Plug Power (NASDAQ:PLUG) Price Target Cut to $3.00 by Analysts at HC Wainwright

Plug Power (NASDAQ:PLUG - Get Free Report) had its target price reduced by HC Wainwright from $5.00 to $3.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the electronics maker's stock. HC Wainwright's target price would suggest a potential upside of 68.54% from the company's current price. HC Wainwright also issued estimates for Plug Power's Q1 2025 earnings at ($0.25) EPS, Q2 2025 earnings at ($0.22) EPS, Q3 2025 earnings at ($0.19) EPS, Q4 2025 earnings at ($0.15) EPS, FY2025 earnings at ($0.81) EPS, FY2026 earnings at ($0.59) EPS, FY2027 earnings at ($0.55) EPS, FY2028 earnings at ($0.46) EPS and FY2029 earnings at ($0.34) EPS.

PLUG has been the topic of a number of other reports. BTIG Research downgraded shares of Plug Power from a "buy" rating to a "neutral" rating in a research report on Thursday, November 14th. Piper Sandler dropped their price target on shares of Plug Power from $1.60 to $1.40 and set an "underweight" rating on the stock in a report on Thursday, November 14th. Canaccord Genuity Group lowered their price objective on shares of Plug Power from $2.50 to $2.25 and set a "hold" rating on the stock in a research note on Wednesday, November 13th. Evercore ISI decreased their target price on shares of Plug Power from $5.00 to $4.00 and set an "outperform" rating on the stock in a research note on Wednesday, November 13th. Finally, Craig Hallum decreased their target price on shares of Plug Power from $4.00 to $3.00 and set a "buy" rating on the stock in a research note on Thursday, November 14th. Six equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $2.34.

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Plug Power Trading Up 7.9 %

NASDAQ:PLUG traded up $0.13 during midday trading on Wednesday, reaching $1.78. 73,303,360 shares of the stock traded hands, compared to its average volume of 68,526,250. The company has a fifty day moving average of $2.05 and a 200 day moving average of $2.10. Plug Power has a 12 month low of $1.37 and a 12 month high of $4.90. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 2.08. The stock has a market capitalization of $1.65 billion, a P/E ratio of -0.83 and a beta of 1.98.

Institutional Trading of Plug Power

Several institutional investors and hedge funds have recently made changes to their positions in PLUG. Pacific Sage Partners LLC bought a new stake in shares of Plug Power during the fourth quarter worth $25,000. Oppenheimer & Co. Inc. bought a new stake in shares of Plug Power during the fourth quarter worth $25,000. Jones Financial Companies Lllp lifted its position in shares of Plug Power by 107.4% during the fourth quarter. Jones Financial Companies Lllp now owns 11,730 shares of the electronics maker's stock worth $25,000 after purchasing an additional 6,074 shares during the last quarter. Callan Family Office LLC bought a new stake in shares of Plug Power in the fourth quarter valued at about $27,000. Finally, Ground Swell Capital LLC bought a new stake in shares of Plug Power in the fourth quarter valued at about $27,000. 43.48% of the stock is currently 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.