Shares of Plug Power Inc. (NASDAQ:PLUG – Get Free Report) were down 3.7% during trading on Thursday after Jefferies Financial Group lowered their price target on the stock from $2.20 to $2.00. Jefferies Financial Group currently has a hold rating on the stock. Plug Power traded as low as $2.06 and last traded at $2.08. Approximately 7,152,008 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 39,304,395 shares. The stock had previously closed at $2.16.
Other equities analysts have also issued research reports about the stock. Canaccord Genuity Group reduced their price target on shares of Plug Power from $3.00 to $2.50 and set a “hold” rating for the company in a research report on Monday, August 12th. Truist Financial lowered their price target on Plug Power from $3.00 to $2.00 and set a “hold” rating for the company in a research report on Monday, August 12th. Wells Fargo & Company cut their price target on Plug Power from $4.00 to $3.00 and set an “equal weight” rating for the company in a research note on Friday, August 9th. Royal Bank of Canada cut their price objective on Plug Power from $3.50 to $2.50 and set a “sector perform” rating for the company in a research note on Monday, August 12th. Finally, Susquehanna cut their price objective on Plug Power from $3.00 to $2.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $5.01.
Get Our Latest Stock Analysis on PLUG
Institutional Inflows and Outflows
Plug Power Trading Down 5.1 %
The company has a fifty day simple moving average of $2.07 and a two-hundred day simple moving average of $2.60. The company has a quick ratio of 0.91, a current ratio of 2.07 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $1.80 billion, a P/E ratio of -0.86 and a beta of 1.79.
Plug Power (NASDAQ:PLUG – Get Free Report) last posted its earnings results on Thursday, August 8th. The electronics maker reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.06). The business had revenue of $143.40 million for the quarter, compared to the consensus estimate of $184.54 million. Plug Power had a negative return on equity of 47.51% and a negative net margin of 216.80%. The business’s revenue was down 44.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.35) earnings per share. On average, sell-side analysts expect that Plug Power Inc. will post -1.15 earnings per share for the current year.
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.
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