Plug Power (NASDAQ:PLUG) Price Target Lowered to $1.25 at Canaccord Genuity Group

Plug Power (NASDAQ:PLUG) had its price objective decreased by equities researchers at Canaccord Genuity Group from $2.00 to $1.25 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “hold” rating on the electronics maker’s stock. Canaccord Genuity Group’s price objective indicates a potential downside of 26.04% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. BTIG Research downgraded shares of Plug Power from a “buy” rating to a “neutral” rating in a research note on Thursday, November 14th. Susquehanna dropped their price objective on Plug Power from $2.50 to $1.80 and set a “neutral” rating for the company in a report on Wednesday. HC Wainwright reduced 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. BMO Capital Markets dropped their price target on Plug Power from $1.60 to $1.40 and set an “underperform” rating for the company in a research note on Wednesday. Finally, StockNews.com raised shares of Plug Power to a “sell” rating in a research report on Tuesday. Six research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $2.78.

Plug Power Trading Up 4.3 %

Shares of Plug Power stock traded up $0.07 on Wednesday, hitting $1.69. The stock had a trading volume of 66,284,887 shares, compared to its average volume of 68,669,586. The stock’s 50-day simple moving average is $2.09 and its two-hundred day simple moving average is $2.11. Plug Power has a one year low of $1.37 and a one year high of $4.90. The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of -0.79 and a beta of 1.79.

Institutional Trading of Plug Power

Several institutional investors have recently added to or reduced their stakes in PLUG. Oppenheimer & Co. Inc. bought a new position in shares of Plug Power during the fourth quarter valued at $25,000. Pacific Sage Partners LLC bought a new position in Plug Power during the 4th quarter valued at about $25,000. Jones Financial Companies Lllp boosted its holdings in shares of Plug Power by 107.4% during the 4th quarter. Jones Financial Companies Lllp now owns 11,730 shares of the electronics maker’s stock valued at $25,000 after acquiring an additional 6,074 shares during the last quarter. Callan Family Office LLC bought a new stake in shares of Plug Power in the fourth quarter worth approximately $27,000. Finally, Ground Swell Capital LLC purchased a new position in shares of Plug Power during the fourth quarter valued at approximately $27,000. 43.48% of the stock is currently owned by hedge funds and other institutional investors.

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.