Plug Power (NASDAQ:PLUG) Given New $3.00 Price Target at Craig Hallum

Plug Power (NASDAQ:PLUG) had its target price cut by stock analysts at Craig Hallum from $4.00 to $3.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the electronics maker’s stock. Craig Hallum’s price target would indicate a potential upside of 57.61% from the stock’s previous close.

PLUG has been the topic of several other reports. Susquehanna reduced their price objective on Plug Power from $3.00 to $2.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. Jefferies Financial Group lowered their price objective on Plug Power from $2.20 to $2.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Royal Bank of Canada decreased their price target on shares of Plug Power from $3.50 to $2.50 and set a “sector perform” rating for the company in a research note on Monday, August 12th. Wells Fargo & Company dropped their price objective on shares of Plug Power from $3.00 to $2.00 and set an “equal weight” rating on the stock in a research report on Thursday. Finally, HC Wainwright reaffirmed a “buy” rating and set a $18.00 price objective on shares of Plug Power in a research report on Wednesday. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $4.60.

Plug Power Stock Down 3.4 %

Plug Power stock traded down $0.07 during midday trading on Thursday, reaching $1.90. The company’s stock had a trading volume of 43,334,215 shares, compared to its average volume of 40,954,945. Plug Power has a 52-week low of $1.60 and a 52-week high of $5.14. The stock has a market capitalization of $1.67 billion, a P/E ratio of -0.88 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. The stock’s 50-day simple moving average is $2.06 and its 200-day simple moving average is $2.41.

Plug Power (NASDAQ:PLUG) last released its quarterly earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). Plug Power had a negative return on equity of 47.36% and a negative net margin of 214.05%. The business had revenue of $173.70 million for the quarter, compared to analysts’ expectations of $207.25 million. During the same quarter in the prior year, the company posted ($0.47) earnings per share. The business’s revenue for the quarter was down 12.6% compared to the same quarter last year. On average, sell-side analysts expect that Plug Power will post -1.16 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Vontobel Holding Ltd. grew its stake in shares of Plug Power by 44.3% in the third quarter. Vontobel Holding Ltd. now owns 3,426,354 shares of the electronics maker’s stock worth $7,744,000 after acquiring an additional 1,051,400 shares during the last quarter. State Board of Administration of Florida Retirement System increased its holdings in shares of Plug Power by 5.9% during 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 during the period. Gabelli Funds LLC increased its holdings in shares of Plug Power by 42.9% during the 1st quarter. Gabelli Funds LLC now owns 250,000 shares of the electronics maker’s stock worth $860,000 after purchasing an additional 75,000 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Plug Power by 25.9% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,945,162 shares of the electronics maker’s stock valued at $4,532,000 after buying an additional 400,120 shares during the last quarter. Finally, Diversified Trust Co bought a new stake in shares of Plug Power in the second quarter valued at about $35,000. 43.48% of the stock is owned by institutional investors.

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.