Plug Power (NASDAQ:PLUG) Price Target Lowered to $3.00 at HC Wainwright

Plug Power (NASDAQ:PLUG) had its target price cut by HC Wainwright from $5.00 to $3.00 in a research note released on Wednesday morning,Benzinga reports. They currently have a buy rating on the electronics maker’s stock.

PLUG has been the topic of several other research reports. StockNews.com raised Plug Power to a “sell” rating in a research report on Tuesday. Craig Hallum decreased their target price on Plug Power from $4.00 to $3.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Susquehanna upped their target price on Plug Power from $2.00 to $2.50 and gave the company a “neutral” rating in a research report on Thursday, January 16th. Wells Fargo & Company decreased their target price on Plug Power from $3.00 to $2.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 14th. Finally, BTIG Research downgraded Plug Power from a “buy” rating to a “neutral” rating in a research report on Thursday, November 14th. Six research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Plug Power currently has an average rating of “Hold” and a consensus price target of $2.40.

Plug Power Price Performance

Plug Power stock opened at $1.69 on Wednesday. Plug Power has a 12 month low of $1.37 and a 12 month high of $4.90. The stock’s 50 day moving average is $2.09 and its 200-day moving average is $2.11. The company has a current ratio of 2.08, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of -0.79 and a beta of 1.79.

Institutional Investors Weigh In On Plug Power

Several institutional investors and hedge funds have recently added to or reduced their stakes in PLUG. Creative Planning lifted its stake in Plug Power by 35.9% during the third quarter. Creative Planning now owns 115,614 shares of the electronics maker’s stock worth $261,000 after purchasing an additional 30,552 shares during the last quarter. Private Advisor Group LLC lifted its stake in Plug Power by 53.2% during the third quarter. Private Advisor Group LLC now owns 65,594 shares of the electronics maker’s stock worth $148,000 after purchasing an additional 22,770 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Plug Power by 135.7% during the third quarter. International Assets Investment Management LLC now owns 23,201 shares of the electronics maker’s stock worth $52,000 after purchasing an additional 13,357 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Plug Power by 23.6% in the 3rd quarter. Van ECK Associates Corp now owns 4,232,001 shares of the electronics maker’s stock valued at $8,803,000 after acquiring an additional 809,187 shares during the last quarter. Finally, QRG Capital Management Inc. bought a new position in shares of Plug Power in the 3rd quarter valued at $204,000. 43.48% of the stock is currently owned by institutional investors.

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.