Plug Power (NASDAQ:PLUG) Price Target Cut to $5.00 by Analysts at TD Cowen

Plug Power (NASDAQ:PLUGFree Report) had its price target trimmed by TD Cowen from $7.00 to $5.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a buy rating on the electronics maker’s stock.

PLUG has been the subject of a number of other reports. BMO Capital Markets downgraded shares of Plug Power from a market perform rating to an underperform rating and reduced their target price for the company from $3.50 to $2.50 in a research report on Wednesday, January 24th. Redburn Atlantic started coverage on shares of Plug Power in a research note on Tuesday, February 6th. They issued a neutral rating and a $4.50 target price on the stock. Seaport Res Ptn cut shares of Plug Power from a buy rating to a neutral rating in a research report on Tuesday, February 6th. Piper Sandler lowered their price objective on shares of Plug Power from $2.90 to $2.50 and set an underweight rating on the stock in a research report on Friday. Finally, Susquehanna reduced their target price on shares of Plug Power from $3.50 to $3.00 and set a neutral rating on the stock in a report on Friday. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $5.94.

Read Our Latest Analysis on Plug Power

Plug Power Stock Down 7.6 %

Shares of PLUG traded down $0.21 on Friday, reaching $2.56. The company’s stock had a trading volume of 32,918,291 shares, compared to its average volume of 30,879,508. The company has a current ratio of 1.85, a quick ratio of 0.86 and a debt-to-equity ratio of 0.18. Plug Power has a twelve month low of $2.25 and a twelve month high of $13.44. The firm has a fifty day moving average of $3.06 and a 200-day moving average of $3.84.

Plug Power (NASDAQ:PLUGGet Free Report) last issued 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). Plug Power had a negative return on equity of 41.66% and a negative net margin of 181.96%. The firm had revenue of $222.20 million during the quarter, compared to the consensus estimate of $234.21 million. During the same period in the previous year, the company posted ($0.38) earnings per share. The company’s revenue for the quarter was up .7% on a year-over-year basis. As a group, research analysts expect that Plug Power will post -0.94 EPS for the current year.

Institutional Trading of Plug Power

Several large investors have recently added to or reduced their stakes in PLUG. Norges Bank bought a new stake in Plug Power during the fourth quarter valued at approximately $97,800,000. Electron Capital Partners LLC bought a new position in shares of Plug Power in the third quarter worth approximately $13,496,000. Quadrature Capital Ltd bought a new position in shares of Plug Power in the fourth quarter worth approximately $5,133,000. Pinnacle Associates Ltd. boosted its position in shares of Plug Power by 41.4% in the first quarter. Pinnacle Associates Ltd. now owns 3,775,808 shares of the electronics maker’s stock worth $12,989,000 after purchasing an additional 1,105,813 shares during the period. Finally, SG Americas Securities LLC boosted its position in shares of Plug Power by 183.6% in the fourth quarter. SG Americas Securities LLC now owns 1,656,282 shares of the electronics maker’s stock worth $7,453,000 after purchasing an additional 1,072,344 shares during the period. 43.48% of the stock is currently owned by institutional investors.

Plug Power Company Profile

(Get Free Report)

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.

See Also

Analyst Recommendations for Plug Power (NASDAQ:PLUG)

Receive News & Ratings for Plug Power Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Plug Power and related companies with MarketBeat.com's FREE daily email newsletter.