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

Plug Power (NASDAQ:PLUG) had its price target cut by stock analysts at Susquehanna from $3.50 to $2.50 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the electronics maker’s stock. Susquehanna’s price objective would indicate a potential upside of 16.82% from the stock’s current price.

A number of other research firms have also weighed in on PLUG. Jefferies Financial Group boosted their target price on Plug Power from $0.90 to $1.60 and gave the company a “hold” rating in a research note on Wednesday, July 23rd. Wall Street Zen cut Plug Power from a “hold” rating to a “sell” rating in a research note on Sunday. HSBC set a $4.40 price objective on Plug Power in a research report on Thursday, October 9th. Canaccord Genuity Group raised their target price on shares of Plug Power from $1.25 to $2.50 and gave the stock a “hold” rating in a report on Tuesday, November 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Plug Power in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have assigned a Hold rating and six have issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $2.42.

Plug Power Trading Up 2.4%

Shares of PLUG opened at $2.14 on Monday. Plug Power has a fifty-two week low of $0.69 and a fifty-two week high of $4.58. The firm has a market cap of $2.47 billion, a price-to-earnings ratio of -0.93 and a beta of 2.28. The firm has a 50 day moving average price of $2.74 and a 200-day moving average price of $1.82. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 1.59.

Plug Power (NASDAQ:PLUG) last issued its earnings results on Monday, November 10th. The electronics maker reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.01. The company had revenue of $177.06 million for the quarter, compared to analysts’ expectations of $185.41 million. Plug Power had a negative net margin of 292.84% and a negative return on equity of 90.22%. Plug Power has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that Plug Power will post -1.21 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Benjamin Haycraft sold 10,000 shares of Plug Power stock in a transaction on Monday, November 10th. The shares were sold at an average price of $2.92, for a total value of $29,200.00. Following the sale, the executive vice president owned 467,583 shares in the company, valued at $1,365,342.36. The trade was a 2.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.41% of the stock is owned by insiders.

Institutional Investors Weigh In On Plug Power

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Plug Power by 7.6% during the 3rd quarter. Vanguard Group Inc. now owns 109,631,956 shares of the electronics maker’s stock valued at $255,442,000 after purchasing an additional 7,789,039 shares in the last quarter. Geode Capital Management LLC boosted its position in Plug Power by 14.9% during the 2nd quarter. Geode Capital Management LLC now owns 24,071,904 shares of the electronics maker’s stock valued at $35,872,000 after acquiring an additional 3,125,542 shares in the last quarter. Heights Capital Management Inc. purchased a new position in shares of Plug Power during the 1st quarter worth approximately $31,174,000. Legal & General Group Plc grew its holdings in shares of Plug Power by 4.2% during the 3rd quarter. Legal & General Group Plc now owns 17,695,077 shares of the electronics maker’s stock worth $41,230,000 after acquiring an additional 714,212 shares during the period. Finally, Two Sigma Investments LP raised its position in shares of Plug Power by 292.1% in the 3rd quarter. Two Sigma Investments LP now owns 10,830,893 shares of the electronics maker’s stock worth $25,236,000 after acquiring an additional 8,068,713 shares in the last quarter. 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.