. Finally, O ROURKE & COMPANY Inc bought a new position in Plug Power in the 2nd quarter valued at about $30,000. 43.48% of the stock is owned by institutional investors.

Plug Power Price Performance

Shares of PLUG opened at $1.68 on Monday. The firm has a market capitalization of $1.94 billion, a PE ratio of -0.73 and a beta of 2.35. The company's 50-day moving average is $1.50 and its 200-day moving average is $1.33. Plug Power has a fifty-two week low of $0.69 and a fifty-two week high of $3.32. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.59 and a quick ratio of 0.82.

Plug Power (NASDAQ:PLUG - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $173.97 million during the quarter, compared to the consensus estimate of $157.97 million. Plug Power had a negative net margin of 292.84% and a negative return on equity of 90.22%. Equities analysts forecast 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.