Jefferies Financial Group Lowers Plug Power (NASDAQ:PLUG) Price Target to $2.00

Plug Power (NASDAQ:PLUG) had its target price cut by equities research analysts at Jefferies Financial Group from $2.20 to $2.00 in a report released on Thursday, Benzinga reports. The firm presently has a “hold” rating on the electronics maker’s stock. Jefferies Financial Group’s price objective would suggest a potential downside of 6.98% from the company’s current price.

Several other research firms have also recently weighed in on PLUG. Piper Sandler cut their price objective on Plug Power from $2.50 to $2.40 and set an “underweight” rating for the company in a research report on Monday, July 22nd. Truist Financial reduced their price objective on Plug Power from $3.00 to $2.00 and set a “hold” rating for the company in a research report on Monday, August 12th. Susquehanna dropped their target price on shares of Plug Power from $3.00 to $2.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. Wells Fargo & Company reduced their price target on shares of Plug Power from $4.00 to $3.00 and set an “equal weight” rating for the company in a report on Friday, August 9th. Finally, Craig Hallum dropped their price objective on shares of Plug Power from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Friday, August 9th. 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $5.01.

Plug Power Trading Up 4.4 %

Shares of PLUG stock opened at $2.15 on Thursday. Plug Power has a 12 month low of $1.60 and a 12 month high of $7.90. The company has a market cap of $1.60 billion, a PE ratio of -0.90 and a beta of 1.79. The company has a quick ratio of 0.91, a current ratio of 2.07 and a debt-to-equity ratio of 0.16. The business’s 50 day moving average is $2.07 and its two-hundred day moving average is $2.60.

Plug Power (NASDAQ:PLUG) last posted its earnings results on Thursday, August 8th. The electronics maker reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.06). The firm 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%. The business’s quarterly revenue was down 44.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.35) earnings per share. Equities analysts predict that Plug Power will post -1.15 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. SteelPeak Wealth LLC bought a new position in shares of Plug Power in the second quarter valued at approximately $26,000. Nations Financial Group Inc. IA ADV acquired a new position in Plug Power in the second quarter worth $26,000. Aire Advisors LLC acquired a new position in Plug Power in the second quarter worth $28,000. Madison Park Capital Advisors LLC bought a new stake in shares of Plug Power during the second quarter worth $29,000. Finally, Profund Advisors LLC acquired a new stake in shares of Plug Power in the second quarter valued at $29,000. 43.48% of the stock is owned by institutional investors.

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.