Craig Hallum Lowers Plug Power (NASDAQ:PLUG) Price Target to $3.00

Plug Power (NASDAQ:PLUG) had its price target cut by Craig Hallum from $4.00 to $3.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have a buy rating on the electronics maker’s stock.

Several other equities research analysts have also issued reports on PLUG. Evercore ISI reduced their target price on shares of Plug Power from $5.00 to $4.00 and set an “outperform” rating for the company in a report on Wednesday, November 13th. Royal Bank of Canada decreased their price objective on shares of Plug Power from $3.50 to $2.50 and set a “sector perform” rating on the stock in a research report on Monday, August 12th. BTIG Research cut shares of Plug Power from a “buy” rating to a “neutral” rating in a research note on Thursday. Jefferies Financial Group cut their price target on Plug Power from $2.20 to $2.00 and set a “hold” rating for the company in a research note on Thursday, October 3rd. Finally, Piper Sandler lowered their price objective on Plug Power from $1.60 to $1.40 and set an “underweight” rating on the stock in a research report on Thursday. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $4.52.

Plug Power Trading Down 5.1 %

Shares of Plug Power stock opened at $1.87 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.08 and a quick ratio of 0.91. The stock has a market capitalization of $1.70 billion, a PE ratio of -0.87 and a beta of 1.81. Plug Power has a 1-year low of $1.60 and a 1-year high of $5.14. The company’s fifty day simple moving average is $2.08 and its 200-day simple moving average is $2.40.

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

Institutional Investors Weigh In On Plug Power

Large investors have recently added to or reduced their stakes in the stock. SteelPeak Wealth LLC bought a new position in shares of Plug Power during the 2nd quarter valued at approximately $26,000. Nations Financial Group Inc. IA ADV purchased a new stake in shares of Plug Power in the second quarter valued at $26,000. Aire Advisors LLC bought a new stake in shares of Plug Power in the 2nd quarter worth about $28,000. Madison Park Capital Advisors LLC bought a new stake in shares of Plug Power in the 2nd quarter worth about $29,000. Finally, Profund Advisors LLC purchased a new position in shares of Plug Power during the 2nd quarter worth about $29,000. 43.48% of the stock is owned by institutional investors.

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.