Shares of Plug Power Inc (NASDAQ:PLUG) have been given a consensus recommendation of “Hold” by the eleven ratings firms that are covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a sell rating and seven have assigned a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $3.55.
A number of research firms have issued reports on PLUG. BidaskClub downgraded Plug Power from a “sell” rating to a “strong sell” rating in a research note on Wednesday, January 10th. ValuEngine upgraded Plug Power from a “strong sell” rating to a “sell” rating in a research note on Tuesday, March 13th. HC Wainwright set a $4.00 price target on Plug Power and gave the company a “buy” rating in a research note on Thursday, March 8th. Canaccord Genuity set a $5.00 price target on Plug Power and gave the company a “buy” rating in a research note on Wednesday, March 7th. Finally, Zacks Investment Research upgraded Plug Power from a “hold” rating to a “buy” rating and set a $2.50 price target for the company in a research note on Wednesday, January 10th.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. MetLife Investment Advisors LLC purchased a new position in shares of Plug Power in the 4th quarter worth approximately $127,000. TIAA CREF Investment Management LLC boosted its stake in shares of Plug Power by 3.2% in the 4th quarter. TIAA CREF Investment Management LLC now owns 1,061,603 shares of the electronics maker’s stock worth $2,505,000 after buying an additional 32,507 shares during the last quarter. Deutsche Bank AG boosted its stake in shares of Plug Power by 134.8% in the 4th quarter. Deutsche Bank AG now owns 593,619 shares of the electronics maker’s stock worth $1,399,000 after buying an additional 340,811 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of Plug Power by 30.1% in the 4th quarter. Alliancebernstein L.P. now owns 125,890 shares of the electronics maker’s stock worth $297,000 after buying an additional 29,100 shares during the last quarter. Finally, Allianz Asset Management GmbH purchased a new position in shares of Plug Power in the 4th quarter worth approximately $4,198,000. Hedge funds and other institutional investors own 26.59% of the company’s stock.
PLUG stock traded down $0.10 during mid-day trading on Wednesday, reaching $1.79. 2,759,476 shares of the company traded hands, compared to its average volume of 3,636,807. The company has a market capitalization of $432.04, a P/E ratio of -2.95 and a beta of 1.49. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.61 and a current ratio of 1.03. Plug Power has a fifty-two week low of $1.25 and a fifty-two week high of $3.21.
Plug Power (NASDAQ:PLUG) last released its quarterly earnings results on Wednesday, March 7th. The electronics maker reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). The company had revenue of $33.70 million for the quarter, compared to analyst estimates of $31.03 million. Plug Power had a negative net margin of 96.94% and a negative return on equity of 93.76%. Plug Power’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.08) EPS. sell-side analysts forecast that Plug Power will post -0.21 earnings per share for the current fiscal year.
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Plug Power Company Profile
Plug Power Inc is a provider of alternative energy technology focused on the design, development, commercialization and manufacture of hydrogen fuel cell systems used for the industrial off-road market and the stationary power market. The Company’s product line includes GenKey, GenDrive, GenFuel, GenCare and ReliOn.
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