Craig Hallum Issues Pessimistic Forecast for Plug Power (NASDAQ:PLUG) Stock Price

Plug Power (NASDAQ:PLUG) had its price objective reduced by Craig Hallum from $4.00 to $3.00 in a research report report published on Thursday morning,Benzinga reports. Craig Hallum currently has a buy rating on the electronics maker’s stock.

Other equities research analysts have also recently issued reports about the company. Evercore ISI lowered their target price on Plug Power from $5.00 to $4.00 and set an “outperform” rating for the company in a report on Wednesday, November 13th. Jefferies Financial Group dropped their target price on shares of Plug Power from $2.20 to $2.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Susquehanna reduced their price target on shares of Plug Power from $3.00 to $2.00 and set a “neutral” rating for the company in a report on Monday, August 12th. Canaccord Genuity Group dropped their price objective on shares of Plug Power from $2.50 to $2.25 and set a “hold” rating on the stock in a research note on Wednesday, November 13th. Finally, HC Wainwright reissued a “buy” rating and set a $18.00 price objective on shares of Plug Power in a report on Wednesday, November 13th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Plug Power has an average rating of “Hold” and an average target price of $4.52.

Plug Power Trading Down 5.1 %

NASDAQ PLUG opened at $1.87 on Thursday. The stock has a market cap of $1.70 billion, a PE ratio of -0.87 and a beta of 1.81. Plug Power has a 12 month low of $1.60 and a 12 month high of $5.14. The company’s 50-day moving average price is $2.08 and its 200-day moving average price is $2.40. The company has a current ratio of 2.08, a quick ratio of 0.91 and a debt-to-equity ratio of 0.15.

Plug Power (NASDAQ:PLUG) last issued its earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. The company had revenue of $173.70 million during the quarter, compared to the consensus estimate of $207.25 million. During the same quarter in the prior year, the company earned ($0.47) earnings per share. Plug Power’s revenue was down 12.6% on a year-over-year basis. Equities research analysts forecast that Plug Power will post -1.2 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PLUG. SteelPeak Wealth LLC acquired a new stake in shares of Plug Power during the second quarter worth $26,000. Nations Financial Group Inc. IA ADV acquired a new stake in Plug Power during the 2nd quarter worth about $26,000. Aire Advisors LLC purchased a new stake in Plug Power during the 2nd quarter valued at about $28,000. Madison Park Capital Advisors LLC acquired a new position in shares of Plug Power in the second quarter valued at about $29,000. Finally, Profund Advisors LLC purchased a new position in shares of Plug Power in the second quarter worth about $29,000. Institutional investors and hedge funds own 43.48% of the company’s stock.

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.