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

Plug Power (NASDAQ:PLUG - Free Report) had its target price lowered by Susquehanna from $2.50 to $1.80 in a report published on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the electronics maker's stock.

PLUG has been the topic of a number of other reports. Evercore ISI decreased their target price on Plug Power from $5.00 to $4.00 and set an "outperform" rating on the stock in a report on Wednesday, November 13th. StockNews.com raised Plug Power to a "sell" rating in a report on Tuesday, March 4th. HC Wainwright decreased their target price on Plug Power from $5.00 to $3.00 and set a "buy" rating on the stock in a report on Wednesday. Craig Hallum decreased 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. Finally, BMO Capital Markets decreased their target price on Plug Power from $1.60 to $1.40 and set an "underperform" rating on the stock in a report on Wednesday. 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. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $2.34.

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Plug Power Stock Performance

Shares of NASDAQ PLUG traded up $0.13 during midday trading on Wednesday, hitting $1.78. 73,303,360 shares of the stock traded hands, 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 firm has a 50-day moving average of $2.05 and a two-hundred day moving average of $2.10. The firm has a market capitalization of $1.65 billion, a P/E ratio of -0.83 and a beta of 1.98. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 2.08.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PLUG. Creative Planning grew its position in Plug Power by 35.9% in the third quarter. Creative Planning now owns 115,614 shares of the electronics maker's stock worth $261,000 after acquiring an additional 30,552 shares in the last quarter. Private Advisor Group LLC grew its position in Plug Power by 53.2% in the third quarter. Private Advisor Group LLC now owns 65,594 shares of the electronics maker's stock worth $148,000 after acquiring an additional 22,770 shares in the last quarter. International Assets Investment Management LLC grew its position in Plug Power by 135.7% in the third quarter. International Assets Investment Management LLC now owns 23,201 shares of the electronics maker's stock worth $52,000 after acquiring an additional 13,357 shares in the last quarter. Van ECK Associates Corp grew its position in Plug Power by 23.6% in the third quarter. Van ECK Associates Corp now owns 4,232,001 shares of the electronics maker's stock worth $8,803,000 after acquiring an additional 809,187 shares in the last quarter. Finally, QRG Capital Management Inc. purchased a new position in Plug Power in the third quarter worth about $204,000. 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.