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 reduced by investment analysts at Jefferies Financial Group from $1.70 to $0.90 in a report issued on Tuesday,Benzinga reports. The firm presently has a "hold" rating on the electronics maker's stock. Jefferies Financial Group's price target would indicate a potential upside of 15.38% from the company's current price.

PLUG has been the topic of a number of other reports. HC Wainwright restated a "buy" rating and issued a $3.00 price objective on shares of Plug Power in a report on Monday, March 24th. Wells Fargo & Company reduced their price target on shares of Plug Power from $2.00 to $1.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 14th. Roth Capital reissued a "buy" rating on shares of Plug Power in a research report on Tuesday, May 13th. Morgan Stanley reduced their price target on shares of Plug Power from $1.25 to $0.50 and set an "underweight" rating for the company in a research report on Monday, May 19th. Finally, Canaccord Genuity Group reduced 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 research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, Plug Power presently has a consensus rating of "Hold" and a consensus target price of $1.83.

Plug Power Stock Down 2.5%

Shares of PLUG traded down $0.02 during midday trading on Tuesday, reaching $0.78. The stock had a trading volume of 102,298,944 shares, compared to its average volume of 60,846,578. Plug Power has a 1-year low of $0.69 and a 1-year high of $3.55. The company's fifty day simple moving average is $1.04 and its two-hundred day simple moving average is $1.73. The company has a market cap of $841.11 million, a price-to-earnings ratio of -0.36 and a beta of 2.19. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.08 and a quick ratio of 0.95.

Plug Power (NASDAQ:PLUG - Get Free Report) last announced 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 firm had revenue of $133.67 million during the quarter, compared to analyst estimates of $130.92 million. Equities research analysts expect that Plug Power will post -1.21 earnings per share for the current year.

Insider Transactions at Plug Power

In other news, CFO Paul B. Middleton purchased 350,000 shares of the company's stock in a transaction dated Friday, May 16th. The shares were acquired at an average cost of $0.72 per share, for a total transaction of $252,000.00. Following the completion of the purchase, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.70% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in PLUG. Norges Bank acquired a new position in shares of Plug Power during the fourth quarter worth about $146,465,000. Heights Capital Management Inc. acquired a new position in shares of Plug Power during the first quarter worth about $31,174,000. Point72 Asset Management L.P. acquired a new position in shares of Plug Power during the fourth quarter worth about $10,370,000. Vanguard Group Inc. increased its stake in shares of Plug Power by 5.4% during the fourth quarter. Vanguard Group Inc. now owns 87,438,503 shares of the electronics maker's stock worth $186,244,000 after acquiring an additional 4,491,114 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in shares of Plug Power during the fourth quarter worth about $6,235,000. 43.48% of the stock is currently owned by institutional investors and hedge funds.

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.