Plug Power (NASDAQ:PLUG) Price Target Lowered to $1.80 at Susquehanna

Plug Power (NASDAQ:PLUG) had its price objective lowered by Susquehanna from $2.50 to $1.80 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the electronics maker’s stock.

Several other equities research analysts have also recently weighed in on the stock. StockNews.com raised shares of Plug Power to a “sell” rating in a research report on Tuesday. Evercore ISI dropped their price target on shares of Plug Power from $5.00 to $4.00 and set an “outperform” rating for the company in a research report on Wednesday, November 13th. Wells Fargo & Company cut their target price on shares of Plug Power from $3.00 to $2.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 14th. BTIG Research lowered shares of Plug Power from a “buy” rating to a “neutral” rating in a research note on Thursday, November 14th. Finally, Canaccord Genuity Group cut their target price on shares of Plug Power from $2.50 to $2.25 and set a “hold” rating on the stock in a research note on Wednesday, November 13th. Six equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Plug Power has an average rating of “Hold” and a consensus target price of $2.40.

Plug Power Trading Up 4.3 %

Shares of PLUG opened at $1.69 on Wednesday. The stock has a market capitalization of $1.54 billion, a P/E ratio of -0.79 and a beta of 1.79. The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15. The firm has a fifty day simple moving average of $2.09 and a two-hundred 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 Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Nations Financial Group Inc. IA ADV raised its holdings in Plug Power by 42.3% in the third quarter. Nations Financial Group Inc. IA ADV now owns 15,798 shares of the electronics maker’s stock worth $36,000 after buying an additional 4,700 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Plug Power by 53.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 15,410 shares of the electronics maker’s stock worth $33,000 after buying an additional 5,348 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Plug Power by 0.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 803,881 shares of the electronics maker’s stock worth $1,817,000 after buying an additional 5,485 shares during the last quarter. Compagnie Lombard Odier SCmA raised its holdings in Plug Power by 12.8% in the fourth quarter. Compagnie Lombard Odier SCmA now owns 49,000 shares of the electronics maker’s stock worth $104,000 after buying an additional 5,550 shares during the last quarter. Finally, Catalyst Capital Advisors LLC raised its holdings in shares of Plug Power by 79.9% during the third quarter. Catalyst Capital Advisors LLC now owns 12,681 shares of the electronics maker’s stock valued at $29,000 after purchasing an additional 5,631 shares during the last quarter. 43.48% of the stock is owned by hedge funds and other 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.