Susquehanna Issues Pessimistic Forecast for Plug Power (NASDAQ:PLUG) Stock Price

Plug Power (NASDAQ:PLUG) had its target price cut by Susquehanna from $2.50 to $1.80 in a research note published on Wednesday,Benzinga reports. They currently have a neutral rating on the electronics maker’s stock.

A number of other brokerages have also recently commented on PLUG. Seaport Res Ptn cut shares of Plug Power from a “hold” rating to a “strong sell” rating in a report on Monday, January 27th. Craig Hallum reduced their target price on shares of Plug Power from $4.00 to $3.00 and set a “buy” rating for the company in a report on Thursday, November 14th. Wells Fargo & Company reduced their target price on shares of Plug Power from $3.00 to $2.00 and set an “equal weight” rating for the company in a report on Thursday, November 14th. Canaccord Genuity Group reduced their target price on shares of Plug Power from $2.50 to $2.25 and set a “hold” rating for the company in a report on Wednesday, November 13th. Finally, BTIG Research cut shares of Plug Power from a “buy” rating to a “neutral” rating in a report on Thursday, November 14th. 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. Based on data from MarketBeat, Plug Power presently has a consensus rating of “Hold” and an average target price of $2.40.

Plug Power Stock Up 4.3 %

PLUG opened at $1.69 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. The firm has a 50 day moving average price of $2.09 and a 200-day moving average price of $2.11. Plug Power has a twelve month low of $1.37 and a twelve month high of $4.90. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of -0.79 and a beta of 1.79.

Hedge Funds Weigh In On Plug Power

Hedge funds and other institutional investors have recently modified their holdings of the stock. Pacific Sage Partners LLC bought a new position in shares of Plug Power during the fourth quarter worth $25,000. Oppenheimer & Co. Inc. bought a new position in Plug Power during the fourth quarter valued at $25,000. Jones Financial Companies Lllp lifted its position in Plug Power by 107.4% during 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 last quarter. Callan Family Office LLC bought a new position in Plug Power during the fourth quarter valued at $27,000. Finally, Ground Swell Capital LLC bought a new position in Plug Power during the fourth quarter valued at $27,000. Institutional investors 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.