Jefferies Financial Group Issues Pessimistic Forecast for Plug Power (NASDAQ:PLUG) Stock Price

Plug Power (NASDAQ:PLUG) had its price objective lowered by analysts at Jefferies Financial Group from $1.70 to $0.90 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “hold” rating on the electronics maker’s stock. Jefferies Financial Group’s price target would suggest a potential upside of 17.45% from the stock’s current price.

PLUG has been the subject of several other reports. Morgan Stanley reduced their target price on Plug Power from $1.25 to $0.50 and set an “underweight” rating for the company in a research note on Monday. BMO Capital Markets dropped their price target on Plug Power from $1.60 to $1.40 and set an “underperform” rating for the company in a research note on Wednesday, March 5th. B. Riley decreased their price target on Plug Power from $4.00 to $3.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. Susquehanna decreased their target price on shares of Plug Power from $1.80 to $1.25 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Finally, UBS Group lowered their price objective on Plug Power from $2.50 to $1.75 and set a “neutral” rating for the company in a research note on Friday, March 21st. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $1.83.

Plug Power Stock Performance

PLUG stock opened at $0.77 on Tuesday. The company has a current ratio of 2.08, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. Plug Power has a 1-year low of $0.69 and a 1-year high of $3.55. The business’s 50-day moving average price is $1.08 and its two-hundred day moving average price is $1.75. The firm has a market cap of $826.34 million, a PE ratio of -0.36 and a beta of 2.19.

Plug Power (NASDAQ:PLUG) last released its quarterly earnings results 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 for the quarter, compared to analyst estimates of $130.92 million. As a group, research analysts forecast that Plug Power will post -1.21 earnings per share for the current year.

Insider Buying and Selling at Plug Power

In other news, CFO Paul B. Middleton acquired 350,000 shares of the firm’s stock in a transaction dated Friday, May 16th. The stock was purchased at an average price of $0.72 per share, for a total transaction 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. The trade was a 22.46% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Pacific Sage Partners LLC bought a new stake in shares of Plug Power in the 4th quarter worth $25,000. Oppenheimer & Co. Inc. bought a new stake in shares of Plug Power in the fourth quarter valued at approximately $25,000. Jones Financial Companies Lllp lifted its position in shares of 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 acquiring an additional 6,074 shares in the last quarter. Miracle Mile Advisors LLC bought a new position in Plug Power in the 1st quarter worth about $26,000. Finally, Callan Family Office LLC bought a new position in shares of Plug Power in the fourth quarter valued at approximately $27,000. 43.48% of the stock is currently owned by institutional investors and hedge funds.

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.