Shares of Plug Power Inc. (NASDAQ:PLUG – Get Free Report) have been given a consensus recommendation of “Hold” by the twenty-seven analysts that are presently covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a sell recommendation, fifteen have given a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $5.49.
PLUG has been the subject of several research reports. Citigroup lowered shares of Plug Power from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $3.25 to $2.00 in a research report on Friday, April 5th. TD Cowen reduced their price objective on shares of Plug Power from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Friday, May 10th. HSBC reduced their price objective on shares of Plug Power from $9.00 to $8.50 and set a “buy” rating for the company in a research report on Tuesday, March 5th. Canaccord Genuity Group reduced their price objective on shares of Plug Power from $4.00 to $3.00 and set a “hold” rating for the company in a research report on Monday, May 13th. Finally, Morgan Stanley reduced their price objective on shares of Plug Power from $3.00 to $2.50 and set an “underweight” rating for the company in a research note on Friday, May 10th.
Read Our Latest Report on PLUG
Plug Power Stock Performance
Plug Power (NASDAQ:PLUG – Get Free Report) last posted its quarterly earnings data on Thursday, May 9th. The electronics maker reported ($0.43) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.11). Plug Power had a negative net margin of 181.96% and a negative return on equity of 43.10%. The business had revenue of $120.26 million for the quarter, compared to the consensus estimate of $162.92 million. On average, sell-side analysts predict that Plug Power will post -1.13 earnings per share for the current fiscal year.
Insider Transactions at Plug Power
In related news, Director George C. Mcnamee sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $2.56, for a total value of $25,600.00. Following the transaction, the director now directly owns 639,572 shares of the company’s stock, valued at approximately $1,637,304.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.70% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Plug Power
A number of institutional investors have recently modified their holdings of PLUG. FAS Wealth Partners Inc. bought a new stake in shares of Plug Power during the 4th quarter worth $45,000. Independent Advisor Alliance bought a new stake in shares of Plug Power during the 4th quarter worth $45,000. Mosley Wealth Management bought a new stake in shares of Plug Power during the 1st quarter worth $35,000. J.W. Cole Advisors Inc. bought a new stake in shares of Plug Power during the 1st quarter worth $36,000. Finally, HighPoint Advisor Group LLC bought a new stake in shares of Plug Power during the 4th quarter worth $48,000. Institutional investors own 43.48% of the company’s stock.
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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