Plug Power (NASDAQ:PLUG – Free Report) had its price objective trimmed by Canaccord Genuity Group from $3.00 to $2.50 in a report released on Monday, Benzinga reports. The firm currently has a hold rating on the electronics maker’s stock.
PLUG has been the topic of several other research reports. Susquehanna dropped their price target on Plug Power from $3.50 to $3.00 and set a neutral rating on the stock in a research note on Friday, May 10th. Craig Hallum cut their target price on Plug Power from $5.00 to $4.00 and set a buy rating on the stock in a research note on Friday, August 9th. TD Cowen decreased their price target on shares of Plug Power from $7.00 to $5.00 and set a buy rating for the company in a research note on Friday, May 10th. Morgan Stanley cut their price objective on shares of Plug Power from $3.00 to $2.50 and set an underweight rating on the stock in a research report on Friday, May 10th. Finally, Wells Fargo & Company lowered their price target on shares of Plug Power from $4.00 to $3.00 and set an equal weight rating on the stock in a research note on Friday, August 9th. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $5.19.
Read Our Latest Stock Analysis on PLUG
Plug Power Stock Down 5.6 %
Plug Power (NASDAQ:PLUG – Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The electronics maker reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.06). The business had revenue of $143.40 million during the quarter, compared to analyst estimates of $184.54 million. Plug Power had a negative net margin of 216.80% and a negative return on equity of 47.51%. Plug Power’s revenue for the quarter was down 44.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.35) earnings per share. As a group, equities analysts expect that Plug Power will post -1.1 earnings per share for the current year.
Institutional Investors Weigh In On Plug Power
Institutional investors have recently made changes to their positions in the company. Independent Advisor Alliance acquired a new stake in Plug Power during the 4th quarter worth approximately $45,000. Mosley Wealth Management acquired a new stake in shares of Plug Power during the first quarter worth $35,000. J.W. Cole Advisors Inc. bought a new stake in shares of Plug Power in the first quarter valued at about $36,000. HighPoint Advisor Group LLC acquired a new position in shares of Plug Power in the fourth quarter valued at about $48,000. Finally, HBK Sorce Advisory LLC bought a new position in Plug Power during the first quarter worth about $37,000. Institutional investors 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.
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