Plug Power, Inc. (NASDAQ:PLUG) Receives $3.00 Average Target Price from Analysts
by Scott Moore · The Cerbat GemShares of Plug Power, Inc. (NASDAQ:PLUG – Get Free Report) have received an average rating of “Hold” from the sixteen research firms that are presently covering the stock, MarketBeat reports. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $3.0250.
Several brokerages have recently commented on PLUG. Weiss Ratings restated a “sell (d-)” rating on shares of Plug Power in a research note on Thursday, January 22nd. Clear Str upgraded Plug Power from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 31st. Wells Fargo & Company raised their target price on Plug Power from $1.50 to $2.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 4th. Oppenheimer restated a “market perform” rating on shares of Plug Power in a research note on Tuesday, March 3rd. Finally, BMO Capital Markets restated an “underperform” rating and issued a $1.00 target price on shares of Plug Power in a research note on Tuesday, March 3rd.
Read Our Latest Research Report on PLUG
Plug Power Stock Up 3.4%
Shares of NASDAQ:PLUG opened at $2.74 on Tuesday. Plug Power has a 52 week low of $0.69 and a 52 week high of $4.58. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.46 and a current ratio of 2.31. The company’s fifty day moving average is $2.15 and its 200-day moving average is $2.39. The company has a market capitalization of $3.82 billion, a PE ratio of -2.03 and a beta of 1.79.
Plug Power (NASDAQ:PLUG – Get Free Report) last issued its earnings results on Monday, March 2nd. The electronics maker reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.04. Plug Power had a negative net margin of 229.83% and a negative return on equity of 45.97%. The company had revenue of $225.22 million for the quarter, compared to the consensus estimate of $217.38 million. During the same quarter in the previous year, the company earned ($1.48) EPS. Equities research analysts predict that Plug Power will post -1.21 earnings per share for the current fiscal year.
Insider Buying and Selling at Plug Power
In other news, insider Benjamin Haycraft sold 40,000 shares of the firm’s stock in a transaction on Monday, January 12th. The stock was sold at an average price of $2.17, for a total value of $86,800.00. Following the completion of the sale, the insider directly owned 333,809 shares in the company, valued at approximately $724,365.53. This trade represents a 10.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.56% of the company’s stock.
Institutional Trading of Plug Power
A number of hedge funds and other institutional investors have recently made changes to their positions in PLUG. Vanguard Group Inc. increased its stake in shares of Plug Power by 18.2% in the fourth quarter. Vanguard Group Inc. now owns 129,599,295 shares of the electronics maker’s stock valued at $255,311,000 after buying an additional 19,967,339 shares in the last quarter. Renaissance Technologies LLC bought a new position in Plug Power in the fourth quarter valued at about $27,684,000. Two Sigma Investments LP boosted its holdings in Plug Power by 292.1% in the third quarter. Two Sigma Investments LP now owns 10,830,893 shares of the electronics maker’s stock valued at $25,236,000 after acquiring an additional 8,068,713 shares during the last quarter. Graham Capital Management L.P. boosted its holdings in Plug Power by 110.7% in the fourth quarter. Graham Capital Management L.P. now owns 737,112 shares of the electronics maker’s stock valued at $1,452,000 after acquiring an additional 7,640,212 shares during the last quarter. Finally, State Street Corp boosted its holdings in Plug Power by 29.9% in the fourth quarter. State Street Corp now owns 32,258,283 shares of the electronics maker’s stock valued at $63,549,000 after acquiring an additional 7,416,943 shares during the last quarter. 43.48% of the stock is currently owned by institutional investors and hedge funds.
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.