UBS Group Cuts Plug Power (NASDAQ:PLUG) Price Target to $1.75

Plug Power (NASDAQ:PLUG - Get Free Report) had its target price decreased by UBS Group from $2.50 to $1.75 in a report released on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the electronics maker's stock. UBS Group's price objective would suggest a potential upside of 14.38% from the company's previous close.

A number of other analysts also recently weighed in on the stock. Susquehanna cut their price target on shares of Plug Power from $2.50 to $1.80 and set a "neutral" rating on the stock in a research report on Wednesday, March 5th. Seaport Res Ptn lowered shares of Plug Power from a "hold" rating to a "strong sell" rating in a report on Monday, January 27th. Canaccord Genuity Group dropped their price objective on Plug Power from $2.00 to $1.25 and set a "hold" rating on the stock in a research note on Wednesday, March 5th. StockNews.com raised Plug Power to a "sell" rating in a research note on Tuesday, March 4th. Finally, Piper Sandler dropped their price target on Plug Power from $1.40 to $1.10 and set an "underweight" rating on the stock in a research report 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 assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $2.31.

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Plug Power Trading Down 0.6 %

Shares of Plug Power stock traded down $0.01 on Friday, hitting $1.53. 44,570,741 shares of the company's stock traded hands, compared to its average volume of 47,923,701. 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 has a market capitalization of $1.42 billion, a PE ratio of -0.71 and a beta of 1.98. The firm's 50-day moving average price is $1.81 and its two-hundred day moving average price is $2.07.

Hedge Funds Weigh In On Plug Power

Large investors have recently modified their holdings of the business. Victory Capital Management Inc. raised its holdings in Plug Power by 17.3% during the third quarter. Victory Capital Management Inc. now owns 103,382 shares of the electronics maker's stock worth $234,000 after acquiring an additional 15,280 shares in the last quarter. Prospera Financial Services Inc increased its position in shares of Plug Power by 63.8% during the 3rd quarter. Prospera Financial Services Inc now owns 32,963 shares of the electronics maker's stock worth $74,000 after purchasing an additional 12,845 shares during the last quarter. Banque Cantonale Vaudoise raised its stake in shares of Plug Power by 17.4% during the 3rd quarter. Banque Cantonale Vaudoise now owns 195,850 shares of the electronics maker's stock worth $443,000 after purchasing an additional 29,051 shares in the last quarter. Advisors Asset Management Inc. raised its stake in shares of Plug Power by 145.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 183,119 shares of the electronics maker's stock worth $414,000 after purchasing an additional 108,536 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new stake in shares of Plug Power in the 3rd quarter valued at approximately $277,000. 43.48% of the stock is currently owned by institutional investors and hedge funds.

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.