Susquehanna Has Lowered Expectations for Plug Power (NASDAQ:PLUG) Stock Price

Plug Power (NASDAQ:PLUG) had its price objective dropped by Susquehanna from $2.50 to $1.80 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the electronics maker’s stock. Susquehanna’s price target indicates a potential upside of 9.09% from the stock’s current price.

PLUG has been the subject of a number of other research reports. Evercore ISI cut their price objective on shares of Plug Power from $5.00 to $4.00 and set an “outperform” rating for the company in a report on Wednesday, November 13th. StockNews.com raised Plug Power to a “sell” rating in a report on Tuesday. BTIG Research lowered Plug Power from a “buy” rating to a “neutral” rating in a research note on Thursday, November 14th. BMO Capital Markets dropped their target price on Plug Power from $1.60 to $1.40 and set an “underperform” rating for the company in a report on Wednesday. Finally, Craig Hallum reduced their price target on 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 assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $2.34.

Plug Power Price Performance

Shares of NASDAQ PLUG opened at $1.65 on Wednesday. The firm has a 50-day simple moving average of $2.08 and a 200-day simple moving average of $2.10. 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 stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of -0.77 and a beta of 1.79. 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

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

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.