Plug Power Inc. (NASDAQ:PLUG – Get Free Report) shares gapped down prior to trading on Tuesday after Evercore ISI lowered their price target on the stock from $9.00 to $6.00. The stock had previously closed at $3.86, but opened at $3.72. Evercore ISI currently has an outperform rating on the stock. Plug Power shares last traded at $3.80, with a volume of 6,540,979 shares traded.
A number of other research firms have also recently commented on PLUG. Piper Sandler raised their target price on shares of Plug Power from $2.30 to $2.80 and gave the stock an “underweight” rating in a research note on Wednesday, January 24th. 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 research note on Tuesday, February 6th. B. Riley decreased their target price on shares of Plug Power from $18.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday, January 24th. Royal Bank of Canada decreased their target price on shares of Plug Power from $5.00 to $3.50 and set a “sector perform” rating on the stock in a research note on Wednesday, January 24th. Finally, Redburn Atlantic began coverage on shares of Plug Power in a research note on Tuesday, February 6th. They set a “neutral” rating and a $4.50 target price on the stock. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $6.32.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Plug Power by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 53,987,285 shares of the electronics maker’s stock worth $242,943,000 after buying an additional 283,376 shares during the period. BlackRock Inc. boosted its stake in Plug Power by 3.0% during the first quarter. BlackRock Inc. now owns 52,381,858 shares of the electronics maker’s stock worth $613,915,000 after buying an additional 1,534,756 shares during the period. Morgan Stanley boosted its stake in Plug Power by 87.2% during the third quarter. Morgan Stanley now owns 22,285,344 shares of the electronics maker’s stock worth $169,369,000 after buying an additional 10,378,912 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Plug Power by 28.4% during the second 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 buying an additional 4,903,697 shares during the period. Finally, Norges Bank bought a new stake in shares of Plug Power during the fourth quarter worth $97,800,000. 49.99% of the stock is owned by hedge funds and other institutional investors.
Plug Power Stock Performance
The firm has a market capitalization of $2.52 billion, a P/E ratio of -1.69 and a beta of 1.56. The firm has a 50-day moving average price of $3.88 and a two-hundred day moving average price of $5.41. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.85 and a quick ratio of 0.86.
Plug Power (NASDAQ:PLUG – Get Free Report) last released its earnings results 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). Plug Power had a negative return on equity of 38.09% and a negative net margin of 153.57%. The business had revenue of $222.20 million for the quarter, compared to the consensus estimate of $234.21 million. During the same quarter last year, the business posted ($0.38) earnings per share. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. On average, analysts forecast that Plug Power Inc. will post -0.96 EPS for the current fiscal year.
Plug Power Company Profile
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.