Plug Power (NASDAQ:PLUG) Price Target Lowered to $1.40 at BMO Capital Markets

Plug Power (NASDAQ:PLUG) had its target price decreased by investment analysts at BMO Capital Markets from $1.60 to $1.40 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “underperform” rating on the electronics maker’s stock. BMO Capital Markets’ target price suggests a potential downside of 13.31% from the company’s current price.

A number of other research analysts have also recently commented on PLUG. Canaccord Genuity Group dropped their price target on Plug Power from $2.50 to $2.25 and set a “hold” rating for the company in a research note on Wednesday, November 13th. BTIG Research lowered Plug Power from a “buy” rating to a “neutral” rating in a research note on Thursday, November 14th. Piper Sandler lowered their price objective on Plug Power from $1.60 to $1.40 and set an “underweight” rating for the company in a research note on Thursday, November 14th. Evercore ISI cut their target price on shares of Plug Power from $5.00 to $4.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 13th. Finally, Craig Hallum reduced their target price on shares of Plug Power from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Six research analysts have rated the stock with a sell rating, eight have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $2.94.

Plug Power Price Performance

NASDAQ:PLUG traded down $0.01 during trading hours on Wednesday, hitting $1.62. The company’s stock had a trading volume of 6,055,337 shares, compared to its average volume of 67,228,602. The company has a market capitalization of $1.47 billion, a P/E ratio of -0.74 and a beta of 1.79. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.08 and a quick ratio of 0.95. The stock has a fifty day simple moving average of $2.09 and a 200-day simple moving average of $2.11. Plug Power has a twelve month low of $1.37 and a twelve month high of $4.90.

Institutional Investors Weigh In On Plug Power

A number of hedge funds have recently added to or reduced their stakes in PLUG. Pacific Sage Partners LLC bought a new position in shares of Plug Power during the 4th quarter worth approximately $25,000. Oppenheimer & Co. Inc. bought a new stake in Plug Power in the fourth quarter valued at $25,000. Jones Financial Companies Lllp boosted its position in shares of Plug Power by 107.4% during the 4th quarter. Jones Financial Companies Lllp now owns 11,730 shares of the electronics maker’s stock worth $25,000 after purchasing an additional 6,074 shares in the last quarter. Callan Family Office LLC acquired a new stake in shares of Plug Power in the 4th quarter valued at about $27,000. Finally, Ground Swell Capital LLC bought a new stake in Plug Power in the 4th quarter valued at about $27,000. 43.48% of the stock is currently owned by institutional investors.

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.