Plug Power (NASDAQ:PLUG) Stock Price Expected to Rise, Susquehanna Analyst Says

Plug Power (NASDAQ:PLUG) had its target price upped by equities researchers at Susquehanna from $1.00 to $1.80 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the electronics maker’s stock. Susquehanna’s price objective indicates a potential downside of 8.40% from the stock’s current price.

Several other brokerages have also recently issued reports on PLUG. Evercore ISI raised shares of Plug Power to a “strong sell” rating in a report on Tuesday, July 15th. Morgan Stanley reduced their target price on shares of Plug Power from $1.25 to $0.50 and set an “underweight” rating for the company in a report on Monday, May 19th. Jefferies Financial Group lowered their price target on shares of Plug Power from $1.70 to $0.90 and set a “hold” rating on the stock in a report on Tuesday, May 20th. HC Wainwright restated a “buy” rating and set a $3.00 price target on shares of Plug Power in a research report on Monday, March 24th. Finally, Wells Fargo & Company lowered their target price on shares of Plug Power from $2.00 to $1.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 14th. Six research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $1.87.

Plug Power Stock Performance

Shares of PLUG traded up $0.18 during trading hours on Monday, reaching $1.97. 75,620,202 shares of the company traded hands, compared to its average volume of 71,815,033. The stock has a market capitalization of $2.25 billion, a P/E ratio of -0.80 and a beta of 2.29. The company has a quick ratio of 1.07, a current ratio of 1.95 and a debt-to-equity ratio of 0.27. Plug Power has a 12-month low of $0.69 and a 12-month high of $3.32. The business has a fifty day moving average price of $1.16 and a 200-day moving average price of $1.45.

Plug Power (NASDAQ:PLUG) last announced its quarterly earnings data on Monday, May 12th. The electronics maker reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). The company had revenue of $133.67 million for the quarter, compared to analysts’ expectations of $130.92 million. Plug Power had a negative net margin of 312.29% and a negative return on equity of 82.21%. Equities analysts anticipate that Plug Power will post -1.21 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Paul B. Middleton bought 650,000 shares of the company’s stock in a transaction on Monday, June 9th. The stock was bought at an average cost of $1.03 per share, for a total transaction of $669,500.00. Following the acquisition, the insider directly owned 2,558,064 shares in the company, valued at $2,634,805.92. This represents a 34.07% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.41% of the company’s stock.

Institutional Investors Weigh In On Plug Power

Hedge funds have recently modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in Plug Power in the fourth quarter valued at $344,000. PNC Financial Services Group Inc. raised its position in Plug Power by 53.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 15,410 shares of the electronics maker’s stock valued at $33,000 after purchasing an additional 5,348 shares during the period. Cibc World Markets Corp purchased a new position in shares of Plug Power during the 4th quarter worth approximately $159,000. Xponance Inc. boosted its position in shares of Plug Power by 17.0% during the 4th quarter. Xponance Inc. now owns 57,264 shares of the electronics maker’s stock worth $122,000 after purchasing an additional 8,313 shares during the period. Finally, Virtu Financial LLC purchased a new position in shares of Plug Power during the 4th quarter worth approximately $172,000. Hedge funds and other institutional investors own 43.48% of the company’s stock.

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.