Susquehanna Trims Plug Power (NASDAQ:PLUG) Target Price to $3.00

Plug Power (NASDAQ:PLUGFree Report) had its price objective cut by Susquehanna from $3.50 to $3.00 in a report published on Friday, Benzinga reports. They currently have a neutral rating on the electronics maker’s stock.

Other research analysts have also issued reports about the company. B. Riley dropped their target price on Plug Power from $18.00 to $8.00 and set a buy rating on the stock in a research report on Wednesday, January 24th. Piper Sandler decreased their target price on shares of Plug Power from $2.90 to $2.50 and set an underweight rating for the company in a research report on Friday. Royal Bank of Canada cut their price target on shares of Plug Power from $5.00 to $3.50 and set a sector perform rating on the stock in a report on Wednesday, January 24th. Roth Mkm raised shares of Plug Power from a neutral rating to a buy rating and increased their target price for the stock from $4.50 to $9.00 in a research report on Wednesday, January 31st. Finally, Roth Capital raised Plug Power from a neutral rating to a buy rating in a research note on Wednesday, January 31st. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $5.90.

Check Out Our Latest Research Report on PLUG

Plug Power Stock Up 10.9 %

NASDAQ:PLUG traded up $0.28 during trading hours on Friday, hitting $2.84. 46,463,917 shares of the stock traded hands, compared to its average volume of 39,891,777. The firm has a 50 day moving average price of $3.06 and a 200 day moving average price of $3.81. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of -1.21 and a beta of 1.64. The company has a current ratio of 1.94, a quick ratio of 0.87 and a debt-to-equity ratio of 0.17. Plug Power has a fifty-two week low of $2.25 and a fifty-two week high of $13.44.

Plug Power (NASDAQ:PLUGGet Free Report) last posted its quarterly earnings results on Friday, March 1st. The electronics maker reported ($1.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.52). The company had revenue of $222.20 million during the quarter, compared to analysts’ expectations of $234.21 million. Plug Power had a negative return on equity of 43.10% and a negative net margin of 181.96%. Plug Power’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period last year, the company earned ($0.38) earnings per share. Equities research analysts anticipate that Plug Power will post -0.94 earnings per share for the current year.

Institutional Trading of Plug Power

Large investors have recently made changes to their positions in the company. Millburn Ridgefield Corp acquired a new position in Plug Power in the third quarter valued at about $29,000. Mosley Wealth Management acquired a new position in shares of Plug Power in the 1st quarter valued at approximately $35,000. J.W. Cole Advisors Inc. bought a new stake in Plug Power during the 1st quarter worth approximately $36,000. HBK Sorce Advisory LLC acquired a new stake in Plug Power during the 1st quarter worth approximately $37,000. Finally, FAS Wealth Partners Inc. bought a new position in Plug Power in the fourth quarter valued at approximately $45,000. Institutional investors own 43.48% of the company’s stock.

About Plug Power

(Get Free Report)

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.

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