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

Plug Power (NASDAQ:PLUG) had its price target reduced by BMO Capital Markets from $1.60 to $1.40 in a research note issued to investors on Wednesday,Benzinga reports. BMO Capital Markets currently has an underperform rating on the electronics maker’s stock.

A number of other analysts have also recently commented on PLUG. BTIG Research cut shares of Plug Power from a “buy” rating to a “neutral” rating in a research note on Thursday, November 14th. Susquehanna raised their price target on shares of Plug Power from $2.00 to $2.50 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. HC Wainwright reduced their price target on shares of Plug Power from $5.00 to $3.00 and set a “buy” rating for the company in a research report on Wednesday. Seaport Res Ptn lowered shares of Plug Power from a “hold” rating to a “strong sell” rating in a research report on Monday, January 27th. Finally, StockNews.com raised shares of Plug Power to a “sell” rating in a research report on Tuesday. Six research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $2.40.

Plug Power Stock Up 4.3 %

PLUG stock opened at $1.69 on Wednesday. The firm has a 50 day moving average of $2.09 and a 200 day moving average of $2.11. The stock has a market capitalization of $1.54 billion, a PE 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. Plug Power has a 52 week low of $1.37 and a 52 week high of $4.90.

Hedge Funds Weigh In On Plug Power

Several institutional investors have recently made changes to their positions in the company. Pacific Sage Partners LLC purchased a new stake in Plug Power in the 4th quarter worth $25,000. Oppenheimer & Co. Inc. purchased a new stake in Plug Power in the 4th quarter worth $25,000. Jones Financial Companies Lllp increased its holdings in Plug Power by 107.4% in the 4th quarter. Jones Financial Companies Lllp now owns 11,730 shares of the electronics maker’s stock worth $25,000 after acquiring an additional 6,074 shares in the last quarter. Callan Family Office LLC purchased a new stake in Plug Power in the 4th quarter worth $27,000. Finally, Ground Swell Capital LLC purchased a new stake in Plug Power in the 4th quarter worth $27,000. 43.48% of the stock is owned by hedge funds and other 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.