Plug Power (NASDAQ:PLUG) Price Target Cut to $4.00 by Analysts at Evercore ISI

Plug Power (NASDAQ:PLUG) had its price objective trimmed by Evercore ISI from $5.00 to $4.00 in a research note published on Wednesday,Benzinga reports. The firm currently has an outperform rating on the electronics maker’s stock.

Several other analysts have also issued reports on the stock. Wells Fargo & Company reduced their target price on shares of Plug Power from $4.00 to $3.00 and set an “equal weight” rating for the company in a research note on Friday, August 9th. Craig Hallum cut their target price on Plug Power from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Royal Bank of Canada reduced their price target on shares of Plug Power from $3.50 to $2.50 and set a “sector perform” rating for the company in a research report on Monday, August 12th. Susquehanna lowered their target price on shares of Plug Power from $3.00 to $2.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. Finally, Jefferies Financial Group lowered their price target on Plug Power from $2.20 to $2.00 and set a “hold” rating on the stock in a research report on Thursday, October 3rd. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Plug Power has an average rating of “Hold” and an average target price of $4.52.

Plug Power Trading Down 5.1 %

NASDAQ:PLUG opened at $1.87 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 2.08 and a debt-to-equity ratio of 0.15. The stock’s 50-day simple moving average is $2.08 and its 200 day simple moving average is $2.40. Plug Power has a 52-week low of $1.60 and a 52-week high of $5.14.

Plug Power (NASDAQ:PLUG) last announced its quarterly earnings data 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). The firm had revenue of $173.70 million during the quarter, compared to the consensus estimate of $207.25 million. Plug Power had a negative net margin of 214.05% and a negative return on equity of 46.99%. The business’s revenue was down 12.6% compared to the same quarter last year. During the same period last year, the business earned ($0.47) earnings per share. On average, analysts forecast that Plug Power will post -1.2 EPS for the current fiscal year.

Institutional Trading of Plug Power

Hedge funds have recently bought and sold shares of the business. SteelPeak Wealth LLC acquired a new position in shares of Plug Power during the 2nd quarter valued at about $26,000. Nations Financial Group Inc. IA ADV purchased a new stake in shares of Plug Power in the 2nd quarter valued at approximately $26,000. Aire Advisors LLC acquired a new stake in shares of Plug Power during the 2nd quarter worth approximately $28,000. Madison Park Capital Advisors LLC purchased a new stake in shares of Plug Power during the 2nd quarter valued at approximately $29,000. Finally, Profund Advisors LLC acquired a new position in Plug Power in the second quarter valued at approximately $29,000. 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.