Plug Power (NASDAQ:PLUG) PT Lowered to $2.00 at Susquehanna

Plug Power (NASDAQ:PLUG) had its price target cut by Susquehanna from $3.00 to $2.00 in a report released on Monday, Benzinga reports. They currently have a neutral rating on the electronics maker’s stock.

Several other equities research analysts have also issued reports on PLUG. HC Wainwright reiterated a buy rating and set a $18.00 target price on shares of Plug Power in a research report on Tuesday, May 14th. TD Cowen reduced their target price on Plug Power from $7.00 to $5.00 and set a buy rating on the stock in a research note on Friday, May 10th. B. Riley raised Plug Power to a strong-buy rating in a research note on Tuesday, June 25th. Wells Fargo & Company dropped their target price on Plug Power from $4.00 to $3.00 and set an equal weight rating for the company in a research report on Friday, August 9th. Finally, Morgan Stanley reduced their price target on shares of Plug Power from $3.00 to $2.50 and set an underweight rating on the stock in a research report on Friday, May 10th. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $5.19.

Plug Power Stock Performance

NASDAQ PLUG opened at $2.02 on Monday. The company’s 50 day simple moving average is $2.54 and its two-hundred day simple moving average is $3.06. The stock has a market capitalization of $1.78 billion, a PE ratio of -0.84 and a beta of 1.81. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.07 and a quick ratio of 0.91. Plug Power has a 1 year low of $1.91 and a 1 year high of $9.30.

Plug Power (NASDAQ:PLUG) last posted its earnings results on Thursday, August 8th. The electronics maker reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.06). Plug Power had a negative return on equity of 47.51% and a negative net margin of 216.80%. The business had revenue of $143.40 million for the quarter, compared to analysts’ expectations of $184.54 million. During the same quarter in the previous year, the firm earned ($0.35) earnings per share. Plug Power’s quarterly revenue was down 44.9% compared to the same quarter last year. Analysts predict that Plug Power will post -1.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PLUG. Norges Bank purchased a new stake in Plug Power in the fourth quarter worth about $97,800,000. State Board of Administration of Florida Retirement System boosted its position in shares of Plug Power by 5.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 600,188 shares of the electronics maker’s stock worth $2,065,000 after purchasing an additional 33,311 shares in the last quarter. Rafferty Asset Management LLC grew its stake in shares of Plug Power by 69.5% in the 4th quarter. Rafferty Asset Management LLC now owns 359,537 shares of the electronics maker’s stock worth $1,618,000 after buying an additional 147,435 shares during the last quarter. State of New Jersey Common Pension Fund D increased its position in Plug Power by 104.9% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 651,695 shares of the electronics maker’s stock valued at $2,933,000 after buying an additional 333,708 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Plug Power by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,374,782 shares of the electronics maker’s stock valued at $15,187,000 after buying an additional 102,095 shares during the last quarter. 43.48% of the stock is currently owned by institutional investors.

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.