Plug Power (NASDAQ:PLUG) Given New $4.00 Price Target at Evercore ISI

Plug Power (NASDAQ:PLUG - Get Free Report) had its price objective decreased by research analysts at Evercore ISI from $5.00 to $4.00 in a report released on Wednesday,Benzinga reports. The firm presently has an "outperform" rating on the electronics maker's stock. Evercore ISI's target price suggests a potential upside of 103.05% from the stock's previous close.

Other research analysts have also issued research reports about the company. Susquehanna dropped their target price on Plug Power from $3.00 to $2.00 and set a "neutral" rating on the stock in a report on Monday, August 12th. Jefferies Financial Group cut their price objective on shares of Plug Power from $2.20 to $2.00 and set a "hold" rating for the company in a research report on Thursday, October 3rd. HC Wainwright restated a "buy" rating and issued a $18.00 target price on shares of Plug Power in a research note on Wednesday. Royal Bank of Canada dropped their price target on shares of Plug Power from $3.50 to $2.50 and set a "sector perform" rating on the stock in a research note on Monday, August 12th. Finally, Truist Financial reduced their price objective on shares of Plug Power from $3.00 to $2.00 and set a "hold" rating for the company in a research report on Monday, August 12th. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $4.75.

Plug Power Stock Performance

Shares of PLUG traded up $0.06 during midday trading on Wednesday, reaching $1.97. 72,265,812 shares of the stock were exchanged, compared to its average volume of 40,942,211. Plug Power has a twelve month low of $1.60 and a twelve month high of $5.14. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.07 and a quick ratio of 0.91. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of -0.92 and a beta of 1.81. The business's 50-day moving average price is $2.06 and its 200 day moving average price is $2.41.

Plug Power (NASDAQ:PLUG - Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.01). The firm had revenue of $173.70 million for the quarter, compared to analyst estimates of $207.25 million. Plug Power had a negative return on equity of 47.36% and a negative net margin of 214.05%. The company's quarterly revenue was down 12.6% on a year-over-year basis. During the same period last year, the firm earned ($0.47) EPS. On average, sell-side analysts expect that Plug Power will post -1.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Plug Power

Hedge funds have recently modified their holdings of the company. HBK Sorce Advisory LLC purchased a new position in shares of Plug Power during the 1st quarter worth about $37,000. Nations Financial Group Inc. IA ADV purchased a new position in Plug Power during the second quarter worth approximately $26,000. SteelPeak Wealth LLC acquired a new position in shares of Plug Power in the 2nd quarter valued at $26,000. Aire Advisors LLC purchased a new stake in shares of Plug Power during the 2nd quarter valued at $28,000. Finally, Madison Park Capital Advisors LLC purchased a new stake in shares of Plug Power during the 2nd quarter valued at $29,000. 43.48% of the stock is owned by institutional investors and hedge funds.

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.