Plug Power (NASDAQ:PLUG) Price Target Cut to $3.00

Plug Power (NASDAQ:PLUG) had its price objective lowered by Susquehanna from $3.50 to $3.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the electronics maker’s stock. Susquehanna’s target price indicates a potential upside of 8.30% from the company’s previous close.

Several other research firms have also recently weighed in on PLUG. Royal Bank of Canada decreased their price objective on Plug Power from $5.00 to $3.50 and set a “sector perform” rating for the company in a research report on Wednesday, January 24th. Seaport Res Ptn cut shares of Plug Power from a “buy” rating to a “neutral” rating in a report on Tuesday, February 6th. UBS Group lowered shares of Plug Power from a “buy” rating to a “neutral” rating and set a $4.75 price objective on the stock. in a report on Tuesday, February 6th. Roth Mkm raised shares of Plug Power from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $4.50 to $9.00 in a research report on Wednesday, January 31st. Finally, Truist Financial increased their target price on Plug Power from $3.00 to $4.00 and gave the stock a “hold” rating in a report on Wednesday, February 28th. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $6.01.

Plug Power Stock Up 9.9 %

Shares of NASDAQ:PLUG opened at $2.77 on Friday. The company has a 50 day moving average price of $3.09 and a two-hundred day moving average price of $3.87. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.86 and a current ratio of 1.85. The company has a market capitalization of $1.93 billion, a PE ratio of -1.21 and a beta of 1.64. Plug Power has a 52 week low of $2.25 and a 52 week high of $13.44.

Plug Power (NASDAQ:PLUG) last released its quarterly earnings data on Friday, March 1st. The electronics maker reported ($1.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.52). The firm had revenue of $222.20 million during the quarter, compared to the consensus estimate of $234.21 million. Plug Power had a negative net margin of 153.57% and a negative return on equity of 38.09%. Plug Power’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.38) EPS. Analysts forecast that Plug Power will post -0.94 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. State of New Jersey Common Pension Fund D increased its holdings in shares of Plug Power by 104.9% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 651,695 shares of the electronics maker’s stock valued at $2,933,000 after purchasing an additional 333,708 shares during the last quarter. SG Americas Securities LLC lifted its position in Plug Power by 183.6% during the fourth quarter. SG Americas Securities LLC now owns 1,656,282 shares of the electronics maker’s stock worth $7,453,000 after acquiring an additional 1,072,344 shares during the last quarter. UniSuper Management Pty Ltd boosted its holdings in shares of Plug Power by 78.5% during the third quarter. UniSuper Management Pty Ltd now owns 2,064,304 shares of the electronics maker’s stock worth $15,689,000 after acquiring an additional 907,604 shares during the period. Gabelli Funds LLC grew its position in shares of Plug Power by 9.4% in the third quarter. Gabelli Funds LLC now owns 87,500 shares of the electronics maker’s stock valued at $665,000 after purchasing an additional 7,500 shares during the last quarter. Finally, Compagnie Lombard Odier SCmA boosted its stake in Plug Power by 21.0% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 36,250 shares of the electronics maker’s stock valued at $163,000 after purchasing an additional 6,300 shares during the period. 43.48% of the stock is owned by institutional investors and hedge funds.

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.