Plug Power (NASDAQ:PLUG – Get Rating) had its price target raised by equities researchers at Piper Sandler from $18.00 to $19.00 in a research note issued to investors on Tuesday, The Fly reports. Piper Sandler’s target price suggests a potential upside of 15.71% from the stock’s previous close.
PLUG has been the topic of a number of other research reports. Morgan Stanley dropped their target price on shares of Plug Power from $65.00 to $60.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 22nd. Susquehanna cut their price objective on shares of Plug Power from $33.00 to $30.00 in a research report on Tuesday, May 10th. KeyCorp reaffirmed an “overweight” rating and issued a $30.00 target price on shares of Plug Power in a research report on Thursday, June 30th. JPMorgan Chase & Co. cut their price target on Plug Power from $32.00 to $28.00 and set an “overweight” rating on the stock in a report on Wednesday, June 29th. Finally, Craig Hallum decreased their price objective on Plug Power from $49.00 to $31.00 in a report on Tuesday, May 10th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Plug Power presently has a consensus rating of “Moderate Buy” and an average target price of $34.18.
Plug Power Stock Up 6.2 %
Shares of NASDAQ PLUG opened at $16.42 on Tuesday. The company has a market capitalization of $9.49 billion, a P/E ratio of -16.93 and a beta of 1.74. Plug Power has a 52-week low of $12.70 and a 52-week high of $46.50. The company has a debt-to-equity ratio of 0.12, a quick ratio of 10.51 and a current ratio of 11.44. The company’s 50 day moving average price is $16.84 and its 200-day moving average price is $21.50.
Plug Power (NASDAQ:PLUG – Get Rating) last issued its quarterly earnings results on Monday, May 9th. The electronics maker reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.11). The firm had revenue of $140.80 million during the quarter, compared to analyst estimates of $142.99 million. Plug Power had a negative return on equity of 11.78% and a negative net margin of 97.29%. The firm’s revenue for the quarter was up 95.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.12) EPS. Equities analysts forecast that Plug Power will post -0.73 earnings per share for the current year.
Institutional Investors Weigh In On Plug Power
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Benjamin Edwards Inc. purchased a new stake in Plug Power in the 4th quarter valued at about $25,000. Parkside Financial Bank & Trust increased its stake in Plug Power by 929.8% in the 4th quarter. Parkside Financial Bank & Trust now owns 968 shares of the electronics maker’s stock valued at $27,000 after buying an additional 874 shares during the last quarter. Acima Private Wealth LLC purchased a new stake in Plug Power in the 4th quarter valued at about $28,000. Tyler Stone Wealth Management purchased a new stake in Plug Power in the 4th quarter valued at about $28,000. Finally, Webster Bank N. A. increased its stake in shares of Plug Power by 62.4% during the 1st quarter. Webster Bank N. A. now owns 1,015 shares of the electronics maker’s stock worth $29,000 after purchasing an additional 390 shares during the last quarter. Hedge funds and other institutional investors own 52.07% of the company’s stock.
About Plug Power (Get Rating)
Plug Power Inc provides hydrogen fuel cell turnkey solutions for the mobility, material handling, and stationary power markets in North America and internationally. It focuses on proton exchange membrane (PEM) fuel cell and fuel processing technologies, and fuel cell/battery hybrid technologies, as well as related hydrogen and green hydrogen generation, storage, and dispensing infrastructure.