Plug Power (NASDAQ:PLUG – Get Free Report) had its price objective lowered by stock analysts at Truist Financial from $9.00 to $8.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a “hold” rating on the electronics maker’s stock. Truist Financial’s target price would suggest a potential upside of 5.26% from the company’s current price.
PLUG has been the subject of several other research reports. Roth Mkm reissued a “neutral” rating and issued a $7.50 price objective (down previously from $13.00) on shares of Plug Power in a research note on Thursday, August 10th. Citigroup initiated coverage on Plug Power in a research report on Wednesday, July 5th. They issued a “buy” rating and a $13.00 target price for the company. Piper Sandler increased their target price on Plug Power from $8.00 to $9.00 in a research report on Tuesday, July 18th. B. Riley dropped their target price on Plug Power from $26.00 to $18.00 in a research report on Tuesday, June 27th. Finally, Roth Capital downgraded shares of Plug Power from a “buy” rating to a “neutral” rating in a research note on Thursday, August 10th. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $17.98.
Plug Power Stock Performance
Shares of Plug Power stock opened at $7.60 on Monday. The company has a 50 day moving average of $9.21 and a 200-day moving average of $9.59. Plug Power has a 1-year low of $7.27 and a 1-year high of $23.45. The company has a current ratio of 3.16, a quick ratio of 2.07 and a debt-to-equity ratio of 0.14. The company has a market cap of $4.57 billion, a PE ratio of -5.31 and a beta of 1.91.
Plug Power (NASDAQ:PLUG – Get Free Report) last announced its quarterly earnings data on Wednesday, August 9th. The electronics maker reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.07). Plug Power had a negative return on equity of 20.27% and a negative net margin of 95.15%. The business had revenue of $260.18 million for the quarter, compared to the consensus estimate of $237.38 million. As a group, equities research analysts forecast that Plug Power will post -1.26 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Plug Power
Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its holdings in shares of Plug Power by 3.0% in the first quarter. BlackRock Inc. now owns 52,381,858 shares of the electronics maker’s stock worth $613,915,000 after acquiring an additional 1,534,756 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in Plug Power by 28.4% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 22,177,114 shares of the electronics maker’s stock worth $230,420,000 after acquiring an additional 4,903,697 shares during the period. Norges Bank bought a new position in shares of Plug Power in the fourth quarter worth $211,176,000. Bank Julius Baer & Co. Ltd Zurich boosted its stake in Plug Power by 128,905.5% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 16,955,199 shares of the electronics maker’s stock valued at $176,165,000 after buying an additional 16,942,056 shares during the period. Finally, State Street Corp raised its holdings in shares of Plug Power by 4.7% in the 2nd quarter. State Street Corp now owns 16,121,043 shares of the electronics maker’s stock valued at $167,498,000 after acquiring an additional 718,729 shares in the last quarter. Institutional investors own 49.99% of the company’s stock.
About Plug Power
Plug Power Inc delivers end-to-end clean hydrogen and zero-emissions fuel cell solutions for supply chain and logistics applications, on-road electric vehicles, stationary power market, and others in North America and internationally. It engages in building an end-to-end green hydrogen ecosystem, including liquid green hydrogen production, storage and handling, transportation, and dispensing infrastructure.