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

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

Several other equities research analysts have also recently issued reports on PLUG. Susquehanna lifted their target price on Plug Power from $2.00 to $2.50 and gave the stock a "neutral" rating in a report on Thursday, January 16th. StockNews.com raised Plug Power to a "sell" rating in a report on Tuesday, March 4th. Craig Hallum reduced their target price on Plug Power from $4.00 to $3.00 and set a "buy" rating on the stock in a report on Thursday, November 14th. BTIG Research cut Plug Power from a "buy" rating to a "neutral" rating in a research note on Thursday, November 14th. Finally, HC Wainwright reduced their price objective on Plug Power from $5.00 to $3.00 and set a "buy" rating on the stock in a research note on Wednesday. Six equities 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. According to data from MarketBeat.com, Plug Power has an average rating of "Hold" and an average target price of $2.34.

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Plug Power Price Performance

Shares of PLUG stock traded up $0.13 during trading hours on Wednesday, hitting $1.78. The stock had a trading volume of 73,303,360 shares, compared to its average volume of 68,526,250. Plug Power has a one year low of $1.37 and a one year high of $4.90. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.08 and a quick ratio of 0.95. The stock's 50-day moving average price is $2.05 and its two-hundred day moving average price is $2.10. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of -0.83 and a beta of 1.98.

Institutional Trading of Plug Power

Large investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Plug Power by 25.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,637,039 shares of the electronics maker's stock valued at $15,000,000 after purchasing an additional 1,354,500 shares during the period. XTX Topco Ltd purchased a new stake in shares of Plug Power in the third quarter valued at approximately $2,174,000. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Plug Power by 24.5% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,421,222 shares of the electronics maker's stock valued at $5,472,000 after purchasing an additional 476,060 shares during the period. Stifel Financial Corp boosted its holdings in shares of Plug Power by 23.4% in the third quarter. Stifel Financial Corp now owns 1,398,398 shares of the electronics maker's stock valued at $3,160,000 after purchasing an additional 265,514 shares during the period. Finally, MetLife Investment Management LLC boosted its holdings in shares of Plug Power by 166.4% in the third quarter. MetLife Investment Management LLC now owns 424,297 shares of the electronics maker's stock valued at $959,000 after purchasing an additional 265,042 shares during the period. Hedge funds and other 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.