B. Riley Issues Pessimistic Forecast for Plug Power (NASDAQ:PLUG) Stock Price

Plug Power (NASDAQ:PLUG) had its price objective reduced by stock analysts at B. Riley from $4.00 to $3.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the electronics maker’s stock. B. Riley’s price objective points to a potential upside of 81.82% from the stock’s previous close. B. Riley also issued estimates for Plug Power’s Q4 2024 earnings at ($0.25) EPS, FY2024 earnings at ($1.27) EPS, Q1 2025 earnings at ($0.21) EPS, Q2 2025 earnings at ($0.15) EPS, Q3 2025 earnings at ($0.11) EPS, Q4 2025 earnings at ($0.10) EPS, FY2025 earnings at ($0.60) EPS and FY2026 earnings at ($0.41) EPS.

Several other equities analysts have also issued reports on the stock. Truist Financial dropped their target price on shares of Plug Power from $2.00 to $1.50 and set a “hold” rating on the stock in a report on Wednesday. Craig Hallum decreased their target price on Plug Power from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. Susquehanna cut their price target on Plug Power from $2.50 to $1.80 and set a “neutral” rating on the stock in a report on Wednesday. Seaport Res Ptn downgraded shares of Plug Power from a “hold” rating to a “strong sell” rating in a research report on Monday, January 27th. Finally, Wells Fargo & Company reduced their price target on shares of Plug Power from $3.00 to $2.00 and set an “equal weight” rating for the company in a report on Thursday, November 14th. Six analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Plug Power currently has an average rating of “Hold” and a consensus price target of $2.34.

Plug Power Stock Down 2.4 %

Shares of NASDAQ PLUG opened at $1.65 on Wednesday. The company’s 50 day moving average price is $2.08 and its 200-day moving average price is $2.10. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 2.08. Plug Power has a 52-week low of $1.37 and a 52-week high of $4.90. The company has a market capitalization of $1.50 billion, a P/E ratio of -0.77 and a beta of 1.79.

Institutional Investors Weigh In On Plug Power

Large investors have recently added to or reduced their stakes in the business. Pinnacle Wealth Planning Services Inc. bought a new position in shares of Plug Power in the fourth quarter worth approximately $60,000. Toronto Dominion Bank purchased a new position in Plug Power in the 4th quarter worth approximately $270,000. Retirement Planning Group LLC NY bought a new position in shares of Plug Power in the 4th quarter worth $38,000. GTS Securities LLC raised its position in shares of Plug Power by 150.0% during the 4th quarter. GTS Securities LLC now owns 18,750 shares of the electronics maker’s stock valued at $40,000 after buying an additional 56,255 shares in the last quarter. Finally, 49 Wealth Management LLC lifted its holdings in shares of Plug Power by 25.0% during the 4th quarter. 49 Wealth Management LLC now owns 29,180 shares of the electronics maker’s stock worth $62,000 after acquiring an additional 5,834 shares during the last quarter. 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.