Analysts Set Plug Power, Inc. (NASDAQ:PLUG) Price Target at $2.54

by · The Cerbat Gem

Plug Power, Inc. (NASDAQ:PLUG – Get Free Report) has earned an average recommendation of “Hold” from the nineteen brokerages that are presently covering the company, MarketBeat reports. Six research analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $2.5393.

Several research firms have commented on PLUG. Hsbc Global Res upgraded shares of Plug Power to a “strong-buy” rating in a report on Thursday, October 9th. Wall Street Zen upgraded shares of Plug Power from a “sell” rating to a “hold” rating in a research note on Saturday. HSBC set a $4.40 price target on shares of Plug Power in a report on Thursday, October 9th. Susquehanna boosted their price objective on Plug Power from $1.80 to $3.50 and gave the stock a “neutral” rating in a report on Monday, October 13th. Finally, HC Wainwright increased their target price on Plug Power from $3.00 to $7.00 and gave the stock a “buy” rating in a research note on Friday, October 3rd.

Read Our Latest Stock Report on Plug Power

Plug Power Price Performance

NASDAQ:PLUG opened at $2.56 on Friday. Plug Power has a 12-month low of $0.69 and a 12-month high of $4.58. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of -1.11 and a beta of 2.28. The stock’s 50 day moving average price is $2.63 and its two-hundred day moving average price is $1.75. The company has a quick ratio of 0.82, a current ratio of 1.59 and a debt-to-equity ratio of 0.22.

Plug Power (NASDAQ:PLUG – Get Free Report) last posted its earnings results on Monday, November 10th. The electronics maker reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.01. Plug Power had a negative return on equity of 90.22% and a negative net margin of 292.84%.The business had revenue of $177.06 million for the quarter, compared to analyst estimates of $185.41 million. Plug Power has set its FY 2025 guidance at EPS. On average, analysts anticipate that Plug Power will post -1.21 earnings per share for the current year.

Hedge Funds Weigh In On Plug Power

Institutional investors and hedge funds have recently modified their holdings of the business. Profund Advisors LLC raised its stake in Plug Power by 24.4% in the 3rd quarter. Profund Advisors LLC now owns 20,188 shares of the electronics maker’s stock worth $47,000 after purchasing an additional 3,961 shares in the last quarter. SlateStone Wealth LLC grew its position in shares of Plug Power by 16.0% during the 3rd quarter. SlateStone Wealth LLC now owns 29,077 shares of the electronics maker’s stock worth $68,000 after purchasing an additional 4,000 shares in the last quarter. Signature Estate & Investment Advisors LLC increased its holdings in shares of Plug Power by 33.4% during the third quarter. Signature Estate & Investment Advisors LLC now owns 18,414 shares of the electronics maker’s stock worth $43,000 after purchasing an additional 4,615 shares during the period. QRG Capital Management Inc. increased its holdings in shares of Plug Power by 31.8% during the second quarter. QRG Capital Management Inc. now owns 25,014 shares of the electronics maker’s stock worth $37,000 after purchasing an additional 6,039 shares during the period. Finally, Mandatum Life Insurance Co Ltd raised its position in shares of Plug Power by 17.6% in the second quarter. Mandatum Life Insurance Co Ltd now owns 48,887 shares of the electronics maker’s stock valued at $73,000 after buying an additional 7,300 shares in the last quarter. 43.48% of the stock is currently owned by institutional investors and hedge funds.

About Plug Power

(Get Free Report)

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.

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