Plug Power (NASDAQ:PLUG) Price Target Raised to $2.50 at Susquehanna

Plug Power (NASDAQ:PLUG - Free Report) had its target price raised by Susquehanna from $2.00 to $2.50 in a report released on Thursday morning,Benzinga reports. They currently have a neutral rating on the electronics maker's stock.

A number of other equities analysts also recently commented on the company. Wells Fargo & Company lowered their price objective on Plug Power from $3.00 to $2.00 and set an "equal weight" rating for the company in a research report on Thursday, November 14th. HC Wainwright reiterated a "buy" rating and set a $18.00 price target on shares of Plug Power in a report on Wednesday, November 13th. Canaccord Genuity Group reduced their price objective on shares of Plug Power from $2.50 to $2.25 and set a "hold" rating on the stock in a report on Wednesday, November 13th. Evercore ISI dropped their target price on Plug Power from $5.00 to $4.00 and set an "outperform" rating on the stock in a report on Wednesday, November 13th. Finally, Piper Sandler decreased their price target on Plug Power from $1.60 to $1.40 and set an "underweight" rating for the company in a report on Thursday, November 14th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $4.55.

Plug Power Stock Down 10.0 %

PLUG stock traded down $0.28 during midday trading on Thursday, hitting $2.47. The company's stock had a trading volume of 82,800,678 shares, compared to its average volume of 82,189,852. The firm has a 50-day simple moving average of $2.33 and a 200-day simple moving average of $2.25. The firm has a market capitalization of $2.25 billion, a P/E ratio of -1.15 and a beta of 1.79. The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15. Plug Power has a 52-week low of $1.60 and a 52-week high of $5.14.

Plug Power (NASDAQ:PLUG - Get Free Report) last released its 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 46.99%. The company had revenue of $173.70 million during the quarter, compared to analysts' expectations of $207.25 million. During the same quarter last year, the business posted ($0.47) earnings per share. The company's revenue for the quarter was down 12.6% on a year-over-year basis. As a group, equities analysts forecast that Plug Power will post -1.2 EPS for the current year.

Hedge Funds Weigh In On Plug Power

Several hedge funds have recently bought and sold shares of the stock. Profund Advisors LLC acquired a new stake in shares of Plug Power during the second quarter valued at $29,000. Prio Wealth Limited Partnership purchased a new position in Plug Power in the 3rd quarter valued at about $29,000. Catalyst Capital Advisors LLC boosted its stake in shares of Plug Power by 79.9% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 12,681 shares of the electronics maker's stock worth $29,000 after purchasing an additional 5,631 shares during the last quarter. Millburn Ridgefield Corp grew its holdings in shares of Plug Power by 79.9% during the third quarter. Millburn Ridgefield Corp now owns 12,681 shares of the electronics maker's stock worth $29,000 after buying an additional 5,631 shares in the last quarter. Finally, First Commonwealth Financial Corp PA acquired a new position in shares of Plug Power in the third quarter valued at approximately $29,000. Hedge funds and other institutional investors own 43.48% of the company's stock.

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.