Brokerages Set Plug Power Inc. (NASDAQ:PLUG) Price Target at $6.05

Shares of Plug Power Inc. (NASDAQ:PLUG) have been given an average recommendation of “Hold” by the twenty-six research firms that are currently covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a sell recommendation, fifteen have given a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $6.05.

A number of research analysts have weighed in on the stock. Roth Capital raised shares of Plug Power from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 31st. Susquehanna reduced their price target on shares of Plug Power from $4.50 to $3.50 and set a “neutral” rating on the stock in a research report on Wednesday, January 24th. Royal Bank of Canada reduced their price target on shares of Plug Power from $5.00 to $3.50 and set a “sector perform” rating on the stock in a research report on Wednesday, January 24th. Evercore ISI reduced their price target on shares of Plug Power from $9.00 to $6.00 and set an “outperform” rating on the stock in a research report on Monday, March 4th. Finally, Citigroup cut shares of Plug Power from a “neutral” rating to a “sell” rating and reduced their price target for the company from $3.25 to $2.00 in a research report on Friday, April 5th.

Plug Power Stock Down 0.7 %

Shares of NASDAQ PLUG opened at $2.71 on Friday. Plug Power has a 12 month low of $2.26 and a 12 month high of $13.44. The company has a current ratio of 1.85, a quick ratio of 0.86 and a debt-to-equity ratio of 0.18. The company has a 50-day simple moving average of $3.46 and a 200-day simple moving average of $4.32.

Plug Power (NASDAQ:PLUG) last issued its quarterly earnings results on Friday, March 1st. The electronics maker reported ($1.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.52). Plug Power had a negative return on equity of 38.09% and a negative net margin of 153.57%. The firm had revenue of $222.20 million for the quarter, compared to analysts’ expectations of $234.21 million. During the same quarter last year, the firm earned ($0.38) earnings per share. The business’s quarterly revenue was up .7% compared to the same quarter last year. Sell-side analysts anticipate that Plug Power will post -0.95 earnings per share for the current year.

Institutional Trading of Plug Power

Hedge funds and other institutional investors have recently made changes to their positions in the stock. ICA Group Wealth Management LLC bought a new stake in shares of Plug Power in the fourth quarter worth $35,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Plug Power in the first quarter worth $41,000. Millburn Ridgefield Corp bought a new stake in shares of Plug Power in the third quarter worth $29,000. Exchange Traded Concepts LLC increased its stake in shares of Plug Power by 30.3% in the third quarter. Exchange Traded Concepts LLC now owns 6,486 shares of the electronics maker’s stock worth $49,000 after buying an additional 1,510 shares during the last quarter. Finally, Ossiam increased its stake in shares of Plug Power by 32.5% in the first quarter. Ossiam now owns 6,712 shares of the electronics maker’s stock worth $79,000 after buying an additional 1,646 shares during the last quarter. Institutional investors own 43.48% of the company’s stock.

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.