Plug Power (NASDAQ:PLUG) PT Lowered to $4.00

Plug Power (NASDAQ:PLUG) had its price objective decreased by investment analysts at Craig Hallum from $5.00 to $4.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the electronics maker’s stock. Craig Hallum’s price target points to a potential upside of 103.05% from the company’s current price.

A number of other research analysts have also recently commented on PLUG. HC Wainwright reaffirmed a “buy” rating and set a $18.00 price target on shares of Plug Power in a research report on Tuesday, May 14th. Susquehanna cut their price objective on shares of Plug Power from $3.50 to $3.00 and set a “neutral” rating for the company in a report on Friday, May 10th. Morgan Stanley dropped their target price on Plug Power from $3.00 to $2.50 and set an “underweight” rating on the stock in a research report on Friday, May 10th. Piper Sandler decreased their price objective on Plug Power from $2.50 to $2.40 and set an “underweight” rating on the stock in a research note on Monday, July 22nd. Finally, TD Cowen decreased their target price on shares of Plug Power from $7.00 to $5.00 and set a “buy” rating on the stock in a report on Friday, May 10th. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $5.39.

Plug Power Stock Performance

NASDAQ:PLUG traded down $0.11 during trading on Friday, reaching $1.97. The company’s stock had a trading volume of 37,094,800 shares, compared to its average volume of 45,062,500. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of -0.82 and a beta of 1.81. Plug Power has a 12 month low of $1.93 and a 12 month high of $9.77. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.87 and a current ratio of 1.94. The firm has a 50 day moving average of $2.61 and a 200-day moving average of $3.09.

Plug Power (NASDAQ:PLUG) last announced its quarterly earnings data on Thursday, August 8th. The electronics maker reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.06). Plug Power had a negative return on equity of 43.10% and a negative net margin of 181.96%. The company had revenue of $143.40 million during the quarter, compared to the consensus estimate of $184.54 million. During the same period in the prior year, the firm posted ($0.35) EPS. The business’s revenue was down 44.9% on a year-over-year basis. Research analysts expect that Plug Power will post -1.1 EPS for the current fiscal year.

Institutional Investors Weigh In On Plug Power

A number of hedge funds and other institutional investors have recently modified their holdings of PLUG. SteelPeak Wealth LLC purchased a new position in Plug Power in the 2nd quarter worth approximately $26,000. Nations Financial Group Inc. IA ADV purchased a new position in shares of Plug Power in the second quarter worth $26,000. Aire Advisors LLC bought a new stake in Plug Power during the 2nd quarter valued at $28,000. Madison Park Capital Advisors LLC purchased a new position in shares of Plug Power in the second quarter valued at about $29,000. Finally, Meeder Advisory Services Inc. bought a new position in shares of Plug Power during the second quarter valued at about $34,000. Institutional investors own 43.48% of the company’s stock.

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.