Plug Power (NASDAQ:PLUG) PT Lowered to $20.00

Plug Power (NASDAQ:PLUGGet Rating) had its price target decreased by Citigroup to $20.00 in a research note issued to investors on Monday, Stock Target Advisor reports. Citigroup currently has a na rating on the electronics maker’s stock.

Several other analysts have also recently weighed in on PLUG. Canaccord Genuity Group dropped their price objective on shares of Plug Power from $25.00 to $21.00 in a research note on Monday, March 7th. Zacks Investment Research cut shares of Plug Power from a hold rating to a sell rating in a research note on Tuesday, March 29th. Wells Fargo & Company dropped their price objective on shares of Plug Power from $40.00 to $26.00 in a research note on Thursday, January 20th. Canaccord Genuity Group dropped their price objective on shares of Plug Power from $25.00 to $21.00 and set a hold rating for the company in a research note on Monday, March 7th. Finally, Susquehanna dropped their target price on shares of Plug Power from $33.00 to $30.00 in a research report on Tuesday, May 10th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Buy and an average target price of $35.58.

NASDAQ PLUG opened at $14.50 on Monday. The firm has a 50-day moving average of $24.20 and a 200-day moving average of $27.60. The company has a debt-to-equity ratio of 0.12, a quick ratio of 9.94 and a current ratio of 11.44. The stock has a market cap of $8.38 billion, a PE ratio of -14.95 and a beta of 1.72. Plug Power has a 52-week low of $12.70 and a 52-week high of $46.50.

Plug Power (NASDAQ:PLUGGet Rating) last posted its earnings results on Monday, May 9th. The electronics maker reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.11). The company had revenue of $140.80 million for the quarter, compared to analyst estimates of $142.99 million. Plug Power had a negative return on equity of 11.78% and a negative net margin of 97.29%. The business’s quarterly revenue was up 95.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.12) EPS. As a group, analysts predict that Plug Power will post -0.61 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Impax Asset Management Group plc grew its holdings in Plug Power by 2.5% during the 3rd quarter. Impax Asset Management Group plc now owns 13,443 shares of the electronics maker’s stock worth $343,000 after acquiring an additional 328 shares during the last quarter. Webster Bank N. A. grew its holdings in Plug Power by 62.4% during the 1st quarter. Webster Bank N. A. now owns 1,015 shares of the electronics maker’s stock worth $29,000 after acquiring an additional 390 shares during the last quarter. Flputnam Investment Management Co. grew its holdings in Plug Power by 6.2% during the 4th quarter. Flputnam Investment Management Co. now owns 8,361 shares of the electronics maker’s stock worth $236,000 after acquiring an additional 485 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Plug Power by 5.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 10,058 shares of the electronics maker’s stock worth $284,000 after purchasing an additional 488 shares during the period. Finally, Vigilant Capital Management LLC lifted its position in shares of Plug Power by 9.5% in the 1st quarter. Vigilant Capital Management LLC now owns 5,750 shares of the electronics maker’s stock worth $165,000 after purchasing an additional 500 shares during the period. 52.07% of the stock is currently owned by hedge funds and other institutional investors.

About Plug Power (Get Rating)

Plug Power Inc provides hydrogen fuel cell turnkey solutions for the mobility, material handling, and stationary power markets in North America and internationally. It focuses on proton exchange membrane (PEM) fuel cell and fuel processing technologies, and fuel cell/battery hybrid technologies, as well as related hydrogen and green hydrogen generation, storage, and dispensing infrastructure.

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Analyst Recommendations for Plug Power (NASDAQ:PLUG)

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