Plug Power (NASDAQ:PLUG) Stock Price Expected to Rise, Susquehanna Analyst Says

Plug Power (NASDAQ:PLUGGet Free Report) had its target price raised by Susquehanna from $2.00 to $2.50 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the electronics maker’s stock. Susquehanna’s price objective points to a potential upside of 2.46% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. Piper Sandler reduced their price objective on shares of Plug Power from $1.60 to $1.40 and set an “underweight” rating for the company in a research note on Thursday, November 14th. 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 research report on Wednesday, November 13th. BTIG Research downgraded Plug Power from a “buy” rating to a “neutral” rating in a research note on Thursday, November 14th. Craig Hallum decreased their price objective on shares of Plug Power from $4.00 to $3.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Finally, Jefferies Financial Group reduced their price objective on shares of Plug Power from $2.20 to $2.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $4.55.

Get Our Latest Analysis on Plug Power

Plug Power Stock Performance

NASDAQ:PLUG opened at $2.44 on Thursday. Plug Power has a fifty-two week low of $1.60 and a fifty-two week high of $5.14. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 2.08. The stock’s fifty day moving average is $2.34 and its 200 day moving average is $2.25. The firm has a market capitalization of $2.22 billion, a PE ratio of -1.14 and a beta of 1.79.

Plug Power (NASDAQ:PLUGGet Free Report) last issued 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 for the quarter, compared to analysts’ expectations of $207.25 million. During the same period in the prior year, the firm posted ($0.47) earnings per share. The firm’s revenue for the quarter was down 12.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Plug Power will post -1.2 earnings per share for the current year.

Institutional Investors Weigh In On Plug Power

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PLUG. ACT Wealth Management LLC lifted its stake in Plug Power by 71.4% during the fourth quarter. ACT Wealth Management LLC now owns 24,000 shares of the electronics maker’s stock worth $51,000 after purchasing an additional 10,000 shares in the last quarter. Arkadios Wealth Advisors boosted its position in shares of Plug Power by 88.0% during the 4th quarter. Arkadios Wealth Advisors now owns 62,082 shares of the electronics maker’s stock worth $132,000 after acquiring an additional 29,062 shares in the last quarter. Kieckhefer Group LLC acquired a new stake in Plug Power during the fourth quarter worth approximately $138,000. Sanctuary Advisors LLC acquired a new position in Plug Power in the third quarter valued at $206,000. Finally, Arete Wealth Advisors LLC boosted its position in shares of Plug Power by 575.8% in the 3rd quarter. Arete Wealth Advisors LLC now owns 147,117 shares of the electronics maker’s stock valued at $332,000 after purchasing an additional 125,347 shares during the period. Institutional investors and hedge funds own 43.48% of the company’s stock.

Plug Power Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Plug Power (NASDAQ:PLUG)

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