Plug Power, Inc. (NASDAQ:PLUG) Given Average Recommendation of “Hold” by Brokerages

Plug Power, Inc. (NASDAQ:PLUG) has received an average recommendation of “Hold” from the sixteen research firms that are covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation, two have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $3.0250.

PLUG has been the topic of a number of research analyst reports. BMO Capital Markets reaffirmed an “underperform” rating and set a $1.00 price target on shares of Plug Power in a research report on Tuesday, March 3rd. Susquehanna upped their price target on shares of Plug Power from $2.50 to $2.75 and gave the company a “neutral” rating in a research report on Thursday, April 9th. Wells Fargo & Company upped their price target on shares of Plug Power from $1.50 to $2.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 4th. Jefferies Financial Group cut their price target on shares of Plug Power from $2.00 to $1.80 and set a “hold” rating on the stock in a research report on Monday, March 9th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Plug Power in a research report on Tuesday, March 3rd.

Plug Power Stock Performance

NASDAQ PLUG opened at $3.12 on Friday. The company has a market capitalization of $4.35 billion, a price-to-earnings ratio of -2.31 and a beta of 2.06. Plug Power has a twelve month low of $0.69 and a twelve month high of $4.58. The stock has a fifty day simple moving average of $2.55 and a 200 day simple moving average of $2.36. The company has a quick ratio of 1.46, a current ratio of 2.31 and a debt-to-equity ratio of 0.64.

Plug Power (NASDAQ:PLUG) last posted its quarterly earnings data on Monday, March 2nd. The electronics maker reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates 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 prior year, the business posted ($1.48) earnings per share. Sell-side analysts expect that Plug Power will post -0.3 EPS for the current year.

Key Headlines Impacting Plug Power

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

• Positive Sentiment: Investors are encouraged by signs of operational improvement, including Plug Power’s first-ever positive gross profit and stronger expectations for revenue growth heading into the May 11 earnings release. How Plug Power’s First Positive Margin and Electrolyzer Deal Could Impact Plug Power (PLUG) Investors
• Positive Sentiment: A major 275 MW electrolyzer contract in Canada is boosting sentiment by strengthening Plug Power’s hydrogen project pipeline and reinforcing demand expectations. Plug Power (PLUG) Valuation Check As First Gross Profit And Major Canada Contract Lift Expectations
• Neutral Sentiment: The market is focused on whether Q1 results will show continued growth in services and hydrogen revenues, with the report likely to drive the next big move in the shares. What to Note Ahead of Plug Power’s Q1 Earnings Release?
• Neutral Sentiment: Recent trading has been highly volatile, with the stock pulling back after a strong April run, suggesting investors may be taking profits while waiting for clearer earnings confirmation. Plug Power (PLUG) Falls More Steeply Than Broader Market: What Investors Need to Know
• Negative Sentiment: Rising costs and foreign-exchange headwinds could pressure margins, which is a key risk for investors heading into earnings. What to Note Ahead of Plug Power’s Q1 Earnings Release?

Institutional Trading of Plug Power

A number of institutional investors have recently bought and sold shares of PLUG. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Plug Power by 12.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,607,153 shares of the electronics maker’s stock valued at $3,520,000 after acquiring an additional 297,754 shares during the last quarter. Focus Partners Wealth bought a new stake in Plug Power during the first quarter valued at $37,000. JPMorgan Chase & Co. boosted its position in Plug Power by 6.8% during the second quarter. JPMorgan Chase & Co. now owns 1,504,744 shares of the electronics maker’s stock valued at $2,242,000 after acquiring an additional 95,876 shares during the last quarter. Prudential Financial Inc. boosted its position in shares of Plug Power by 87.2% during the 2nd quarter. Prudential Financial Inc. now owns 111,945 shares of the electronics maker’s stock worth $167,000 after purchasing an additional 52,135 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Plug Power by 24.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 73,084 shares of the electronics maker’s stock worth $109,000 after purchasing an additional 14,471 shares in the last quarter. 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.