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

Plug Power (NASDAQ:PLUG) had its price objective dropped by stock analysts at Susquehanna from $3.50 to $3.00 in a report released on Friday, Benzinga reports. The firm currently has a “neutral” rating on the electronics maker’s stock. Susquehanna’s price objective would suggest a potential upside of 8.30% from the company’s previous close.

PLUG has been the topic of several other research reports. Roth Capital raised Plug Power from a “neutral” rating to a “buy” rating in a report on Wednesday, January 31st. Seaport Res Ptn lowered Plug Power from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 6th. Roth Mkm raised Plug Power from a “neutral” rating to a “buy” rating and increased their price objective for the company from $4.50 to $9.00 in a report on Wednesday, January 31st. UBS Group cut shares of Plug Power from a “buy” rating to a “neutral” rating and set a $4.75 target price on the stock. in a report on Tuesday, February 6th. Finally, HSBC decreased their price target on shares of Plug Power from $9.00 to $8.50 and set a “buy” rating for the company in a research note on Tuesday, March 5th. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Plug Power presently has an average rating of “Hold” and an average target price of $6.01.

Plug Power Trading Up 9.9 %

NASDAQ:PLUG opened at $2.77 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.86 and a current ratio of 1.85. Plug Power has a 1 year low of $2.25 and a 1 year high of $13.44. The stock has a market cap of $1.93 billion, a P/E ratio of -1.21 and a beta of 1.64. The stock has a 50-day simple moving average of $3.09 and a 200-day simple moving average of $3.87.

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

Hedge Funds Weigh In On Plug Power

A number of institutional investors and hedge funds have recently made changes to their positions in PLUG. Millburn Ridgefield Corp purchased a new stake in Plug Power during the third quarter worth about $29,000. FAS Wealth Partners Inc. acquired a new stake in shares of Plug Power in the 4th quarter worth approximately $45,000. Independent Advisor Alliance purchased a new position in Plug Power in the 4th quarter valued at approximately $45,000. Mosley Wealth Management acquired a new position in Plug Power during the first quarter worth $35,000. Finally, Signaturefd LLC boosted its position in Plug Power by 114.3% during the third quarter. Signaturefd LLC now owns 10,256 shares of the electronics maker’s stock worth $78,000 after purchasing an additional 5,471 shares in the last quarter. 43.48% of the stock is owned by institutional investors and hedge funds.

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.