Susquehanna Issues Pessimistic Forecast for Plug Power (NASDAQ:PLUG) Stock Price

Key Points

• Susquehanna cut its price target on Plug Power from $3.75 to $2.50 while keeping a neutral rating, implying only about 5% upside from the prior close.
• Analyst sentiment remains mixed, with the stock carrying an average Hold rating and a consensus target price of $3.30 after several recent brokerage updates.
• Plug Power posted better-than-expected quarterly results, beating EPS and revenue estimates, but it still reported wide losses and analysts expect a loss for the current fiscal year.

Plug Power (NASDAQ:PLUG - Get Free Report) had its price target decreased by investment analysts at Susquehanna from $3.75 to $2.50 in a report released on Friday,Benzinga reports. The firm currently has a "neutral" rating on the electronics maker's stock. Susquehanna's price objective indicates a potential upside of 5.04% from the stock's previous close.

Several other brokerages have also recently commented on PLUG. TD Cowen boosted their price target on shares of Plug Power from $2.00 to $3.00 and gave the stock a "hold" rating in a research report on Tuesday, May 12th. Wall Street Zen upgraded Plug Power from a "sell" rating to a "hold" rating in a report on Monday, June 29th. Wells Fargo & Company lifted their target price on Plug Power from $2.00 to $2.50 and gave the company an "equal weight" rating in a research report on Tuesday, May 19th. BMO Capital Markets upped their target price on Plug Power from $1.00 to $1.20 and gave the stock an "underperform" rating in a report on Tuesday, May 12th. Finally, Weiss Ratings cut Plug Power from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Thursday, June 25th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $3.30.

Plug Power Trading Down 3.3%

NASDAQ PLUG opened at $2.38 on Friday. Plug Power has a 52 week low of $1.39 and a 52 week high of $4.58. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.40 and a current ratio of 2.36. The stock's 50 day moving average price is $3.18 and its two-hundred day moving average price is $2.61. The stock has a market capitalization of $3.32 billion, a price-to-earnings ratio of -1.80 and a beta of 2.16.

Plug Power (NASDAQ:PLUG - Get Free Report) last issued its quarterly earnings results on Monday, May 11th. The electronics maker reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.01. The company had revenue of $163.51 million during the quarter, compared to analysts' expectations of $139.87 million. Plug Power had a negative net margin of 227.13% and a negative return on equity of 49.30%. The business's quarterly revenue was up 22.3% on a year-over-year basis. During the same period last year, the business earned ($0.21) EPS. As a group, analysts anticipate that Plug Power will post -0.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its stake in Plug Power by 116.7% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 13,000 shares of the electronics maker's stock valued at $26,000 after purchasing an additional 7,000 shares during the last quarter. Sender Co & Partners Inc. bought a new stake in Plug Power in the second quarter valued at approximately $26,000. Procyon Advisors LLC bought a new stake in Plug Power in the fourth quarter valued at approximately $29,000. DUTCH ASSET Corp acquired a new stake in shares of Plug Power in the fourth quarter valued at approximately $29,000. Finally, Independent Advisor Alliance acquired a new stake in shares of Plug Power in the fourth quarter valued at approximately $30,000. 43.48% of the stock is currently owned by institutional investors and hedge funds.

Plug Power Company Profile

Plug Power Inc is a U.S.-based company specializing in the design and manufacture of hydrogen fuel cell systems that serve as clean energy replacements for conventional batteries in electric vehicles and material handling equipment. Its core solutions include ProGen fuel cell engines, GenDrive power systems for forklifts and warehouse vehicles, and GenFuel hydrogen refueling infrastructure. These offerings are sold as standalone components or integrated turnkey solutions under the GenKey brand, providing customers with on-site refueling, equipment installation and maintenance services.

In addition to its fuel cell and refueling products, Plug Power develops backup power and off-grid energy solutions through its GenSure line, which targets telecommunications, data centers and utility applications.

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