Piper Sandler Lowers Plug Power (NASDAQ:PLUG) Price Target to $1.10

Plug Power (NASDAQ:PLUG) had its price target lowered by analysts at Piper Sandler from $1.40 to $1.10 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “underweight” rating on the electronics maker’s stock. Piper Sandler’s price target suggests a potential downside of 33.33% from the company’s previous close.

Other analysts have also issued research reports about the stock. BTIG Research lowered shares of Plug Power from a “buy” rating to a “neutral” rating in a research report on Thursday, November 14th. Seaport Res Ptn lowered Plug Power from a “hold” rating to a “strong sell” rating in a research note on Monday, January 27th. Susquehanna lowered their price objective on Plug Power from $2.50 to $1.80 and set a “neutral” rating for the company in a research report on Wednesday. StockNews.com upgraded Plug Power to a “sell” rating in a research report on Tuesday. Finally, Craig Hallum decreased their price target on Plug Power from $4.00 to $3.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. 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 company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $2.34.

Plug Power Price Performance

NASDAQ:PLUG opened at $1.65 on Wednesday. Plug Power has a 12-month low of $1.37 and a 12-month high of $4.90. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of -0.77 and a beta of 1.79. The company’s 50-day moving average is $2.08 and its two-hundred day moving average is $2.10. The company has a current ratio of 2.08, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15.

Institutional Investors Weigh In On Plug Power

Several large investors have recently made changes to their positions in PLUG. Pacific Sage Partners LLC acquired a new position in shares of Plug Power during the 4th quarter valued at $25,000. Oppenheimer & Co. Inc. purchased a new position in Plug Power in the fourth quarter valued at about $25,000. Jones Financial Companies Lllp raised its position in Plug Power by 107.4% in the fourth quarter. Jones Financial Companies Lllp now owns 11,730 shares of the electronics maker’s stock valued at $25,000 after purchasing an additional 6,074 shares during the period. Callan Family Office LLC acquired a new position in shares of Plug Power during the fourth quarter worth about $27,000. Finally, Ground Swell Capital LLC purchased a new stake in shares of Plug Power in the fourth quarter worth about $27,000. Institutional investors and hedge funds own 43.48% of the company’s stock.

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.