Piper Sandler Trims Plug Power (NASDAQ:PLUG) Target Price to $2.50

Plug Power (NASDAQ:PLUG) had its price objective cut by Piper Sandler from $2.90 to $2.50 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has an “underweight” rating on the electronics maker’s stock. Piper Sandler’s price objective would indicate a potential downside of 9.75% from the stock’s current price.

A number of other equities research analysts also recently commented on PLUG. Royal Bank of Canada dropped their price objective on Plug Power from $5.00 to $3.50 and set a “sector perform” rating for the company in a report on Wednesday, January 24th. Truist Financial lifted their price objective on shares of Plug Power from $3.00 to $4.00 and gave the stock a “hold” rating in a research note on Wednesday, February 28th. BMO Capital Markets downgraded shares of Plug Power from a “market perform” rating to an “underperform” rating and lowered their target price for the company from $3.50 to $2.50 in a research note on Wednesday, January 24th. UBS Group cut shares of Plug Power from a “buy” rating to a “neutral” rating and set a $4.75 price target on the stock. in a research report on Tuesday, February 6th. Finally, HSBC lowered their price objective on shares of Plug Power from $9.00 to $8.50 and set a “buy” rating for the company in a research report on Tuesday, March 5th. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $6.01.

Plug Power Stock Up 9.9 %

Shares of NASDAQ PLUG opened at $2.77 on Friday. The company has a current ratio of 1.85, a quick ratio of 0.86 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $1.93 billion, a PE ratio of -1.21 and a beta of 1.64. The firm’s 50-day moving average is $3.09 and its 200-day moving average is $3.87. Plug Power has a 1 year low of $2.25 and a 1 year high of $13.44.

Plug Power (NASDAQ:PLUG) last announced its quarterly earnings data on Friday, March 1st. The electronics maker reported ($1.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.52). The business had revenue of $222.20 million during the quarter, compared to the consensus estimate of $234.21 million. Plug Power had a negative net margin of 153.57% and a negative return on equity of 38.09%. Plug Power’s revenue was up .7% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.38) earnings per share. Equities analysts expect that Plug Power will post -0.94 EPS for the current year.

Institutional Trading of Plug Power

Several institutional investors and hedge funds have recently bought and sold shares of PLUG. Millburn Ridgefield Corp bought a new stake in shares of Plug Power during the 3rd quarter worth approximately $29,000. Mosley Wealth Management bought a new stake in Plug Power during the first quarter worth $35,000. J.W. Cole Advisors Inc. acquired a new stake in Plug Power in the first quarter valued at $36,000. HBK Sorce Advisory LLC bought a new position in shares of Plug Power in the 1st quarter valued at about $37,000. Finally, FAS Wealth Partners Inc. acquired a new position in shares of Plug Power during the 4th quarter worth about $45,000. 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.