Analysts Set Plug Power Inc (PLUG) PT at $3.29

Plug Power Inc (NASDAQ:PLUG) has earned an average rating of “Hold” from the twelve research firms that are presently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $3.29.

Several equities research analysts recently commented on PLUG shares. Cowen reissued a “buy” rating and set a $3.00 price objective on shares of Plug Power in a research note on Sunday, September 17th. Zacks Investment Research lowered shares of Plug Power from a “hold” rating to a “sell” rating in a research note on Tuesday, September 26th. Craig Hallum boosted their price objective on shares of Plug Power from $3.00 to $4.00 and gave the stock a “buy” rating in a research note on Friday, October 6th. FBR & Co reissued a “buy” rating on shares of Plug Power in a research note on Tuesday, October 31st. Finally, B. Riley reissued a “buy” rating on shares of Plug Power in a research note on Wednesday, November 1st.

Plug Power (NASDAQ:PLUG) traded up $0.04 during trading hours on Monday, reaching $2.45. 3,139,964 shares of the company traded hands, compared to its average volume of 7,021,482. Plug Power has a 1-year low of $0.83 and a 1-year high of $3.21. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.86 and a current ratio of 1.29.

Plug Power (NASDAQ:PLUG) last posted its quarterly earnings data on Wednesday, November 8th. The electronics maker reported ($0.04) EPS for the quarter, hitting the consensus estimate of ($0.04). Plug Power had a negative net margin of 96.27% and a negative return on equity of 83.93%. The business had revenue of $61.43 million for the quarter, compared to analyst estimates of $54.57 million. During the same quarter in the previous year, the firm posted $0.07 earnings per share. Plug Power’s quarterly revenue was up 249.0% on a year-over-year basis. research analysts anticipate that Plug Power will post -0.51 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of PLUG. Brighton Jones LLC purchased a new position in Plug Power in the 2nd quarter worth about $102,000. Adalta Capital Management LLC purchased a new position in Plug Power in the 2nd quarter worth about $106,000. Archford Capital Strategies LLC increased its stake in Plug Power by 20,422.2% in the 2nd quarter. Archford Capital Strategies LLC now owns 1,847 shares of the electronics maker’s stock worth $115,000 after buying an additional 1,838 shares during the period. Virtu KCG Holdings LLC increased its stake in Plug Power by 126.4% in the 2nd quarter. Virtu KCG Holdings LLC now owns 92,497 shares of the electronics maker’s stock worth $189,000 after buying an additional 51,638 shares during the period. Finally, Voya Investment Management LLC increased its stake in Plug Power by 23.2% in the 2nd quarter. Voya Investment Management LLC now owns 105,772 shares of the electronics maker’s stock worth $216,000 after buying an additional 19,904 shares during the period. 24.30% of the stock is currently owned by institutional investors.

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About Plug Power

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.

Analyst Recommendations for Plug Power (NASDAQ:PLUG)

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