Brokerages Set Plug Power, Inc. (NASDAQ:PLUG) Target Price at $3.59

Shares of Plug Power, Inc. (NASDAQ:PLUG) have earned a consensus recommendation of “Hold” from the seventeen brokerages that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation, five have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $3.5875.

PLUG has been the topic of several recent research reports. Canaccord Genuity Group raised their price target on Plug Power from $2.50 to $4.00 and gave the stock a “hold” rating in a report on Tuesday, May 12th. TD Cowen increased their target price on Plug Power from $2.00 to $3.00 and gave the stock a “hold” rating in a research report on Tuesday, May 12th. UBS Group reiterated a “buy” rating and issued a $5.00 target price on shares of Plug Power in a research note on Tuesday, August 11th. Jefferies Financial Group raised shares of Plug Power to a “hold” rating in a report on Thursday, September 3rd. Finally, Susquehanna lowered their price target on shares of Plug Power from $3.75 to $2.50 and set a “neutral” rating for the company in a research report on Friday, July 10th.

Hedge Funds Weigh In On Plug Power

Hedge funds and other institutional investors have recently made changes to their positions in the business. Kestra Advisory Services LLC raised its stake in Plug Power by 11.8% during the 1st quarter. Kestra Advisory Services LLC now owns 43,007 shares of the electronics maker’s stock valued at $97,000 after acquiring an additional 4,525 shares in the last quarter. Earned Wealth Advisors LLC lifted its position in Plug Power by 12.6% in the first quarter. Earned Wealth Advisors LLC now owns 44,061 shares of the electronics maker’s stock worth $100,000 after purchasing an additional 4,923 shares during the period. GTS Securities LLC boosted its stake in Plug Power by 18.9% during the second quarter. GTS Securities LLC now owns 32,330 shares of the electronics maker’s stock valued at $88,000 after buying an additional 5,135 shares in the last quarter. Abel Hall LLC boosted its position in shares of Plug Power by 9.2% during the 1st quarter. Abel Hall LLC now owns 62,213 shares of the electronics maker’s stock valued at $141,000 after purchasing an additional 5,223 shares in the last quarter. Finally, Wealthfront Advisers LLC boosted its holdings in Plug Power by 8.2% during the first quarter. Wealthfront Advisers LLC now owns 69,709 shares of the electronics maker’s stock worth $158,000 after buying an additional 5,283 shares in the last quarter. 43.48% of the stock is currently owned by institutional investors and hedge funds.

Plug Power Price Performance

Shares of NASDAQ:PLUG opened at $2.26 on Friday. The company has a market cap of $3.16 billion, a PE ratio of -1.79 and a beta of 2.21. Plug Power has a fifty-two week low of $1.41 and a fifty-two week high of $4.58. The firm has a 50-day simple moving average of $2.22 and a 200 day simple moving average of $2.61. The company has a quick ratio of 1.32, a current ratio of 2.32 and a debt-to-equity ratio of 1.29.

Plug Power (NASDAQ:PLUG) last issued its earnings results 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 firm had revenue of $178.30 million for the quarter, compared to analysts’ expectations of $169.11 million. Plug Power had a negative net margin of 220.59% and a negative return on equity of 56.01%. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Plug Power will post -0.26 EPS for the current year.

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.