Plug Power (NASDAQ:PLUG) Given New $0.80 Price Target at Piper Sandler

Plug Power (NASDAQ:PLUG) had its target price reduced by Piper Sandler from $1.10 to $0.80 in a research report report published on Wednesday morning,Benzinga reports. Piper Sandler currently has an underweight rating on the electronics maker’s stock.

A number of other equities research analysts also recently issued reports on PLUG. BMO Capital Markets cut their price objective on shares of Plug Power from $1.60 to $1.40 and set an “underperform” rating for the company in a research report on Wednesday, March 5th. HC Wainwright reiterated a “buy” rating and issued a $3.00 price target on shares of Plug Power in a research note on Monday, March 24th. Seaport Res Ptn cut shares of Plug Power from a “hold” rating to a “strong sell” rating in a research report on Monday, January 27th. StockNews.com upgraded shares of Plug Power to a “sell” rating in a research report on Tuesday. Finally, Truist Financial reduced their price objective on shares of Plug Power from $2.00 to $1.50 and set a “hold” rating on the stock in a research report on Wednesday, March 5th. Five analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Plug Power presently has an average rating of “Hold” and an average target price of $1.99.

Plug Power Price Performance

Shares of NASDAQ PLUG opened at $0.77 on Wednesday. Plug Power has a twelve month low of $0.69 and a twelve month high of $3.55. The firm has a market cap of $790.10 million, a P/E ratio of -0.36 and a beta of 2.19. The company has a 50 day moving average of $1.13 and a 200 day moving average of $1.77. The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15.

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). Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. The firm had revenue of $133.67 million during the quarter, compared to analysts’ expectations of $130.92 million. As a group, research analysts expect that Plug Power will post -1.21 EPS for the current fiscal year.

Institutional Investors Weigh In On Plug Power

A number of large investors have recently modified their holdings of PLUG. Oppenheimer & Co. Inc. acquired a new position in shares of Plug Power in the 4th quarter valued at $25,000. Pacific Sage Partners LLC acquired a new stake in shares of Plug Power in the 4th quarter worth $25,000. Jones Financial Companies Lllp lifted its stake in shares of Plug Power by 107.4% in the 4th quarter. Jones Financial Companies Lllp now owns 11,730 shares of the electronics maker’s stock worth $25,000 after acquiring an additional 6,074 shares during the period. Callan Family Office LLC acquired a new stake in shares of Plug Power in the 4th quarter worth $27,000. Finally, Ground Swell Capital LLC purchased a new position in shares of Plug Power in the 4th quarter valued at about $27,000. 43.48% of the stock is owned by hedge funds and other institutional investors.

About Plug Power

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.