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

Plug Power (NASDAQ:PLUG) had its target price reduced by research analysts at BMO Capital Markets from $1.60 to $1.40 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “underperform” rating on the electronics maker’s stock. BMO Capital Markets’ price target indicates a potential downside of 15.15% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. BTIG Research downgraded shares of Plug Power from a “buy” rating to a “neutral” rating in a research report on Thursday, November 14th. StockNews.com upgraded Plug Power to a “sell” rating in a report on Tuesday. Craig Hallum lowered 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. Evercore ISI reduced their price target on Plug Power from $5.00 to $4.00 and set an “outperform” rating for the company in a research report on Wednesday, November 13th. Finally, Piper Sandler lowered their price target on Plug Power from $1.60 to $1.40 and set an “underweight” rating on the stock in a research report on Thursday, November 14th. Six equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Plug Power presently has an average rating of “Hold” and an average target price of $2.34.

Plug Power Trading Down 2.4 %

NASDAQ:PLUG opened at $1.65 on Wednesday. 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 twelve month low of $1.37 and a twelve month high of $4.90. The company has a market cap of $1.50 billion, a P/E ratio of -0.77 and a beta of 1.79. The business has a 50 day moving average price of $2.08 and a two-hundred day moving average price of $2.10.

Institutional Trading of Plug Power

A number of hedge funds have recently modified their holdings of the stock. Pinnacle Wealth Planning Services Inc. bought a new stake in shares of Plug Power during the 4th quarter worth about $60,000. Toronto Dominion Bank acquired a new stake in Plug Power during the fourth quarter worth approximately $270,000. Retirement Planning Group LLC NY bought a new stake in shares of Plug Power during the fourth quarter worth approximately $38,000. GTS Securities LLC grew its position in shares of Plug Power by 150.0% in the fourth quarter. GTS Securities LLC now owns 18,750 shares of the electronics maker’s stock valued at $40,000 after purchasing an additional 56,255 shares during the last quarter. Finally, 49 Wealth Management LLC grew its position in shares of Plug Power by 25.0% in the fourth quarter. 49 Wealth Management LLC now owns 29,180 shares of the electronics maker’s stock valued at $62,000 after purchasing an additional 5,834 shares during the last quarter. Institutional investors and hedge funds 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.