Plug Power (NASDAQ:PLUG) Price Target Raised to $2.50

Plug Power (NASDAQ:PLUG) had its target price raised by investment analysts at Susquehanna from $2.00 to $2.50 in a report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the electronics maker’s stock. Susquehanna’s price target would suggest a potential downside of 7.41% from the company’s current price.

Other analysts have also issued research reports about the stock. Craig Hallum lowered their target price on shares of Plug Power from $4.00 to $3.00 and set a “buy” rating for the company in a report on Thursday, November 14th. Canaccord Genuity Group decreased their price objective on Plug Power from $2.50 to $2.25 and set a “hold” rating for the company in a research note on Wednesday, November 13th. Wells Fargo & Company dropped their price objective on Plug Power from $3.00 to $2.00 and set an “equal weight” rating for the company in a report on Thursday, November 14th. BTIG Research cut Plug Power from a “buy” rating to a “neutral” rating in a report on Thursday, November 14th. Finally, Jefferies Financial Group lowered their price target on Plug Power from $2.20 to $2.00 and set a “hold” rating for the company in a research note on Thursday, October 3rd. Four analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Plug Power presently has an average rating of “Hold” and a consensus target price of $4.55.

Plug Power Trading Down 0.4 %

Shares of PLUG stock traded down $0.01 on Thursday, reaching $2.70. 65,470,250 shares of the stock were exchanged, compared to its average volume of 80,204,109. The stock has a 50 day moving average price of $2.32 and a 200 day moving average price of $2.25. The stock has a market cap of $2.46 billion, a PE ratio of -1.26 and a beta of 1.79. Plug Power has a one year low of $1.60 and a one year high of $5.14. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.08 and a quick ratio of 0.95.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Profund Advisors LLC bought a new stake in Plug Power in the 2nd quarter valued at approximately $29,000. Prio Wealth Limited Partnership acquired a new stake in shares of Plug Power in the third quarter valued at approximately $29,000. Catalyst Capital Advisors LLC raised its holdings in shares of Plug Power by 79.9% in the third quarter. Catalyst Capital Advisors LLC now owns 12,681 shares of the electronics maker’s stock valued at $29,000 after purchasing an additional 5,631 shares during the last quarter. Millburn Ridgefield Corp lifted its position in shares of Plug Power by 79.9% in the third quarter. Millburn Ridgefield Corp now owns 12,681 shares of the electronics maker’s stock worth $29,000 after purchasing an additional 5,631 shares in the last quarter. Finally, First Commonwealth Financial Corp PA acquired a new position in Plug Power during the third quarter worth $29,000. 43.48% of the stock is currently owned by institutional investors.

About Plug Power

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.