BMO Capital Markets Lowers Plug Power (NASDAQ:PLUG) Price Target to $1.40

Plug Power (NASDAQ:PLUG) had its price objective lowered by research analysts at BMO Capital Markets from $1.60 to $1.40 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “underperform” rating on the electronics maker’s stock. BMO Capital Markets’ target price would suggest a potential downside of 15.15% from the company’s current price.

PLUG has been the subject of several other reports. Evercore ISI cut their price target on Plug Power from $5.00 to $4.00 and set an “outperform” rating for the company in a research note on Wednesday, November 13th. BTIG Research downgraded Plug Power from a “buy” rating to a “neutral” rating in a research report on Thursday, November 14th. HC Wainwright decreased their price target on Plug Power from $5.00 to $3.00 and set a “buy” rating on the stock in a research report on Wednesday. Craig Hallum dropped their price target on Plug Power from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. Finally, Susquehanna increased their price objective on shares of Plug Power from $2.00 to $2.50 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. Six analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $2.34.

Plug Power Stock Performance

NASDAQ PLUG opened at $1.65 on Wednesday. The firm has a 50-day moving average price of $2.08 and a two-hundred day moving average price of $2.10. Plug Power has a 12-month low of $1.37 and a 12-month high of $4.90. The company has a market capitalization of $1.50 billion, a P/E ratio of -0.77 and a beta of 1.79. The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Nations Financial Group Inc. IA ADV grew its position in Plug Power by 42.3% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 15,798 shares of the electronics maker’s stock worth $36,000 after acquiring an additional 4,700 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Plug Power by 53.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 15,410 shares of the electronics maker’s stock valued at $33,000 after purchasing an additional 5,348 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Plug Power by 0.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 803,881 shares of the electronics maker’s stock worth $1,817,000 after purchasing an additional 5,485 shares during the last quarter. Compagnie Lombard Odier SCmA increased its stake in shares of Plug Power by 12.8% in the fourth quarter. Compagnie Lombard Odier SCmA now owns 49,000 shares of the electronics maker’s stock valued at $104,000 after buying an additional 5,550 shares during the period. Finally, Catalyst Capital Advisors LLC raised its holdings in Plug Power by 79.9% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 12,681 shares of the electronics maker’s stock valued at $29,000 after buying an additional 5,631 shares during the last quarter. 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.