Plug Power (NASDAQ:PLUG) Given New $3.00 Price Target at B. Riley

Plug Power (NASDAQ:PLUG) had its price objective cut by stock analysts at B. Riley from $4.00 to $3.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the electronics maker’s stock. B. Riley’s price objective suggests a potential upside of 83.49% from the stock’s previous close. B. Riley also issued estimates for Plug Power’s Q4 2024 earnings at ($0.25) EPS, FY2024 earnings at ($1.27) EPS, FY2025 earnings at ($0.60) EPS and FY2026 earnings at ($0.41) EPS.

PLUG has been the topic of several other reports. Canaccord Genuity Group decreased their price objective on shares of Plug Power from $2.50 to $2.25 and set a “hold” rating on the stock in a research report on Wednesday, November 13th. BTIG Research cut Plug Power from a “buy” rating to a “neutral” rating in a report on Thursday, November 14th. Seaport Res Ptn downgraded Plug Power from a “hold” rating to a “strong sell” rating in a research note on Monday, January 27th. BMO Capital Markets cut their price objective on Plug Power from $1.60 to $1.40 and set an “underperform” rating for the company in a research report on Wednesday. Finally, Evercore ISI cut their target price on shares of Plug Power from $5.00 to $4.00 and set an “outperform” rating for the company in a report on Wednesday, November 13th. Six equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $2.85.

Plug Power Stock Performance

NASDAQ:PLUG traded up $0.02 during mid-day trading on Wednesday, hitting $1.64. 39,118,348 shares of the company traded hands, compared to its average volume of 68,051,406. The stock’s fifty day moving average price is $2.09 and its 200-day moving average price is $2.11. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of -0.76 and a beta of 1.79. Plug Power has a one year low of $1.37 and a one year high of $4.90. The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15.

Institutional Trading of Plug Power

A number of hedge funds have recently bought and sold shares of PLUG. Pacific Sage Partners LLC bought a new position in shares of Plug Power in the 4th quarter worth $25,000. Oppenheimer & Co. Inc. bought a new position in Plug Power in the fourth quarter worth about $25,000. Jones Financial Companies Lllp lifted its position in shares of Plug Power by 107.4% during the fourth 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. Callan Family Office LLC bought a new stake in shares of Plug Power in the 4th quarter valued at about $27,000. Finally, Ground Swell Capital LLC purchased a new position in shares of Plug Power in the 4th quarter worth approximately $27,000. Hedge funds and other institutional investors own 43.48% of the company’s stock.

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.