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

Key Points

• Consensus "Hold": Sixteen brokerages assign Plug Power a consensus Hold rating (5 sell, 7 hold, 2 buy, 2 strong buy) with an average 1‑year price target of about $3.03.
• Plug Power's most recent quarter beat estimates—EPS ($0.06) vs. ($0.10) expected and revenue $225.2M vs. $217.4M—but the company remains unprofitable (net margin −229.8%, negative ROE) and analysts forecast roughly −$0.30 EPS for the year.
• Shares opened at $3.10, the company has a market cap of $4.31B, a 12‑month range of $0.69–$4.58, and about 43.5% of the stock is held by institutional investors.

Shares of Plug Power, Inc. (NASDAQ:PLUG - Get Free Report) have been assigned an average rating of "Hold" from the sixteen brokerages that are presently covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $3.0250.

PLUG has been the subject of several analyst reports. BTIG Research reiterated a "neutral" rating on shares of Plug Power in a research report on Tuesday, March 3rd. Jefferies Financial Group reduced their price objective on Plug Power from $2.00 to $1.80 and set a "hold" rating for the company in a research report on Monday, March 9th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Plug Power in a research report on Tuesday, April 21st. HC Wainwright reiterated a "buy" rating and set a $7.00 price objective on shares of Plug Power in a research report on Tuesday, March 3rd. Finally, Oppenheimer reiterated a "market perform" rating on shares of Plug Power in a research report on Tuesday, March 3rd.

Plug Power Stock Performance

Shares of NASDAQ PLUG opened at $3.10 on Friday. The company has a current ratio of 2.31, a quick ratio of 1.46 and a debt-to-equity ratio of 0.64. The stock has a 50 day simple moving average of $2.47 and a 200-day simple moving average of $2.39. The company has a market cap of $4.31 billion, a PE ratio of -2.29 and a beta of 1.79. Plug Power has a 12-month low of $0.69 and a 12-month high of $4.58.

Plug Power (NASDAQ:PLUG - Get Free Report) last issued its quarterly earnings data on Monday, March 2nd. The electronics maker reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.04. The business had revenue of $225.22 million during the quarter, compared to the consensus estimate of $217.38 million. Plug Power had a negative return on equity of 45.97% and a negative net margin of 229.83%.During the same period in the previous year, the firm posted ($1.48) earnings per share. On average, equities research analysts forecast that Plug Power will post -0.3 EPS for the current year.

Institutional Investors Weigh In On Plug Power

Institutional investors have recently added to or reduced their stakes in the company. Kovack Advisors Inc. acquired a new stake in Plug Power in the third quarter worth approximately $26,000. Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its position in Plug Power by 116.7% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 13,000 shares of the electronics maker's stock worth $26,000 after purchasing an additional 7,000 shares during the period. Sender Co & Partners Inc. acquired a new stake in Plug Power in the second quarter worth approximately $26,000. Yousif Capital Management LLC acquired a new stake in Plug Power in the third quarter worth approximately $27,000. Finally, Prakash Investment Advisors LLC acquired a new stake in Plug Power in the third quarter worth approximately $27,000. 43.48% of the stock is currently owned by institutional investors and hedge funds.

About Plug Power

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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