Plug Power (NASDAQ:PLUG) Price Target Lowered to $3.00 at B. Riley

Plug Power (NASDAQ:PLUG) had its price target decreased by B. Riley from $4.00 to $3.00 in a research report sent to investors on Wednesday morning,Benzinga reports. B. Riley currently has a buy rating on the electronics maker’s stock. B. Riley also issued estimates for Plug Power’s Q4 2024 earnings at ($0.25) EPS, FY2024 earnings at ($1.27) EPS, FY2025 earnings at ($0.60) EPS and FY2026 earnings at ($0.41) EPS.

Several other brokerages have also recently commented on PLUG. BMO Capital Markets lowered their target price on shares of Plug Power from $1.60 to $1.40 and set an “underperform” rating on the stock in a report on Wednesday. Craig Hallum decreased their price objective on shares of Plug Power from $4.00 to $3.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. StockNews.com raised shares of Plug Power to a “sell” rating in a research note on Tuesday. Susquehanna decreased their price objective on shares of Plug Power from $2.50 to $1.80 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Seaport Res Ptn cut shares of Plug Power from a “hold” rating to a “strong sell” rating in a research note on Monday, January 27th. Six analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $2.40.

Plug Power Stock Up 4.3 %

Shares of PLUG opened at $1.69 on Wednesday. Plug Power has a 12 month low of $1.37 and a 12 month high of $4.90. The firm’s 50 day moving average is $2.09 and its 200-day moving average is $2.11. The stock has a market capitalization of $1.54 billion, a PE ratio of -0.79 and a beta of 1.79. The company has a current ratio of 2.08, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15.

Institutional Trading of Plug Power

A number of hedge funds have recently added to or reduced their stakes in PLUG. Oppenheimer & Co. Inc. acquired a new position in shares of Plug Power during the fourth quarter worth $25,000. Pacific Sage Partners LLC acquired a new position in shares of Plug Power during the fourth quarter worth $25,000. Jones Financial Companies Lllp lifted its holdings in shares of Plug Power by 107.4% during the fourth quarter. Jones Financial Companies Lllp now owns 11,730 shares of the electronics maker’s stock worth $25,000 after purchasing an additional 6,074 shares during the period. Callan Family Office LLC acquired a new position in shares of Plug Power during the fourth quarter worth $27,000. Finally, Ground Swell Capital LLC acquired a new position in shares of Plug Power during the fourth quarter worth $27,000. 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.