Plug Power, Inc. (NASDAQ:PLUG) Receives $2.89 Consensus Price Target from Brokerages

Plug Power, Inc. (NASDAQ:PLUG) has received an average rating of “Hold” from the seventeen analysts that are currently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $2.8864.

A number of research firms have recently commented on PLUG. BTIG Research restated a “neutral” rating on shares of Plug Power in a report on Tuesday, March 3rd. TD Cowen lowered shares of Plug Power from a “buy” rating to a “hold” rating in a report on Friday, January 9th. Jefferies Financial Group lowered their price objective on shares of Plug Power from $2.00 to $1.80 and set a “hold” rating for the company in a research report on Monday, March 9th. BMO Capital Markets reaffirmed an “underperform” rating and set a $1.00 target price on shares of Plug Power in a research report on Tuesday, March 3rd. Finally, Clear Str raised shares of Plug Power from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 31st.

Plug Power Price Performance

Shares of PLUG stock opened at $2.15 on Friday. The stock has a 50 day moving average price of $2.14 and a 200 day moving average price of $2.30. Plug Power has a 52-week low of $0.69 and a 52-week high of $4.58. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.46 and a current ratio of 2.31. The firm has a market capitalization of $3.00 billion, a P/E ratio of -1.59 and a beta of 1.92.

Plug Power (NASDAQ:PLUG) last announced its quarterly earnings data on Monday, March 2nd. The electronics maker reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.04. Plug Power had a negative return on equity of 45.97% and a negative net margin of 229.83%.The company had revenue of $225.22 million for the quarter, compared to the consensus estimate of $217.38 million. During the same quarter in the prior year, the company posted ($1.48) EPS. As a group, sell-side analysts predict that Plug Power will post -1.21 earnings per share for the current year.

More Plug Power News

Here are the key news stories impacting Plug Power this week:

• Neutral Sentiment: Analysts keep a cautious stance: the street consensus is a “Hold”, signaling limited near?term conviction even before recent news. Plug Power, Inc. (NASDAQ:PLUG) Given Consensus Rating of “Hold” by Analysts
• Neutral Sentiment: Retail and attention metrics show heightened interest (Zacks/coverage notes), which can increase volatility but is not a directional catalyst by itself. Plug Power, Inc. (PLUG) is Attracting Investor Attention: Here is What You Should Know
• Negative Sentiment: Plug Power has scrapped participation in the STAMP hydrogen hub, a move investors interpret as a setback for regional scale?up plans and expected project revenues/timelines — raising questions about execution and near?term growth. Plug Power Scraps STAMP Hydrogen Hub Raising New Questions For Investors
• Negative Sentiment: Multiple securities?class action filings and law?firm solicitations were announced this week, alleging potential disclosure issues tied to past statements; increased litigation risk can pressure the stock and distract management. $PLUG Stock Loss Alert: Plug Power Investors that Lost Money have Rights in Pending Securities Fraud Class Action – Contact BFA Law before April 3 Deadline
• Negative Sentiment: Jefferies cut its price target to $1.80 from $2 while keeping a Hold rating — a modest downgrade that signals lower analyst expectations and can reinforce selling pressure. Jefferies Cuts PT on Plug Power (PLUG) to $1.80 From $2
• Negative Sentiment: Media coverage of a broader intraday selloff highlights heavy volume and bearish positioning, which can amplify short?term downside. Byrna, Energy Recovery, Concrete Pumping, Alta, and Plug Power shares plummet, what you need to know

Insider Buying and Selling

In other Plug Power news, insider Benjamin Haycraft sold 40,000 shares of the firm’s stock in a transaction on Monday, January 12th. The stock was sold at an average price of $2.17, for a total transaction of $86,800.00. Following the transaction, the insider directly owned 333,809 shares in the company, valued at $724,365.53. This trade represents a 10.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.56% of the stock is owned by insiders.

Hedge Funds Weigh In On Plug Power

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Plug Power by 18.2% during the 4th quarter. Vanguard Group Inc. now owns 129,599,295 shares of the electronics maker’s stock valued at $255,311,000 after purchasing an additional 19,967,339 shares during the period. State Street Corp increased its position in shares of Plug Power by 29.9% during the fourth quarter. State Street Corp now owns 32,258,283 shares of the electronics maker’s stock worth $63,549,000 after purchasing an additional 7,416,943 shares in the last quarter. Geode Capital Management LLC increased its position in Plug Power by 12.4% during the 4th quarter. Geode Capital Management LLC now owns 31,268,670 shares of the electronics maker’s stock valued at $61,611,000 after buying an additional 3,456,323 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Plug Power by 4.2% during the third quarter. Legal & General Group Plc now owns 17,695,077 shares of the electronics maker’s stock worth $41,230,000 after acquiring an additional 714,212 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Plug Power during the fourth quarter valued at about $27,684,000. Institutional investors own 43.48% of the company’s stock.

Plug Power Company Profile

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.