Jefferies Financial Group Lowers Plug Power (NASDAQ:PLUG) Price Target to $2.00

Plug Power (NASDAQ:PLUG) had its price objective trimmed by Jefferies Financial Group from $2.20 to $2.00 in a research report report published on Thursday, Benzinga reports. The brokerage currently has a hold rating on the electronics maker’s stock.

PLUG has been the topic of a number of other reports. Truist Financial lowered their target price on shares of Plug Power from $3.00 to $2.00 and set a hold rating on the stock in a research note on Monday, August 12th. Susquehanna dropped their price objective on shares of Plug Power from $3.00 to $2.00 and set a neutral rating for the company in a report on Monday, August 12th. Craig Hallum cut their target price on shares of Plug Power from $5.00 to $4.00 and set a buy rating for the company in a research report on Friday, August 9th. Canaccord Genuity Group lowered their price target on Plug Power from $3.00 to $2.50 and set a hold rating on the stock in a research report on Monday, August 12th. Finally, Royal Bank of Canada cut their price objective on Plug Power from $3.50 to $2.50 and set a sector perform rating for the company in a report on Monday, August 12th. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Hold and a consensus target price of $5.01.

Plug Power Stock Up 4.4 %

PLUG opened at $2.15 on Thursday. The firm has a market capitalization of $1.60 billion, a P/E ratio of -0.90 and a beta of 1.79. Plug Power has a one year low of $1.60 and a one year high of $7.90. The company has a fifty day moving average price of $2.06 and a 200-day moving average price of $2.59. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.07 and a quick ratio of 0.91.

Plug Power (NASDAQ:PLUG) last posted its earnings results on Thursday, August 8th. The electronics maker reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.06). Plug Power had a negative return on equity of 47.51% and a negative net margin of 216.80%. The business had revenue of $143.40 million for the quarter, compared to analysts’ expectations of $184.54 million. During the same quarter in the previous year, the firm earned ($0.35) earnings per share. Plug Power’s quarterly revenue was down 44.9% compared to the same quarter last year. Equities research analysts expect that Plug Power will post -1.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Plug Power

A number of hedge funds have recently modified their holdings of PLUG. Treasurer of the State of North Carolina increased its stake in shares of Plug Power by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 233,192 shares of the electronics maker’s stock worth $1,049,000 after acquiring an additional 2,280 shares in the last quarter. Pitcairn Co. increased its stake in shares of Plug Power by 27.1% during the first quarter. Pitcairn Co. now owns 19,561 shares of the electronics maker’s stock valued at $67,000 after purchasing an additional 4,169 shares in the last quarter. Cetera Advisors LLC lifted its holdings in shares of Plug Power by 33.0% during the first quarter. Cetera Advisors LLC now owns 27,733 shares of the electronics maker’s stock valued at $95,000 after purchasing an additional 6,885 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Plug Power by 11.0% during the first quarter. Advisors Asset Management Inc. now owns 70,442 shares of the electronics maker’s stock valued at $242,000 after purchasing an additional 7,006 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Plug Power by 8.6% in the 2nd quarter. Victory Capital Management Inc. now owns 88,102 shares of the electronics maker’s stock worth $205,000 after purchasing an additional 7,014 shares in the last quarter. 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.