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

Plug Power (NASDAQ:PLUG - Get Free Report) had its target price reduced by research analysts at UBS Group from $2.50 to $1.75 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a "neutral" rating on the electronics maker's stock. UBS Group's target price indicates a potential upside of 11.82% from the stock's current price.

Several other research analysts have also commented on the company. Seaport Res Ptn lowered Plug Power from a "hold" rating to a "strong sell" rating in a research report on Monday, January 27th. HC Wainwright cut their target price on Plug Power from $5.00 to $3.00 and set a "buy" rating on the stock in a research note on Wednesday, March 5th. B. Riley decreased their price target on shares of Plug Power from $4.00 to $3.00 and set a "buy" rating for the company in a research report on Wednesday, March 5th. StockNews.com upgraded shares of Plug Power to a "sell" rating in a report on Tuesday, March 4th. Finally, Canaccord Genuity Group reduced their price objective on shares of Plug Power from $2.00 to $1.25 and set a "hold" rating for the company in a research note on Wednesday, March 5th. Six equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Plug Power has an average rating of "Hold" and an average target price of $2.31.

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Plug Power Stock Up 2.3 %

NASDAQ PLUG traded up $0.04 during trading on Friday, reaching $1.57. 36,364,277 shares of the company's stock traded hands, compared to its average volume of 47,764,586. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of -0.73 and a beta of 1.98. The company's 50 day simple moving average is $1.86 and its two-hundred day simple moving average is $2.07. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.08 and a quick ratio of 0.95. Plug Power has a 12-month low of $1.37 and a 12-month high of $4.90.

Institutional Trading of Plug Power

Several institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank purchased a new position in shares of Plug Power during the fourth quarter worth $146,465,000. Point72 Asset Management L.P. acquired a new stake in Plug Power during the 4th quarter worth about $10,370,000. Vanguard Group Inc. raised its stake in shares of Plug Power by 5.4% during the 4th quarter. Vanguard Group Inc. now owns 87,438,503 shares of the electronics maker's stock valued at $186,244,000 after buying an additional 4,491,114 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Plug Power by 23.6% in the 3rd quarter. Geode Capital Management LLC now owns 19,194,629 shares of the electronics maker's stock valued at $43,388,000 after buying an additional 3,662,456 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in shares of Plug Power in the fourth quarter worth about $6,235,000. 43.48% of the stock is currently owned by institutional investors and hedge funds.

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.