Plug Power (NASDAQ:PLUG) Given New $2.50 Price Target at Susquehanna

Plug Power (NASDAQ:PLUG) had its target price raised by Susquehanna from $2.00 to $2.50 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a neutral rating on the electronics maker’s stock.

A number of other analysts have also recently commented on PLUG. Craig Hallum cut their price target on shares of Plug Power from $4.00 to $3.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Wells Fargo & Company cut their target price on Plug Power from $3.00 to $2.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 14th. Piper Sandler lowered their target price on Plug Power from $1.60 to $1.40 and set an “underweight” 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, Canaccord Genuity Group lowered their price objective on shares of Plug Power from $2.50 to $2.25 and set a “hold” rating for the company in a research note on Wednesday, November 13th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Plug Power presently has an average rating of “Hold” and an average price target of $4.55.

Plug Power Price Performance

Shares of PLUG opened at $2.74 on Thursday. The business has a 50-day moving average of $2.32 and a 200-day moving average of $2.25. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.08 and a quick ratio of 0.95. The company has a market capitalization of $2.50 billion, a price-to-earnings ratio of -1.28 and a beta of 1.79. Plug Power has a 1 year low of $1.60 and a 1 year high of $5.14.

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

Institutional Trading of Plug Power

Institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC boosted its holdings in Plug Power by 23.6% during the third quarter. Geode Capital Management LLC now owns 19,194,629 shares of the electronics maker’s stock worth $43,388,000 after purchasing an additional 3,662,456 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Plug Power by 25.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,637,039 shares of the electronics maker’s stock valued at $15,000,000 after acquiring an additional 1,354,500 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Plug Power by 23.6% during the third quarter. Van ECK Associates Corp now owns 4,232,001 shares of the electronics maker’s stock valued at $8,803,000 after acquiring an additional 809,187 shares during the last quarter. Vontobel Holding Ltd. lifted its holdings in Plug Power by 44.3% during the third quarter. Vontobel Holding Ltd. now owns 3,426,354 shares of the electronics maker’s stock worth $7,744,000 after acquiring an additional 1,051,400 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position in Plug Power by 24.5% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,421,222 shares of the electronics maker’s stock worth $5,472,000 after purchasing an additional 476,060 shares during the last quarter. Hedge funds and other 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.