Piper Sandler Has Lowered Expectations for Plug Power (NASDAQ:PLUG) Stock Price

Plug Power (NASDAQ:PLUG) had its price objective trimmed by Piper Sandler from $1.60 to $1.40 in a research note released on Thursday morning,Benzinga reports. The brokerage currently has an underweight rating on the electronics maker’s stock.

A number of other equities research analysts have also weighed in on PLUG. Wells Fargo & Company dropped their price objective on shares of Plug Power from $3.00 to $2.00 and set an “equal weight” rating on the stock in a report on Thursday. Susquehanna dropped their price objective on shares of Plug Power from $3.00 to $2.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. HC Wainwright reissued a “buy” rating and set a $18.00 price objective on shares of Plug Power in a report on Wednesday, November 13th. BTIG Research lowered shares of Plug Power from a “buy” rating to a “neutral” rating in a report on Thursday. Finally, Evercore ISI lowered their price target on shares of Plug Power from $5.00 to $4.00 and set an “outperform” rating on the stock in a report on Wednesday, November 13th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $4.52.

Plug Power Stock Performance

Shares of PLUG stock opened at $1.87 on Thursday. The business’s fifty day simple moving average is $2.08 and its 200-day simple moving average is $2.40. The company has a market cap of $1.70 billion, a PE ratio of -0.87 and a beta of 1.81. The company has a current ratio of 2.08, a quick ratio of 0.91 and a debt-to-equity ratio of 0.15. Plug Power has a 12-month low of $1.60 and a 12-month high of $5.14.

Plug Power (NASDAQ:PLUG) last announced its quarterly earnings data on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). The company had revenue of $173.70 million for the quarter, compared to analysts’ expectations of $207.25 million. Plug Power had a negative net margin of 214.05% and a negative return on equity of 46.99%. Plug Power’s quarterly revenue was down 12.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.47) earnings per share. Analysts expect that Plug Power will post -1.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Plug Power

Large investors have recently bought and sold shares of the company. SteelPeak Wealth LLC purchased a new position in shares of Plug Power in the second quarter valued at approximately $26,000. Nations Financial Group Inc. IA ADV acquired a new position in Plug Power in the 2nd quarter valued at $26,000. Aire Advisors LLC acquired a new position in Plug Power in the 2nd quarter valued at $28,000. Madison Park Capital Advisors LLC acquired a new position in Plug Power in the 2nd quarter valued at $29,000. Finally, Profund Advisors LLC acquired a new position in Plug Power in the 2nd quarter valued at $29,000. 43.48% of the stock is currently owned by hedge funds and other institutional investors.

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.