Plug Power (NASDAQ:PLUG - Get Free Report) had its price objective lowered by B. Riley from $4.00 to $3.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the electronics maker's stock. B. Riley's price target indicates a potential upside of 68.54% from the stock's previous close. B. Riley also issued estimates for Plug Power's Q4 2024 earnings at ($0.25) EPS, FY2024 earnings at ($1.27) EPS, Q1 2025 earnings at ($0.21) EPS, Q2 2025 earnings at ($0.15) EPS, Q3 2025 earnings at ($0.11) EPS, Q4 2025 earnings at ($0.10) EPS, FY2025 earnings at ($0.56) EPS, FY2025 earnings at ($0.60) EPS, FY2026 earnings at ($0.41) EPS and FY2026 earnings at ($0.35) EPS.
Several other analysts have also issued reports on PLUG. HC Wainwright dropped their price target on shares of Plug Power from $5.00 to $3.00 and set a "buy" rating on the stock in a research report on Wednesday. BTIG Research lowered shares of Plug Power from a "buy" rating to a "neutral" rating in a research report on Thursday, November 14th. Wells Fargo & Company dropped their price target on shares of 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. Canaccord Genuity Group dropped their price target on shares of Plug Power from $2.50 to $2.25 and set a "hold" rating on the stock in a research report on Wednesday, November 13th. Finally, Evercore ISI decreased their price objective on shares of Plug Power from $5.00 to $4.00 and set an "outperform" rating on the stock in a report on Wednesday, November 13th. Six investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $2.34.
Check Out Our Latest Report on PLUG
Plug Power Stock Up 7.9 %
Shares of PLUG stock traded up $0.13 during trading on Wednesday, reaching $1.78. The company's stock had a trading volume of 73,303,360 shares, compared to its average volume of 68,526,250. The business has a fifty day moving average price of $2.05 and a 200-day moving average price of $2.10. The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15. The company has a market cap of $1.65 billion, a price-to-earnings ratio of -0.83 and a beta of 1.98. Plug Power has a one year low of $1.37 and a one year high of $4.90.
Hedge Funds Weigh In On Plug Power
Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Plug Power by 5.4% in the fourth quarter. Vanguard Group Inc. now owns 87,438,503 shares of the electronics maker's stock valued at $186,244,000 after acquiring an additional 4,491,114 shares in the last quarter. Norges Bank acquired a new stake in Plug Power during the fourth quarter worth about $146,465,000. Geode Capital Management LLC grew its stake in Plug Power by 3.8% during the fourth quarter. Geode Capital Management LLC now owns 19,917,268 shares of the electronics maker's stock worth $42,434,000 after buying an additional 722,639 shares in the last quarter. Legal & General Group Plc grew its stake in Plug Power by 8.5% during the fourth quarter. Legal & General Group Plc now owns 10,141,849 shares of the electronics maker's stock worth $21,602,000 after buying an additional 796,774 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Plug Power by 11.1% during the fourth quarter. Northern Trust Corp now owns 7,907,687 shares of the electronics maker's stock worth $16,843,000 after buying an additional 790,650 shares in the last quarter. 43.48% of the stock is currently owned by institutional investors and hedge funds.
About Plug Power
(
Get Free Report)
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.
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