Plug Power (NASDAQ:PLUG) Price Target Lowered to $1.50 at Truist Financial

Plug Power (NASDAQ:PLUG) had its price objective cut by Truist Financial from $2.00 to $1.50 in a research note issued to investors on Wednesday,Benzinga reports. They currently have a hold rating on the electronics maker’s stock.

Several other brokerages also recently commented on PLUG. StockNews.com raised Plug Power to a “sell” rating in a report on Tuesday. Piper Sandler reduced their target price on Plug Power from $1.40 to $1.10 and set an “underweight” rating on the stock in a report on Wednesday. Evercore ISI reduced their price objective on Plug Power from $5.00 to $4.00 and set an “outperform” rating on the stock in a report on Wednesday, November 13th. Canaccord Genuity Group reduced their price objective on Plug Power from $2.50 to $2.25 and set a “hold” rating on the stock in a report on Wednesday, November 13th. Finally, Seaport Res Ptn downgraded Plug Power from a “hold” rating to a “strong sell” rating in a report on Monday, January 27th. Six analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Plug Power presently has a consensus rating of “Hold” and a consensus price target of $2.40.

Plug Power Stock Up 4.3 %

Shares of PLUG opened at $1.69 on Wednesday. The company has a market capitalization of $1.54 billion, a P/E ratio of -0.79 and a beta of 1.79. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.08 and a quick ratio of 0.95. Plug Power has a one year low of $1.37 and a one year high of $4.90. The business’s 50 day simple moving average is $2.09 and its 200-day simple moving average is $2.11.

Institutional Trading of Plug Power

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Plug Power by 5.4% in the 4th quarter. Vanguard Group Inc. now owns 87,438,503 shares of the electronics maker’s stock valued at $186,244,000 after buying an additional 4,491,114 shares in the last quarter. Norges Bank bought a new stake in shares of Plug Power in the 4th quarter valued at $146,465,000. Geode Capital Management LLC increased its holdings in Plug Power by 3.8% during the 4th quarter. Geode Capital Management LLC now owns 19,917,268 shares of the electronics maker’s stock worth $42,434,000 after purchasing an additional 722,639 shares in the last quarter. Legal & General Group Plc increased its holdings in Plug Power by 8.5% during the 4th quarter. Legal & General Group Plc now owns 10,141,849 shares of the electronics maker’s stock worth $21,602,000 after purchasing an additional 796,774 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Plug Power by 11.1% during the 4th quarter. Northern Trust Corp now owns 7,907,687 shares of the electronics maker’s stock worth $16,843,000 after purchasing an additional 790,650 shares in the last quarter. Institutional investors 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.