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

Plug Power (NASDAQ:PLUG) had its target price reduced by UBS Group from $2.50 to $1.75 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the electronics maker’s stock. UBS Group’s price target would indicate a potential upside of 11.82% from the company’s previous close.

Several other research analysts have also commented on the stock. BMO Capital Markets lowered their price objective on shares of Plug Power from $1.60 to $1.40 and set an “underperform” rating for the company in a research note on Wednesday, March 5th. Canaccord Genuity Group dropped their price target 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. StockNews.com upgraded Plug Power to a “sell” rating in a research note on Tuesday, March 4th. Truist Financial decreased their target price on Plug Power from $2.00 to $1.50 and set a “hold” rating for the company in a report on Wednesday, March 5th. Finally, Susquehanna reduced their price target on Plug Power from $2.50 to $1.80 and set a “neutral” rating on the stock in a research report on Wednesday, March 5th. Six 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $2.31.

Plug Power Trading Down 1.6 %

Shares of PLUG stock traded down $0.03 on Friday, hitting $1.57. The stock had a trading volume of 25,038,554 shares, compared to its average volume of 47,493,200. The company’s 50 day moving average price is $1.89 and its 200-day moving average price is $2.07. Plug Power has a 1 year low of $1.37 and a 1 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 firm has a market capitalization of $1.45 billion, a P/E ratio of -0.73 and a beta of 1.98.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its holdings in shares of Plug Power by 17.3% in the 3rd quarter. Victory Capital Management Inc. now owns 103,382 shares of the electronics maker’s stock valued at $234,000 after acquiring an additional 15,280 shares during the period. Prospera Financial Services Inc increased its stake in Plug Power by 63.8% in the third quarter. Prospera Financial Services Inc now owns 32,963 shares of the electronics maker’s stock valued at $74,000 after purchasing an additional 12,845 shares during the period. Banque Cantonale Vaudoise raised its holdings in shares of Plug Power by 17.4% in the third quarter. Banque Cantonale Vaudoise now owns 195,850 shares of the electronics maker’s stock valued at $443,000 after buying an additional 29,051 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in shares of Plug Power by 145.5% during the third quarter. Advisors Asset Management Inc. now owns 183,119 shares of the electronics maker’s stock worth $414,000 after buying an additional 108,536 shares during the period. Finally, Intech Investment Management LLC purchased a new position in shares of Plug Power during the third quarter worth about $277,000. 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.