Plug Power (NASDAQ:PLUG) Hits New 12-Month Low on Analyst Downgrade

16 Oct 2026, 05:21 by Kim Johansen · The Markets Daily

Plug Power, Inc. (NASDAQ:PLUG – Get Free Report) hit a new 52-week low on Thursday after Susquehanna lowered their price target on the stock from $2.50 to $1.75. Susquehanna currently has a neutral rating on the stock. Plug Power traded as low as $1.42 and last traded at $1.45, with a volume of 82,526,648 shares changing hands. The stock had previously closed at $1.56.

A number of other equities analysts also recently issued reports on the company. HC Wainwright reissued a “buy” rating and set a $7.00 price target on shares of Plug Power in a research report on Tuesday, September 29th. UBS Group restated a “buy” rating and issued a $5.00 price objective on shares of Plug Power in a report on Tuesday, August 11th. Weiss Ratings downgraded Plug Power from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, July 28th. Roth Capital reaffirmed a “buy” rating and issued a $5.00 price objective (up from $3.50) on shares of Plug Power in a research note on Wednesday, August 12th. Finally, Jefferies Financial Group raised shares of Plug Power to a “hold” rating in a research note on Thursday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $3.40.

Get Our Latest Report on PLUG

Insider Activity

In other news, insider Benjamin Haycraft sold 200,000 shares of the business’s stock in a transaction on Friday, September 18th. The stock was sold at an average price of $2.14, for a total value of $428,000.00. Following the completion of the transaction, the insider directly owned 101,249 shares of the company’s stock, valued at approximately $216,672.86. The trade was a 66.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 232,560 shares of company stock valued at $496,178. Company insiders own 1.37% of the company’s stock.

Key Plug Power News

Here are the key news stories impacting Plug Power this week:

Positive Sentiment: Plug Power said it remains on track to achieve its 2026 revenue-growth guidance, supported by improving margins and record-low net cash usage of approximately $28 million. The update suggests progress on the company’s priorities of sales growth, profitability and cash-flow improvement. Plug Power Reports Continued Business Progress
Positive Sentiment: Preliminary third-quarter 2026 revenue guidance of $194.8 million is above the $192.6 million analyst consensus estimate, providing a modest upside signal ahead of the company’s earnings report.
Neutral Sentiment: Plug Power scheduled its third-quarter earnings call for November 9 and its digital Plug Symposium for November 19. These events could provide further details on demand, margins, cash usage and the company’s hydrogen strategy. Plug Power Says It Is on Track With 2026 Guidance
Negative Sentiment: Analyst caution remains a major overhang. Morgan Stanley cut its price target to $1.20 from $1.65 while retaining an Underweight rating, and Susquehanna reduced its target to $1.75 from $2.50 with a Neutral rating. The cuts reflect concerns about hydrogen adoption and execution.
Negative Sentiment: Plug Power remains unprofitable, with substantial operating losses and continuing investor concerns about cash needs, potential dilution and whether management can deliver positive EBITDA as promised. Shares have recently traded near a 52-week low, underscoring weak momentum. Plug Power Falls on Analyst Target Cuts

Institutional Investors Weigh In On Plug Power

A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its holdings in Plug Power by 21.0% in the second quarter. BlackRock Inc. now owns 184,032,469 shares of the electronics maker’s stock worth $498,728,000 after purchasing an additional 31,939,194 shares in the last quarter. Handelsbanken Fonder AB lifted its position in shares of Plug Power by 446.9% during the second quarter. Handelsbanken Fonder AB now owns 19,014,270 shares of the electronics maker’s stock valued at $51,529,000 after buying an additional 15,537,320 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Plug Power by 97.4% during the first quarter. Renaissance Technologies LLC now owns 27,738,500 shares of the electronics maker’s stock valued at $62,689,000 after buying an additional 13,685,900 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Plug Power by 241.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 18,134,913 shares of the electronics maker’s stock valued at $40,971,000 after buying an additional 12,820,616 shares in the last quarter. Finally, State Street Corp boosted its holdings in shares of Plug Power by 6.1% in the 2nd quarter. State Street Corp now owns 38,763,529 shares of the electronics maker’s stock valued at $105,049,000 after buying an additional 2,214,427 shares in the last quarter. Institutional investors own 43.48% of the company’s stock.

Plug Power Stock Up 2.4%

The business’s fifty day moving average price is $2.04 and its two-hundred day moving average price is $2.57. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.32 and a current ratio of 2.32. The firm has a market capitalization of $2.07 billion, a P/E ratio of -1.18 and a beta of 2.28.

Plug Power (NASDAQ:PLUG – Get Free Report) last issued its quarterly earnings data on Monday, August 10th. The electronics maker reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. The firm had revenue of $178.30 million for the quarter, compared to the consensus estimate of $169.11 million. Plug Power had a negative net margin of 220.59% and a negative return on equity of 56.01%. The business’s revenue was up 2.5% on a year-over-year basis. Equities analysts expect that Plug Power, Inc. will post -0.25 earnings per share for the current fiscal year.

Plug Power Company Profile

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Plug Power Inc is a clean-energy technology company that develops and supplies hydrogen and fuel-cell solutions. Its products include fuel-cell systems and engines for material-handling equipment, backup and stationary power, and other commercial and industrial applications. The company also provides electrolyzers for producing hydrogen, along with hydrogen generation, liquefaction, storage, and delivery services.