Plug Power (NASDAQ:PLUG) Price Target Lowered to $2.50 at Susquehanna

Plug Power (NASDAQ:PLUG) had its target price lowered by research analysts at Susquehanna from $3.75 to $2.50 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the electronics maker’s stock. Susquehanna’s price target would indicate a potential upside of 5.04% from the stock’s previous close.

A number of other equities analysts have also weighed in on PLUG. Weiss Ratings lowered Plug Power from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, June 25th. BMO Capital Markets boosted their price target on Plug Power from $1.00 to $1.20 and gave the company an “underperform” rating in a research note on Tuesday, May 12th. Wall Street Zen raised Plug Power from a “sell” rating to a “hold” rating in a report on Monday, June 29th. B. Riley Financial increased their price objective on Plug Power from $3.00 to $5.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Finally, Wells Fargo & Company lifted their target price on Plug Power from $2.00 to $2.50 and gave the stock an “equal weight” rating in a report on Tuesday, May 19th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $3.30.

Plug Power Stock Performance

NASDAQ PLUG opened at $2.38 on Friday. The stock has a market cap of $3.32 billion, a PE ratio of -1.80 and a beta of 2.16. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.40 and a current ratio of 2.36. The firm has a 50-day moving average of $3.18 and a 200-day moving average of $2.61. Plug Power has a 52-week low of $1.39 and a 52-week high of $4.58.

Plug Power (NASDAQ:PLUG) last announced its quarterly earnings results on Monday, May 11th. The electronics maker reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. The business had revenue of $163.51 million for the quarter, compared to analyst estimates of $139.87 million. Plug Power had a negative net margin of 227.13% and a negative return on equity of 49.30%. Plug Power’s quarterly revenue was up 22.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.21) EPS. On average, sell-side analysts anticipate that Plug Power will post -0.25 EPS for the current year.

Institutional Investors Weigh In On Plug Power

A number of hedge funds and other institutional investors have recently made changes to their positions in PLUG. Vanguard Group Inc. increased its stake in Plug Power by 18.2% during the 4th quarter. Vanguard Group Inc. now owns 129,599,295 shares of the electronics maker’s stock worth $255,311,000 after acquiring an additional 19,967,339 shares during the period. SG Americas Securities LLC lifted its position in shares of Plug Power by 208.6% during the 4th quarter. SG Americas Securities LLC now owns 1,119,191 shares of the electronics maker’s stock valued at $2,205,000 after acquiring an additional 756,510 shares during the period. Leonteq Securities AG bought a new stake in shares of Plug Power during the 4th quarter valued at $734,000. Prescott Group Capital Management L.L.C. acquired a new stake in shares of Plug Power during the 4th quarter worth $1,202,000. Finally, Handelsbanken Fonder AB acquired a new stake in shares of Plug Power during the 4th quarter worth $3,915,000. 43.48% of the stock is currently owned by institutional investors and hedge funds.

Plug Power Company Profile

Plug Power Inc is a U.S.-based company specializing in the design and manufacture of hydrogen fuel cell systems that serve as clean energy replacements for conventional batteries in electric vehicles and material handling equipment. Its core solutions include ProGen fuel cell engines, GenDrive power systems for forklifts and warehouse vehicles, and GenFuel hydrogen refueling infrastructure. These offerings are sold as standalone components or integrated turnkey solutions under the GenKey brand, providing customers with on-site refueling, equipment installation and maintenance services.

In addition to its fuel cell and refueling products, Plug Power develops backup power and off-grid energy solutions through its GenSure line, which targets telecommunications, data centers and utility applications.