Plug Power (NASDAQ:PLUG) Price Target Cut to $0.90 by Analysts at Jefferies Financial Group

Plug Power (NASDAQ:PLUG - Get Free Report) had its target price dropped by equities research analysts at Jefferies Financial Group from $1.70 to $0.90 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a "hold" rating on the electronics maker's stock. Jefferies Financial Group's price objective indicates a potential upside of 14.10% from the stock's current price.

A number of other research analysts have also weighed in on the stock. B. Riley dropped their price target on shares of Plug Power from $4.00 to $3.00 and set a "buy" rating on the stock in a research report on Wednesday, March 5th. Roth Capital reiterated a "buy" rating on shares of Plug Power in a report on Tuesday, May 13th. Piper Sandler cut their price objective on shares of Plug Power from $1.10 to $0.80 and set an "underweight" rating on the stock in a research report on Wednesday, May 14th. UBS Group dropped their price objective on shares of Plug Power from $2.50 to $1.75 and set a "neutral" rating on the stock in a report on Friday, March 21st. Finally, Morgan Stanley reduced their price objective on shares of Plug Power from $1.25 to $0.50 and set an "underweight" rating on the stock in a research report on Monday. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, Plug Power presently has a consensus rating of "Hold" and a consensus price target of $1.83.

Plug Power Stock Performance

NASDAQ:PLUG opened at $0.79 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $850.60 million, a PE ratio of -0.37 and a beta of 2.19. Plug Power has a 12-month low of $0.69 and a 12-month high of $3.55. The firm has a 50-day moving average price of $1.11 and a 200 day moving average price of $1.76.

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

Insiders Place Their Bets

In other Plug Power news, CFO Paul B. Middleton purchased 350,000 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was bought at an average cost of $0.72 per share, with a total value of $252,000.00. Following the purchase, the chief financial officer now directly owns 1,908,064 shares of the company's stock, valued at $1,373,806.08. The trade was a 22.46% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.70% of the company's stock.

Institutional Investors Weigh In On Plug Power

A number of institutional investors have recently modified their holdings of PLUG. Pacific Sage Partners LLC acquired a new position in shares of Plug Power in the fourth quarter valued at approximately $25,000. Oppenheimer & Co. Inc. purchased a new stake in Plug Power in the 4th quarter valued at $25,000. Jones Financial Companies Lllp raised its position in Plug Power by 107.4% in the 4th quarter. Jones Financial Companies Lllp now owns 11,730 shares of the electronics maker's stock valued at $25,000 after buying an additional 6,074 shares during the last quarter. Miracle Mile Advisors LLC purchased a new stake in shares of Plug Power during the 1st quarter valued at $26,000. Finally, Callan Family Office LLC purchased a new stake in shares of Plug Power during the 4th quarter valued at $27,000. Institutional investors 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.

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