Plug Power (NASDAQ:PLUG) Given New $1.25 Price Target at Susquehanna

Plug Power (NASDAQ:PLUG - Get Free Report) had its price objective cut by Susquehanna from $1.80 to $1.25 in a research note issued on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the electronics maker's stock. Susquehanna's price objective would indicate a potential upside of 38.84% from the company's previous close.

Other analysts have also recently issued research reports about the stock. Seaport Res Ptn cut shares of Plug Power from a "hold" rating to a "strong sell" rating in a research note on Monday, January 27th. Morgan Stanley dropped their price target on Plug Power from $1.75 to $1.60 and set an "underweight" rating on the stock in a research note on Thursday, March 6th. HC Wainwright reiterated a "buy" rating and issued a $3.00 price objective on shares of Plug Power in a research note on Monday, March 24th. BMO Capital Markets cut their target price on shares of Plug Power from $1.60 to $1.40 and set an "underperform" rating for the company in a research report on Wednesday, March 5th. Finally, StockNews.com upgraded Plug Power to a "sell" rating in a research note on Tuesday, March 4th. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $2.29.

Plug Power Stock Down 2.3 %

PLUG stock traded down $0.02 during mid-day trading on Monday, hitting $0.90. 128,899,897 shares of the company were exchanged, compared to its average volume of 50,787,252. The firm has a market cap of $832.94 million, a P/E ratio of -0.42 and a beta of 2.07. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 2.08. Plug Power has a 1-year low of $0.87 and a 1-year high of $4.90. The firm's 50 day simple moving average is $1.47 and its 200 day simple moving average is $1.95.

Institutional Investors Weigh In On Plug Power

A number of institutional investors have recently bought and sold shares of PLUG. Vanguard Group Inc. boosted its stake in shares of Plug Power by 5.4% in the fourth quarter. Vanguard Group Inc. now owns 87,438,503 shares of the electronics maker's stock worth $186,244,000 after acquiring an additional 4,491,114 shares during the period. Norges Bank bought a new position in Plug Power in the 4th quarter worth approximately $146,465,000. Geode Capital Management LLC grew its holdings in Plug Power by 3.8% during the 4th quarter. Geode Capital Management LLC now owns 19,917,268 shares of the electronics maker's stock valued at $42,434,000 after buying an additional 722,639 shares in the last quarter. Legal & General Group Plc raised its position in shares of Plug Power by 8.5% during the fourth quarter. Legal & General Group Plc now owns 10,141,849 shares of the electronics maker's stock valued at $21,602,000 after buying an additional 796,774 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Plug Power by 11.1% during the fourth quarter. Northern Trust Corp now owns 7,907,687 shares of the electronics maker's stock valued at $16,843,000 after buying an additional 790,650 shares during the last quarter. 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.