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

Plug Power (NASDAQ:PLUG) had its price target decreased by UBS Group from $2.50 to $1.75 in a research note released on Friday,Benzinga reports. UBS Group currently has a neutral rating on the electronics maker’s stock.

A number of other equities research analysts also recently commented on the company. StockNews.com raised Plug Power to a “sell” rating in a research report on Tuesday, March 4th. Susquehanna lowered their price objective on Plug Power from $2.50 to $1.80 and set a “neutral” rating for the company in a research report on Wednesday, March 5th. Morgan Stanley lowered their price objective on Plug Power from $1.75 to $1.60 and set an “underweight” rating for the company in a research report on Thursday, March 6th. Canaccord Genuity Group lowered their price objective on Plug Power from $2.00 to $1.25 and set a “hold” rating for the company in a research report on Wednesday, March 5th. Finally, HC Wainwright lowered their price target on Plug Power from $5.00 to $3.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. Six investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Plug Power has an average rating of “Hold” and an average price target of $2.31.

Plug Power Price Performance

Shares of NASDAQ:PLUG opened at $1.53 on Friday. The company has a market cap of $1.42 billion, a P/E ratio of -0.71 and a beta of 1.98. The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15. Plug Power has a 52 week low of $1.37 and a 52 week high of $4.90. The business has a fifty day simple moving average of $1.86 and a 200-day simple moving average of $2.07.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Plug Power by 5.4% in the fourth quarter. Vanguard Group Inc. now owns 87,438,503 shares of the electronics maker’s stock worth $186,244,000 after acquiring an additional 4,491,114 shares in the last quarter. Norges Bank acquired a new position in shares of Plug Power in the fourth quarter worth about $146,465,000. Geode Capital Management LLC lifted its stake in shares of Plug Power by 3.8% in the fourth quarter. Geode Capital Management LLC now owns 19,917,268 shares of the electronics maker’s stock worth $42,434,000 after acquiring an additional 722,639 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of Plug Power by 8.5% in the fourth quarter. Legal & General Group Plc now owns 10,141,849 shares of the electronics maker’s stock worth $21,602,000 after acquiring an additional 796,774 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Plug Power by 11.1% in the fourth quarter. Northern Trust Corp now owns 7,907,687 shares of the electronics maker’s stock worth $16,843,000 after acquiring an additional 790,650 shares in the last quarter. Institutional investors and hedge funds own 43.48% of the company’s stock.

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.