By otakuyassine3@gmail.com 
Shares of Plug Power Inc. (NASDAQ:PLUG – Get Free Report) have been given a consensus rating of “Hold” by the twenty-three analysts that are presently covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $4.52.
A number of analysts have issued reports on PLUG shares. BTIG Research downgraded shares of Plug Power from a “buy” rating to a “neutral” rating in a report on Thursday, November 14th. Evercore ISI reduced their price target on Plug Power from $5.00 to $4.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 13th. Piper Sandler dropped their price objective on Plug Power from $1.60 to $1.40 and set an “underweight” rating for the company in a report on Thursday, November 14th. Canaccord Genuity Group cut their target price on Plug Power from $2.50 to $2.25 and set a “hold” rating for the company in a research report on Wednesday, November 13th. Finally, Wells Fargo & Company dropped their price target on Plug Power from $3.00 to $2.00 and set an “equal weight” rating for the company in a research note on Thursday, November 14th.
Check Out Our Latest Analysis on Plug Power
Plug Power Price Performance
Shares of NASDAQ PLUG opened at $2.42 on Wednesday. The firm has a market cap of $2.21 billion, a P/E ratio of -1.13 and a beta of 1.76. The business’s 50 day moving average is $2.19 and its 200-day moving average is $2.25. The company has a current ratio of 2.08, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. Plug Power has a 1-year low of $1.60 and a 1-year high of $5.14.
Plug Power (NASDAQ:PLUG – Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.01). The firm had revenue of $173.70 million for the quarter, compared to the consensus estimate of $207.25 million. Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. The firm’s quarterly revenue was down 12.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.47) EPS. Equities research analysts predict that Plug Power will post -1.2 earnings per share for the current year.
Institutional Trading of Plug Power
Several hedge funds and other institutional investors have recently made changes to their positions in PLUG. Charles Schwab Investment Management Inc. boosted its position in Plug Power by 25.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,637,039 shares of the electronics maker’s stock worth $15,000,000 after buying an additional 1,354,500 shares during the period. XTX Topco Ltd acquired a new position in shares of Plug Power during the third quarter worth $2,174,000. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Plug Power by 24.5% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,421,222 shares of the electronics maker’s stock worth $5,472,000 after purchasing an additional 476,060 shares during the period. Stifel Financial Corp increased its holdings in Plug Power by 23.4% in the third quarter. Stifel Financial Corp now owns 1,398,398 shares of the electronics maker’s stock valued at $3,160,000 after purchasing an additional 265,514 shares during the period. Finally, MetLife Investment Management LLC increased its holdings in Plug Power by 166.4% in the third quarter. MetLife Investment Management LLC now owns 424,297 shares of the electronics maker’s stock valued at $959,000 after purchasing an additional 265,042 shares during the period. 43.48% of the stock is currently owned by institutional investors.
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.
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