Plug Power (NASDAQ:PLUG) Given New $1.40 Price Target at Piper Sandler

Plug Power (NASDAQ:PLUG - Get Free Report) had its price target cut by analysts at Piper Sandler from $1.60 to $1.40 in a research note issued on Thursday,Benzinga reports. The firm currently has an "underweight" rating on the electronics maker's stock. Piper Sandler's price objective indicates a potential downside of 28.93% from the company's previous close.

PLUG has been the subject of several other research reports. HC Wainwright reaffirmed a "buy" rating and set a $18.00 price target on shares of Plug Power in a research note on Wednesday. Susquehanna cut their price target on Plug Power from $3.00 to $2.00 and set a "neutral" rating on the stock in a report on Monday, August 12th. Craig Hallum cut their target price on Plug Power from $5.00 to $4.00 and set a "buy" rating on the stock in a research note on Friday, August 9th. BTIG Research cut shares of Plug Power from a "buy" rating to a "neutral" rating in a report on Thursday. Finally, Royal Bank of Canada lowered their target price on shares of Plug Power from $3.50 to $2.50 and set a "sector perform" rating for the company in a research note on Monday, August 12th. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $4.60.

Plug Power Stock Performance

Shares of PLUG stock remained flat at $1.97 during trading hours on Thursday. 80,696,231 shares of the stock were exchanged, compared to its average volume of 41,123,715. Plug Power has a 52-week low of $1.60 and a 52-week high of $5.14. The company has a current ratio of 2.07, a quick ratio of 0.91 and a debt-to-equity ratio of 0.16. The business has a 50 day moving average of $2.07 and a two-hundred day moving average of $2.41. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of -0.92 and a beta of 1.81.

Plug Power (NASDAQ:PLUG - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.01). Plug Power had a negative net margin of 214.05% and a negative return on equity of 47.36%. The company had revenue of $173.70 million during the quarter, compared to the consensus estimate of $207.25 million. During the same quarter in the prior year, the firm posted ($0.47) earnings per share. The business's revenue was down 12.6% on a year-over-year basis. Equities research analysts forecast that Plug Power will post -1.16 EPS for the current year.

Institutional Trading of Plug Power

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