Plug Power Inc. (NASDAQ:PLUG) Receives $12.70 Average Price Target from Analysts

Shares of Plug Power Inc. (NASDAQ:PLUG) have earned an average rating of “Hold” from the twenty-one research firms that are currently covering the firm, Marketbeat Ratings reports. Fifteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $9.83.

Several equities analysts have recently commented on PLUG shares. Citigroup lowered Plug Power from a “buy” rating to a “neutral” rating and lowered their target price for the company from $12.50 to $5.00 in a report on Thursday, November 16th. Jefferies Financial Group reaffirmed a “hold” rating and set a $6.00 target price on shares of Plug Power in a report on Friday, November 10th. Wolfe Research lowered Plug Power from an “outperform” rating to a “peer perform” rating in a report on Monday, November 13th. Royal Bank of Canada lowered Plug Power from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from $12.00 to $5.00 in a report on Friday, November 10th. Finally, Northland Securities lowered Plug Power from an “outperform” rating to a “market perform” rating and set a $7.00 target price for the company. in a report on Friday, November 10th.

Insiders Place Their Bets

In other Plug Power news, insider Jose Luis Crespo sold 31,958 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $7.20, for a total value of $230,097.60. Following the completion of the sale, the insider now directly owns 250,609 shares in the company, valued at $1,804,384.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Plug Power

Institutional investors and hedge funds have recently modified their holdings of the stock. ICA Group Wealth Management LLC acquired a new stake in shares of Plug Power during the 4th quarter valued at $35,000. Smithfield Trust Co acquired a new stake in shares of Plug Power during the 2nd quarter valued at $31,000. Glass Jacobson Investment Advisors llc acquired a new stake in shares of Plug Power during the 2nd quarter valued at $34,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Plug Power during the 1st quarter valued at $41,000. Finally, Millburn Ridgefield Corp acquired a new stake in shares of Plug Power during the 3rd quarter valued at $29,000. Institutional investors and hedge funds own 49.99% of the company’s stock.

Plug Power Stock Down 3.3 %

Shares of Plug Power stock opened at $3.87 on Tuesday. The company has a quick ratio of 1.31, a current ratio of 2.41 and a debt-to-equity ratio of 0.15. The firm has a market cap of $2.34 billion, a P/E ratio of -2.42 and a beta of 1.98. Plug Power has a fifty-two week low of $3.22 and a fifty-two week high of $18.88. The business has a 50-day moving average price of $6.55 and a 200 day moving average price of $8.60.

Plug Power (NASDAQ:PLUG) last announced its quarterly earnings data on Thursday, November 9th. The electronics maker reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.15). The firm had revenue of $198.71 million during the quarter, compared to the consensus estimate of $219.57 million. Plug Power had a negative net margin of 106.74% and a negative return on equity of 24.18%. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.30) earnings per share. On average, sell-side analysts forecast that Plug Power will post -1.47 earnings per share for the current fiscal year.

Plug Power Company Profile

Plug Power Inc delivers end-to-end clean hydrogen and zero-emissions fuel cell solutions for supply chain and logistics applications, on-road electric vehicles, stationary power market, and others in North America and internationally. It engages in building an end-to-end green hydrogen ecosystem, including liquid green hydrogen production, storage and handling, transportation, and dispensing infrastructure.