Brokerages Set Plug Power Inc. (NASDAQ:PLUG) Price Target at $4.52

Plug Power Inc. (NASDAQ:PLUG) has been given an average rating of “Hold” by the twenty-three research firms that are presently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $4.52.

Several research firms have issued reports on PLUG. Wells Fargo & Company cut their price objective on Plug Power from $3.00 to $2.00 and set an “equal weight” rating on the stock in a report on Thursday, November 14th. Evercore ISI reduced their price target on shares of Plug Power from $5.00 to $4.00 and set an “outperform” rating for the company in a research report on Wednesday, November 13th. Jefferies Financial Group lowered their price objective on shares of Plug Power from $2.20 to $2.00 and set a “hold” rating on the stock in a research report on Thursday, October 3rd. Piper Sandler reduced their target price on Plug Power from $1.60 to $1.40 and set an “underweight” rating for the company in a report on Thursday, November 14th. Finally, HC Wainwright reiterated a “buy” rating and set a $18.00 price target on shares of Plug Power in a report on Wednesday, November 13th.

Plug Power Trading Up 11.3 %

Plug Power stock opened at $2.56 on Wednesday. The firm has a market cap of $2.33 billion, a price-to-earnings ratio of -1.20 and a beta of 1.76. Plug Power has a 1 year low of $1.60 and a 1 year high of $5.14. The firm’s 50 day moving average price is $2.18 and its two-hundred day moving average price is $2.26. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 2.08.

Plug Power (NASDAQ:PLUG) last issued its earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. The company had revenue of $173.70 million during the quarter, compared to analyst estimates of $207.25 million. During the same quarter in the previous year, the firm earned ($0.47) earnings per share. The business’s revenue was down 12.6% compared to the same quarter last year. On average, research analysts predict that Plug Power will post -1.2 EPS for the current fiscal year.

Institutional Trading of Plug Power

A number of institutional investors and hedge funds have recently modified their holdings of the company. Nisa Investment Advisors LLC raised its holdings in Plug Power by 1,355.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 96,643 shares of the electronics maker’s stock worth $225,000 after acquiring an additional 90,003 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Plug Power by 69.4% in the second quarter. Bank of New York Mellon Corp now owns 2,530,346 shares of the electronics maker’s stock worth $5,896,000 after purchasing an additional 1,036,777 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Plug Power by 37.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 798,396 shares of the electronics maker’s stock worth $1,860,000 after purchasing an additional 219,570 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its stake in Plug Power by 57.8% during the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 341,906 shares of the electronics maker’s stock valued at $797,000 after purchasing an additional 125,260 shares during the period. Finally, Nations Financial Group Inc. IA ADV acquired a new stake in Plug Power in the 2nd quarter valued at approximately $26,000. 43.48% of the stock is currently owned by institutional investors and hedge funds.

About Plug Power

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.