Plug Power, Inc. (PLUG) – What Are Brokerages Thinking About This Stock?

Shares of Plug Power, Inc. (NASDAQ:PLUG) have received an average recommendation of “Hold” from the sixteen brokerages that are currently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $3.40.

Several equities analysts have recently commented on PLUG shares. HC Wainwright reaffirmed a “buy” rating and set a $7.00 price objective on shares of Plug Power in a research note on Tuesday, September 29th. Roth Capital reissued a “buy” rating and set a $5.00 price objective (up from $3.50) on shares of Plug Power in a research report on Wednesday, August 12th. Craig Hallum restated a “buy” rating on shares of Plug Power in a report on Tuesday, August 11th. Wall Street Zen upgraded Plug Power from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 17th. Finally, UBS Group restated a “buy” rating and set a $5.00 price target on shares of Plug Power in a research report on Tuesday, August 11th.

Plug Power Stock Performance

NASDAQ PLUG opened at $1.42 on Friday. Plug Power has a 1 year low of $1.34 and a 1 year high of $4.33. The stock has a market capitalization of $1.98 billion, a PE ratio of -1.13 and a beta of 2.28. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.32 and a quick ratio of 1.32. The company’s 50 day simple moving average is $1.89 and its two-hundred day simple moving average is $2.40.

Plug Power (NASDAQ:PLUG) last posted its quarterly earnings data on Monday, August 10th. The electronics maker reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. The company had revenue of $178.30 million during the quarter, compared to the consensus estimate of $169.11 million. Plug Power had a negative net margin of 220.59% and a negative return on equity of 56.01%. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. Analysts predict that Plug Power will post -0.25 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Benjamin Haycraft sold 200,000 shares of the business’s stock in a transaction on Friday, September 18th. The shares were sold at an average price of $2.14, for a total transaction of $428,000.00. Following the sale, the insider owned 101,249 shares in the company, valued at approximately $216,672.86. The trade was a 66.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 241,935 shares of company stock worth $509,397 over the last ninety days. Company insiders own 1.37% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. BlackRock Inc. grew its position in Plug Power by 21.0% during the 2nd quarter. BlackRock Inc. now owns 184,032,469 shares of the electronics maker’s stock valued at $498,728,000 after purchasing an additional 31,939,194 shares during the last quarter. Headlands Technologies LLC bought a new stake in Plug Power during the 2nd quarter valued at about $4,779,000. Russell Investments Group Ltd. increased its stake in Plug Power by 553.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 710,470 shares of the electronics maker’s stock valued at $1,925,000 after purchasing an additional 601,816 shares in the last quarter. California State Teachers Retirement System increased its position in shares of Plug Power by 45.6% during the first quarter. California State Teachers Retirement System now owns 1,560,305 shares of the electronics maker’s stock valued at $3,526,000 after acquiring an additional 488,883 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Plug Power by 97.4% during the 1st quarter. Renaissance Technologies LLC now owns 27,738,500 shares of the electronics maker’s stock valued at $62,689,000 after purchasing an additional 13,685,900 shares during the last quarter. 43.48% of the stock is currently owned by institutional investors.

Plug Power Company Profile

Plug Power Inc is a clean-energy technology company that develops hydrogen and fuel-cell solutions for commercial and industrial customers. Founded in 1997 and headquartered in Latham, New York, the company focuses on replacing conventional batteries and fossil-fuel-powered equipment with hydrogen-based power systems.

Its product portfolio includes fuel-cell systems for material-handling equipment, backup and stationary power, and commercial vehicles; hydrogen engines and fuel-cell stacks; electrolyzers that produce hydrogen from water; and hydrogen generation, storage, and delivery infrastructure.