Plug Power (NASDAQ:PLUG) Price Target Lowered to $0.50 at Morgan Stanley

Plug Power (NASDAQ:PLUG) had its price objective cut by Morgan Stanley from $1.25 to $0.50 in a report issued on Monday morning,Benzinga reports. They currently have an underweight rating on the electronics maker’s stock.

A number of other equities research analysts have also recently commented on the company. Truist Financial dropped their price target on Plug Power from $2.00 to $1.50 and set a “hold” rating for the company in a research report on Wednesday, March 5th. B. Riley reduced their target price on shares of Plug Power from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. BMO Capital Markets lowered their price target on shares of Plug Power from $1.60 to $1.40 and set an “underperform” rating for the company in a report on Wednesday, March 5th. Seaport Res Ptn downgraded shares of Plug Power from a “hold” rating to a “strong sell” rating in a research note on Monday, January 27th. Finally, Susquehanna lowered their target price on shares of Plug Power from $1.80 to $1.25 and set a “neutral” rating for the company in a research note on Monday, April 14th. 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.com, the company has an average rating of “Hold” and an average target price of $1.91.

Plug Power Stock Performance

NASDAQ:PLUG opened at $0.79 on Monday. 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 has a fifty-two week low of $0.69 and a fifty-two week high of $3.55. The firm’s fifty day simple moving average is $1.11 and its 200-day simple moving average is $1.76. The stock has a market cap of $850.60 million, a PE ratio of -0.37 and a beta of 2.19.

Plug Power (NASDAQ:PLUG) last issued its earnings results on Monday, May 12th. The electronics maker reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). The company had revenue of $133.67 million during the quarter, compared to analysts’ expectations of $130.92 million. Plug Power had a negative net margin of 214.05% and a negative return on equity of 46.99%. Analysts expect that Plug Power will post -1.21 earnings per share for the current fiscal year.

Insider Buying and Selling at Plug Power

In other news, CFO Paul B. Middleton acquired 350,000 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was purchased at an average cost of $0.72 per share, with a total value of $252,000.00. Following the completion of the acquisition, the chief financial officer now directly owns 1,908,064 shares in the company, valued at $1,373,806.08. This represents a 22.46% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Plug Power

A number of institutional investors and hedge funds have recently modified their holdings of the business. Pacific Sage Partners LLC acquired a new stake in shares of Plug Power in the 4th quarter worth about $25,000. Oppenheimer & Co. Inc. acquired a new position in shares of Plug Power during the fourth quarter valued at approximately $25,000. Jones Financial Companies Lllp raised its holdings in Plug Power by 107.4% during the fourth quarter. Jones Financial Companies Lllp now owns 11,730 shares of the electronics maker’s stock worth $25,000 after purchasing an additional 6,074 shares in the last quarter. Miracle Mile Advisors LLC acquired a new stake in Plug Power in the first quarter worth approximately $26,000. Finally, Callan Family Office LLC bought a new position in Plug Power during the 4th quarter valued at $27,000. 43.48% of the stock is owned by institutional investors and hedge funds.

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.