Plug Power Inc (NASDAQ:PLUG) Given Average Rating of “Buy” by Analysts

Shares of Plug Power Inc (NASDAQ:PLUG) have been given an average recommendation of “Buy” by the nine brokerages that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $2.80.

PLUG has been the subject of several analyst reports. Zacks Investment Research raised shares of Hallmark Financial Services from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research note on Friday. ValuEngine raised shares of Zumiez from a “sell” rating to a “hold” rating in a research note on Saturday, March 30th. Finally, BidaskClub downgraded shares of Xperi from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 19th.

NASDAQ PLUG remained flat at $$2.31 during trading on Tuesday. 2,037,567 shares of the company’s stock traded hands, compared to its average volume of 3,209,283. The company has a current ratio of 1.88, a quick ratio of 1.14 and a debt-to-equity ratio of 66.88. Plug Power has a twelve month low of $0.99 and a twelve month high of $2.87. The business has a 50 day moving average of $2.38.

Plug Power (NASDAQ:PLUG) last announced its quarterly earnings data on Wednesday, May 8th. The electronics maker reported ($0.15) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.07). The firm had revenue of $18.60 million during the quarter, compared to the consensus estimate of $32.17 million. Plug Power had a negative return on equity of 802.38% and a negative net margin of 53.11%. The firm’s revenue for the quarter was down 29.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.07) EPS. As a group, research analysts predict that Plug Power will post -0.38 earnings per share for the current fiscal year.

Several institutional investors have recently bought and sold shares of the company. FormulaFolio Investments LLC raised its stake in shares of Plug Power by 52.8% during the first quarter. FormulaFolio Investments LLC now owns 16,200 shares of the electronics maker’s stock valued at $39,000 after acquiring an additional 5,600 shares in the last quarter. First Trust Advisors LP raised its stake in Plug Power by 3.8% in the first quarter. First Trust Advisors LP now owns 227,250 shares of the electronics maker’s stock worth $545,000 after buying an additional 8,331 shares in the last quarter. Legal & General Group Plc raised its stake in Plug Power by 27.4% in the fourth quarter. Legal & General Group Plc now owns 39,763 shares of the electronics maker’s stock worth $50,000 after buying an additional 8,556 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new position in Plug Power in the first quarter worth approximately $25,000. Finally, Advisor Group Inc. raised its stake in Plug Power by 38.0% in the fourth quarter. Advisor Group Inc. now owns 53,000 shares of the electronics maker’s stock worth $66,000 after buying an additional 14,590 shares in the last quarter. 33.28% of the stock is owned by hedge funds and other institutional investors.

Plug Power Company Profile

Plug Power Inc, an alternative energy technology provider, engages in the design, development, manufacture, and commercialization of hydrogen and fuel cell systems for the material handling and stationary power markets primarily in North America and Europe. It focuses on proton exchange membrane (PEM) fuel cell and fuel processing technologies, fuel cell/battery hybrid technologies, and related hydrogen storage and dispensing infrastructure.

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Analyst Recommendations for Plug Power (NASDAQ:PLUG)

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