Susquehanna Forecasts Strong Price Appreciation for Plug Power (NASDAQ:PLUG) Stock

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

Several other research firms have also issued reports on PLUG. BTIG Research lowered shares of Plug Power from a "buy" rating to a "neutral" rating in a research note on Thursday, November 14th. Wells Fargo & Company reduced their price target 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. Canaccord Genuity Group lowered their price objective on Plug Power from $2.50 to $2.25 and set a "hold" rating on the stock in a report on Wednesday, November 13th. Jefferies Financial Group cut their price objective on Plug Power from $2.20 to $2.00 and set a "hold" rating on the stock in a research note on Thursday, October 3rd. Finally, Piper Sandler decreased their target price on Plug Power from $1.60 to $1.40 and set an "underweight" rating for the company in a research report on Thursday, November 14th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Plug Power has an average rating of "Hold" and an average target price of $4.55.

Plug Power Stock Up 1.1 %

PLUG stock traded up $0.03 during mid-day trading on Thursday, hitting $2.74. The stock had a trading volume of 88,937,209 shares, compared to its average volume of 82,635,469. Plug Power has a 1-year low of $1.60 and a 1-year high of $5.14. The company has a fifty day moving average of $2.32 and a 200 day moving average of $2.25. The company has a current ratio of 2.08, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $2.50 billion, a price-to-earnings ratio of -1.28 and a beta of 1.79.

Plug Power (NASDAQ:PLUG - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The electronics maker reported ($0.25) EPS for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.01). The firm had revenue of $173.70 million during the quarter, compared to analyst estimates of $207.25 million. Plug Power had a negative return on equity of 46.99% 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 quarter in the prior year, the company posted ($0.47) EPS. On average, equities analysts expect that Plug Power will post -1.2 EPS for the current fiscal year.

Institutional Trading of Plug Power

Several institutional investors have recently modified their holdings of the company. Commonwealth Equity Services LLC lifted its position in Plug Power by 8.9% in the second quarter. Commonwealth Equity Services LLC now owns 356,973 shares of the electronics maker's stock worth $832,000 after purchasing an additional 29,134 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Plug Power by 8.6% during the 2nd quarter. Victory Capital Management Inc. now owns 88,102 shares of the electronics maker's stock worth $205,000 after acquiring an additional 7,014 shares during the period. Choreo LLC acquired a new stake in shares of Plug Power during the 2nd quarter valued at about $65,000. American Century Companies Inc. increased its stake in Plug Power by 16.2% in the second quarter. American Century Companies Inc. now owns 572,938 shares of the electronics maker's stock valued at $1,335,000 after acquiring an additional 79,802 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Plug Power by 20.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,109,530 shares of the electronics maker's stock worth $2,588,000 after purchasing an additional 187,205 shares in the last quarter. Institutional investors and hedge funds 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.