Evercore ISI Issues Pessimistic Forecast for Plug Power (NASDAQ:PLUG) Stock Price

Plug Power (NASDAQ:PLUG) had its target price cut by Evercore ISI from $5.00 to $4.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have an outperform rating on the electronics maker’s stock.

A number of other analysts have also issued reports on the company. Truist Financial lowered their target price on Plug Power from $3.00 to $2.00 and set a “hold” rating on the stock in a report on Monday, August 12th. Jefferies Financial Group lowered their price objective on shares of Plug Power from $2.20 to $2.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Piper Sandler cut their target price on shares of Plug Power from $2.50 to $2.40 and set an “underweight” rating for the company in a research note on Monday, July 22nd. Canaccord Genuity Group reduced their price target on shares of Plug Power from $2.50 to $2.25 and set a “hold” rating for the company in a report on Wednesday. Finally, Craig Hallum dropped their price objective on shares of Plug Power from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target 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 company’s 50 day moving average is $2.08 and its 200-day moving average is $2.40. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of -0.87 and a beta of 1.81. Plug Power has a 12 month low of $1.60 and a 12 month high of $5.14.

Plug Power (NASDAQ:PLUG) last announced its earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.01). Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. The firm had revenue of $173.70 million during the quarter, compared to the consensus estimate of $207.25 million. During the same quarter last year, the business earned ($0.47) EPS. The business’s revenue was down 12.6% compared to the same quarter last year. Equities analysts anticipate that Plug Power will post -1.16 EPS for the current year.

Hedge Funds Weigh In On Plug Power

Several hedge funds and other institutional investors have recently modified their holdings of PLUG. SteelPeak Wealth LLC bought a new stake in Plug Power in the second quarter valued at $26,000. Nations Financial Group Inc. IA ADV acquired a new stake in shares of Plug Power in the 2nd quarter valued at $26,000. Aire Advisors LLC bought a new stake in shares of Plug Power in the 2nd quarter worth about $28,000. Madison Park Capital Advisors LLC bought a new stake in shares of Plug Power in the 2nd quarter worth about $29,000. Finally, Profund Advisors LLC acquired a new stake in shares of Plug Power during the 2nd quarter worth about $29,000. Institutional investors 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.