Evercore ISI Cuts Plug Power (NASDAQ:PLUG) Price Target to $4.00

by · The Cerbat Gem

Plug Power (NASDAQ:PLUG – Free Report) had its target price cut by Evercore ISI from $5.00 to $4.00 in a report published on Wednesday,Benzinga reports. They currently have an outperform rating on the electronics maker’s stock.

A number of other research analysts also recently commented on the company. Jefferies Financial Group reduced their target price on Plug Power from $2.20 to $2.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Craig Hallum reduced their price objective on Plug Power from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. HC Wainwright reiterated a “buy” rating and set a $18.00 target price on shares of Plug Power in a research note on Wednesday. Piper Sandler dropped their target price on shares of Plug Power from $2.50 to $2.40 and set an “underweight” rating on the stock in a report on Monday, July 22nd. Finally, Canaccord Genuity Group decreased their price target on shares of Plug Power from $2.50 to $2.25 and set a “hold” rating for the company in a report on Wednesday. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $4.52.

Check Out Our Latest Stock Analysis on PLUG

Plug Power Stock Performance

Plug Power stock opened at $1.87 on Wednesday. The company has a market cap of $1.64 billion, a price-to-earnings ratio of -0.87 and a beta of 1.81. Plug Power has a 12 month low of $1.60 and a 12 month high of $5.14. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.08 and a quick ratio of 0.91. The stock’s 50-day moving average is $2.08 and its 200-day moving average is $2.40.

Plug Power (NASDAQ:PLUG – Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. The company had revenue of $173.70 million during the quarter, compared to analysts’ expectations of $207.25 million. During the same quarter in the prior year, the company earned ($0.47) EPS. The firm’s revenue was down 12.6% compared to the same quarter last year. Equities analysts anticipate that Plug Power will post -1.16 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. HBK Sorce Advisory LLC acquired a new stake in shares of Plug Power during the 1st quarter valued at about $37,000. Nations Financial Group Inc. IA ADV acquired a new position in shares of Plug Power during the 2nd quarter worth $26,000. SteelPeak Wealth LLC acquired a new position in shares of Plug Power during the 2nd quarter worth $26,000. Aire Advisors LLC bought a new position in shares of Plug Power during the 2nd quarter valued at $28,000. Finally, Madison Park Capital Advisors LLC acquired a new stake in shares of Plug Power in the 2nd quarter valued at $29,000. Hedge funds and other institutional investors own 43.48% of the company’s stock.

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.

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