Plug Power (NASDAQ:PLUG) Price Target Lowered to $3.00 at Craig Hallum

Plug Power (NASDAQ:PLUG) had its target price reduced by Craig Hallum from $4.00 to $3.00 in a research report released on Thursday morning,Benzinga reports. Craig Hallum currently has a buy rating on the electronics maker’s stock.

PLUG has been the topic of a number of other research reports. Jefferies Financial Group cut their target price 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. HC Wainwright restated a “buy” rating and set a $18.00 target price on shares of Plug Power in a research report on Wednesday. Truist Financial decreased their price target on shares of Plug Power from $3.00 to $2.00 and set a “hold” rating on the stock in a report on Monday, August 12th. Wells Fargo & Company decreased 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 report on Thursday. Finally, Canaccord Genuity Group reduced their target price on Plug Power from $2.50 to $2.25 and set a “hold” rating on the stock in a research note on Wednesday. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $4.52.

Plug Power Stock Down 5.9 %

Plug Power stock traded down $0.12 during midday trading on Thursday, reaching $1.85. The stock had a trading volume of 37,163,816 shares, compared to its average volume of 41,099,465. Plug Power has a 12 month low of $1.60 and a 12 month high of $5.14. The company has a market capitalization of $1.63 billion, a P/E ratio of -0.89 and a beta of 1.81. The company has a fifty day moving average price of $2.07 and a two-hundred day moving average price of $2.41. The company has a current ratio of 2.08, a quick ratio of 0.91 and a debt-to-equity ratio of 0.15.

Plug Power (NASDAQ:PLUG) last issued 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 company had revenue of $173.70 million for the quarter, compared to the consensus estimate of $207.25 million. Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. The business’s revenue for the quarter was down 12.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.47) earnings per share. As a group, equities analysts expect that Plug Power will post -1.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Plug Power

Several institutional investors and hedge funds have recently made changes to their positions in PLUG. HBK Sorce Advisory LLC purchased a new position in shares of Plug Power during the 1st quarter worth $37,000. Nations Financial Group Inc. IA ADV purchased a new position in shares of Plug Power during the 2nd quarter valued at $26,000. SteelPeak Wealth LLC purchased a new position in shares of Plug Power during the 2nd quarter valued at $26,000. Aire Advisors LLC purchased a new position in shares of Plug Power during the 2nd quarter valued at $28,000. Finally, Madison Park Capital Advisors LLC purchased a new position in shares of Plug Power during the 2nd quarter valued at $29,000. Institutional investors own 43.48% of the company’s stock.

About Plug Power

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.