Plug Power Inc. (NASDAQ:PLUG) Receives $4.52 Consensus Price Target from Analysts

Shares of Plug Power Inc. (NASDAQ:PLUG) have been given an average recommendation of “Hold” by the twenty-three research firms that are covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $4.52.

Several equities research analysts recently commented on the company. Craig Hallum cut their target price on Plug Power from $4.00 to $3.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Jefferies Financial Group cut their price target on Plug Power from $2.20 to $2.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Canaccord Genuity Group lowered their price objective on shares of Plug Power from $2.50 to $2.25 and set a “hold” rating for the company in a research note on Wednesday, November 13th. Wells Fargo & Company cut their target price on shares of Plug Power from $3.00 to $2.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 14th. Finally, HC Wainwright restated a “buy” rating and issued a $18.00 price target on shares of Plug Power in a report on Wednesday, November 13th.

Plug Power Stock Down 0.4 %

Plug Power stock opened at $2.42 on Wednesday. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of -1.13 and a beta of 1.76. Plug Power has a 52-week low of $1.60 and a 52-week high of $5.14. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 2.08. The firm has a 50 day moving average price of $2.19 and a two-hundred day moving average price of $2.25.

Plug Power (NASDAQ:PLUG) last released its earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.01). The firm had revenue of $173.70 million during the quarter, compared to analyst estimates of $207.25 million. Plug Power had a negative net margin of 214.05% and a negative return on equity of 46.99%. Plug Power’s quarterly revenue was down 12.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.47) EPS. Equities analysts predict that Plug Power will post -1.2 EPS for the current year.

Institutional Investors Weigh In On Plug Power

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC grew its stake in shares of Plug Power by 23.6% in the 3rd quarter. Geode Capital Management LLC now owns 19,194,629 shares of the electronics maker’s stock worth $43,388,000 after acquiring an additional 3,662,456 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Plug Power by 25.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,637,039 shares of the electronics maker’s stock worth $15,000,000 after purchasing an additional 1,354,500 shares during the last quarter. Van ECK Associates Corp grew its position in Plug Power by 23.6% in the 3rd quarter. Van ECK Associates Corp now owns 4,232,001 shares of the electronics maker’s stock worth $8,803,000 after purchasing an additional 809,187 shares in the last quarter. Vontobel Holding Ltd. grew its stake in Plug Power by 44.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 3,426,354 shares of the electronics maker’s stock valued at $7,744,000 after purchasing an additional 1,051,400 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Plug Power by 69.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,530,346 shares of the electronics maker’s stock valued at $5,896,000 after purchasing an additional 1,036,777 shares during the last quarter. 43.48% of the stock is owned by hedge funds and other institutional investors.

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.