Plug Power Inc. (NASDAQ:PLUG) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Plug Power Inc. (NASDAQ:PLUG) have been given an average recommendation of “Hold” by the eighteen research firms that are covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $2.31.

A number of equities research analysts have issued reports on PLUG shares. Truist Financial decreased their target price on Plug Power from $2.00 to $1.50 and set a “hold” rating for the company in a research report on Wednesday, March 5th. Seaport Res Ptn downgraded shares of Plug Power from a “hold” rating to a “strong sell” rating in a report on Monday, January 27th. Susquehanna dropped their target price on shares of Plug Power from $2.50 to $1.80 and set a “neutral” rating on the stock in a report on Wednesday, March 5th. UBS Group decreased their price target on shares of Plug Power from $2.50 to $1.75 and set a “neutral” rating for the company in a report on Friday, March 21st. Finally, StockNews.com upgraded Plug Power to a “sell” rating in a research note on Tuesday, March 4th.

Institutional Investors Weigh In On Plug Power

A number of institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted its holdings in shares of Plug Power by 25.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,637,039 shares of the electronics maker’s stock worth $15,000,000 after acquiring an additional 1,354,500 shares during the period. XTX Topco Ltd acquired a new position in Plug Power in the third quarter worth about $2,174,000. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Plug Power by 24.5% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,421,222 shares of the electronics maker’s stock worth $5,472,000 after purchasing an additional 476,060 shares during the period. Stifel Financial Corp boosted its holdings in Plug Power by 23.4% during the third quarter. Stifel Financial Corp now owns 1,398,398 shares of the electronics maker’s stock valued at $3,160,000 after purchasing an additional 265,514 shares in the last quarter. Finally, MetLife Investment Management LLC grew its stake in shares of Plug Power by 166.4% in the 3rd quarter. MetLife Investment Management LLC now owns 424,297 shares of the electronics maker’s stock valued at $959,000 after purchasing an additional 265,042 shares during the period. Institutional investors and hedge funds own 43.48% of the company’s stock.

Plug Power Price Performance

Shares of NASDAQ:PLUG opened at $1.44 on Friday. The stock has a market capitalization of $1.33 billion, a P/E ratio of -0.67 and a beta of 1.98. The business has a 50-day moving average of $1.76 and a two-hundred day moving average of $2.06. Plug Power has a fifty-two week low of $1.37 and a fifty-two week high of $4.90. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.08 and a quick ratio of 0.95.

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.