Susquehanna Cuts Plug Power (NASDAQ:PLUG) Price Target to $1.25

Plug Power (NASDAQ:PLUG) had its price target cut by equities researchers at Susquehanna from $1.80 to $1.25 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the electronics maker’s stock. Susquehanna’s price objective would indicate a potential upside of 25.00% from the company’s current price.

Several other research analysts have also weighed in on PLUG. HC Wainwright restated a “buy” rating and set a $3.00 target price on shares of Plug Power in a research report on Monday, March 24th. UBS Group dropped their price objective on Plug Power from $2.50 to $1.75 and set a “neutral” rating for the company in a research note on Friday, March 21st. Canaccord Genuity Group reduced their price objective on Plug Power from $2.00 to $1.25 and set a “hold” rating for the company in a report on Wednesday, March 5th. Truist Financial lowered their target price on Plug Power from $2.00 to $1.50 and set a “hold” rating on the stock in a report on Wednesday, March 5th. Finally, Seaport Res Ptn lowered shares of Plug Power from a “hold” rating to a “strong sell” rating in a research report on Monday, January 27th. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $2.29.

Plug Power Price Performance

Shares of NASDAQ PLUG opened at $1.00 on Monday. The company’s fifty day moving average is $1.51 and its two-hundred day moving average is $1.98. 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 firm has a market capitalization of $925.18 million, a P/E ratio of -0.47 and a beta of 2.07. Plug Power has a one year low of $0.98 and a one year high of $4.90.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Stifel Financial Corp lifted its position in Plug Power by 23.4% during the third quarter. Stifel Financial Corp now owns 1,398,398 shares of the electronics maker’s stock worth $3,160,000 after buying an additional 265,514 shares during the period. Geode Capital Management LLC grew its holdings in Plug Power by 23.6% in the third quarter. Geode Capital Management LLC now owns 19,194,629 shares of the electronics maker’s stock valued at $43,388,000 after purchasing an additional 3,662,456 shares during the period. Sanctuary Advisors LLC acquired a new position in Plug Power during the third quarter worth approximately $206,000. Kieckhefer Group LLC acquired a new position in shares of Plug Power in the 4th quarter valued at $138,000. Finally, Arkadios Wealth Advisors grew its stake in shares of Plug Power by 88.0% during the 4th quarter. Arkadios Wealth Advisors now owns 62,082 shares of the electronics maker’s stock valued at $132,000 after buying an additional 29,062 shares during the period. 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.