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

Plug Power (NASDAQ:PLUG) had its price objective decreased by equities researchers at 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 target would suggest a potential upside of 14.38% from the company’s previous close.

Other equities analysts have also issued reports about the company. BMO Capital Markets lowered their price target on Plug Power from $1.60 to $1.40 and set an “underperform” rating on the stock in a research note on Wednesday, March 5th. Canaccord Genuity Group lowered 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. B. Riley 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 Wednesday, March 5th. Morgan Stanley reduced their target price on Plug Power from $1.75 to $1.60 and set an “underweight” rating on the stock in a report on Thursday, March 6th. Finally, Susquehanna reduced their target price on Plug Power from $2.50 to $1.80 and set a “neutral” rating on the stock in a report on Wednesday, March 5th. Six analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $2.31.

Plug Power Price Performance

NASDAQ PLUG opened at $1.53 on Friday. Plug Power has a twelve month low of $1.37 and a twelve month high of $4.90. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 2.08. The stock has a market capitalization of $1.42 billion, a PE ratio of -0.71 and a beta of 1.98. The stock has a 50-day simple moving average of $1.86 and a 200 day simple moving average of $2.07.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PLUG. Charles Schwab Investment Management Inc. increased its position in shares of Plug Power by 25.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,637,039 shares of the electronics maker’s stock valued at $15,000,000 after buying an additional 1,354,500 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Plug Power in the 3rd quarter valued at $2,174,000. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Plug Power by 24.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,421,222 shares of the electronics maker’s stock worth $5,472,000 after purchasing an additional 476,060 shares in the last quarter. Stifel Financial Corp increased its holdings in Plug Power by 23.4% during the 3rd quarter. Stifel Financial Corp now owns 1,398,398 shares of the electronics maker’s stock worth $3,160,000 after purchasing an additional 265,514 shares in the last quarter. Finally, MetLife Investment Management LLC increased its holdings in Plug Power by 166.4% during the 3rd quarter. MetLife Investment Management LLC now owns 424,297 shares of the electronics maker’s stock worth $959,000 after purchasing an additional 265,042 shares in the last quarter. Institutional investors and hedge funds 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.