Plug Power (NASDAQ:PLUG) Price Target Cut to $0.50 by Analysts at Morgan Stanley

Plug Power (NASDAQ:PLUG - Get Free Report) had its price target reduced by investment analysts at Morgan Stanley from $1.25 to $0.50 in a note issued to investors on Monday,Benzinga reports. The firm presently has an "underweight" rating on the electronics maker's stock. Morgan Stanley's price objective suggests a potential downside of 37.26% from the stock's previous close.

PLUG has been the subject of a number of other research reports. Seaport Res Ptn downgraded Plug Power from a "hold" rating to a "strong sell" rating in a research report on Monday, January 27th. HC Wainwright reiterated a "buy" rating and set a $3.00 price objective on shares of Plug Power in a report on Monday, March 24th. B. Riley decreased their target price on Plug Power from $4.00 to $3.00 and set a "buy" rating for the company in a research report on Wednesday, March 5th. Roth Capital restated a "buy" rating on shares of Plug Power in a research report on Tuesday, May 13th. Finally, Canaccord Genuity Group dropped their price target on shares of Plug Power from $1.25 to $1.00 and set a "hold" rating for the company in a research report on Tuesday, May 13th. Five equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $1.91.

Plug Power Stock Up 3.2%

Shares of Plug Power stock traded up $0.02 during trading on Monday, reaching $0.80. The company had a trading volume of 112,224,626 shares, compared to its average volume of 58,862,690. The firm's fifty day moving average is $1.13 and its 200-day moving average is $1.77. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 2.08. Plug Power has a fifty-two week low of $0.69 and a fifty-two week high of $3.55. The company has a market cap of $859.44 million, a price-to-earnings ratio of -0.37 and a beta of 2.19.

Plug Power (NASDAQ:PLUG - Get Free Report) last issued its quarterly earnings data 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 net margin of 214.05% and a negative return on equity of 46.99%. The company had revenue of $133.67 million for the quarter, compared to the consensus estimate of $130.92 million. On average, analysts anticipate that Plug Power will post -1.21 EPS for the current year.

Hedge Funds Weigh In On Plug Power

A number of institutional investors have recently bought and sold shares of PLUG. Arkadios Wealth Advisors raised its position in shares of Plug Power by 88.0% in the fourth quarter. Arkadios Wealth Advisors now owns 62,082 shares of the electronics maker's stock valued at $132,000 after purchasing an additional 29,062 shares during the period. ACT Wealth Management LLC lifted its position in Plug Power by 71.4% during the fourth quarter. ACT Wealth Management LLC now owns 24,000 shares of the electronics maker's stock worth $51,000 after acquiring an additional 10,000 shares during the last quarter. Sustainable Insight Capital Management LLC bought a new stake in shares of Plug Power during the fourth quarter worth approximately $79,000. PFG Investments LLC grew its position in shares of Plug Power by 16.8% in the fourth quarter. PFG Investments LLC now owns 467,836 shares of the electronics maker's stock valued at $996,000 after purchasing an additional 67,251 shares during the last quarter. Finally, Swedbank AB increased its stake in shares of Plug Power by 39.7% during the fourth quarter. Swedbank AB now owns 235,233 shares of the electronics maker's stock worth $501,000 after purchasing an additional 66,844 shares during the period. Institutional investors and hedge funds own 43.48% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.