Plug Power (NASDAQ:PLUG – Free Report) Craig Hallum lowered his price target from $5.00 to $4.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently recommends the electronics manufacturer’s stock as a “buy.”
Several other equities analysts also recently commented on the company. Piper Sandler lowered their price target on Plug Power from $2.50 to $2.40 and gave the company an underweight rating in a research report on Monday, July 22nd. Morgan Stanley lowered their price target on Plug Power from $3.00 to $2.50 and gave the company an underweight rating in a research report on Friday, May 10th. HC Wainwright reiterated a buy rating and issued a $18.00 price target on shares of Plug Power in a report on Tuesday, May 14th. Susquehanna lowered their price target on shares of Plug Power from $3.50 to $3.00 and gave the company a neutral rating in a report on Friday, May 10th. Finally, B. Riley upgraded shares of Plug Power to a strong buy rating in a research note on Tuesday, June 25th. Four analysts have rated the stock as a “sell,” fifteen have rated it as a “hold,” seven have rated it as a “buy,” and one has rated it as a “strong buy.” Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.39.
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Plug power Price Performance
Plug Power stock opened at $1.97 on Friday. The company has a market cap of $1.46 billion, a P/E ratio of -0.82 and a beta of 1.81. Plug Power has a 52-week low of $1.93 and a 52-week high of $9.77. The company’s 50-day moving average is $2.61 and its 200-day moving average is $3.08. The company has a quick ratio of 0.87, a current ratio of 1.94 and a debt-to-equity ratio of 0.17.
Plug Power (NASDAQ:PLUG – Free Report) last announced its quarterly earnings results on Thursday, August 8. The electronics maker reported earnings per share (EPS) of -$0.36 for the quarter, missing the consensus estimate of -$0.30 by -$0.06. Plug Power had a negative net margin of 181.96% and a negative return on equity of 43.10%. The company posted revenue of $143.40 million for the quarter, compared to analyst expectations of $184.54 million. During the same period last year, the company posted earnings per share of -$0.35. The company’s revenue for the quarter declined 44.9% year-over-year. On average, equities analysts forecast that Plug Power will post earnings per share of -$1.1 for the current fiscal year.
Institutional investors comment on Plug Power
Several large investors have recently made changes to their positions in the company. Norges Bank acquired a new stake in Plug Power in the 4th quarter valued at $97,800,000. State Board of Administration of Florida Retirement System increased its holdings in shares of Plug Power by 5.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 600,188 shares of the electronics maker’s stock valued at $2,065,000 after buying an additional 33,311 shares in the last quarter. Rafferty Asset Management LLC increased its holdings in shares of Plug Power by 69.5% in the 4th quarter. Rafferty Asset Management LLC now owns 359,537 shares of the electronics maker’s stock valued at $1,618,000 after buying an additional 147,435 shares during the same period. State of New Jersey Common Pension Fund D increased its holdings in Plug Power by 104.9% in the 4th 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 acquiring an additional 333,708 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Plug Power by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,374,782 shares of the electronics maker’s stock valued at $15,187,000 after acquiring an additional 102,095 shares during the same period. Institutional investors and hedge funds own 43.48% of the company’s stock.
Plug Power Company Profile
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Plug Power Inc develops hydrogen and fuel cell product solutions in North America, Europe, Asia and internationally. The Company offers GenDrive, a hydrogen-powered proton exchange membrane (PEM) fuel cell system that powers electric industrial trucks; GenSure, a stationary fuel cell solution that provides modular PEM fuel cell power to support the backup power and grid support requirements of the telecommunications, transportation and utility sectors; ProGen, a fuel cell stack and motor technology used in mobility and stationary fuel cell systems and as motors in electric delivery trucks; GenFuel, a system for the delivery, generation, storage and dispensing of liquid hydrogen; 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, a complete integrated solution for the transition to fuel cell power.
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