Plug Power Inc. (NASDAQ:PLUG) Receives $2.31 Average Price Target from Analysts

Shares of Plug Power Inc. (NASDAQ:PLUG) have been given a consensus rating of “Hold” by the eighteen research firms that are covering the company, MarketBeat reports. Five research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $2.31.

PLUG has been the topic of a number of research analyst reports. Susquehanna reduced their price target on shares of Plug Power from $2.50 to $1.80 and set a “neutral” rating on the stock in a research note on Wednesday, March 5th. BMO Capital Markets cut their target price on shares of Plug Power from $1.60 to $1.40 and set an “underperform” rating on the stock in a research report on Wednesday, March 5th. Truist Financial lowered their price target on shares of Plug Power from $2.00 to $1.50 and set a “hold” rating for the company in a report on Wednesday, March 5th. HC Wainwright reiterated a “buy” rating and issued a $3.00 price target on shares of Plug Power in a research note on Monday, March 24th. Finally, Seaport Res Ptn lowered Plug Power from a “hold” rating to a “strong sell” rating in a research report on Monday, January 27th.

Plug Power Stock Performance

Shares of NASDAQ:PLUG opened at $1.34 on Friday. Plug Power has a 1 year low of $1.33 and a 1 year high of $4.90. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of -0.63 and a beta of 1.98. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.08 and a quick ratio of 0.95. The company’s 50 day simple moving average is $1.74 and its 200 day simple moving average is $2.06.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PLUG. Pacific Sage Partners LLC acquired a new stake in shares of Plug Power during the fourth quarter worth $25,000. Oppenheimer & Co. Inc. bought a new stake in Plug Power during the fourth quarter valued at $25,000. Jones Financial Companies Lllp grew its holdings in Plug Power by 107.4% during the 4th quarter. Jones Financial Companies Lllp now owns 11,730 shares of the electronics maker’s stock worth $25,000 after acquiring an additional 6,074 shares during the period. Callan Family Office LLC bought a new position in shares of Plug Power in the 4th quarter worth about $27,000. Finally, Ground Swell Capital LLC acquired a new position in shares of Plug Power in the 4th quarter valued at about $27,000. Institutional investors own 43.48% of the company’s stock.

Plug Power Company Profile

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.