HC Wainwright Issues Pessimistic Forecast for Plug Power (NASDAQ:PLUG) Stock Price

Plug Power (NASDAQ:PLUG) had its target price decreased by investment analysts at HC Wainwright from $5.00 to $3.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the electronics maker’s stock. HC Wainwright’s price objective suggests a potential upside of 85.19% from the stock’s current price.

A number of other brokerages have also commented on PLUG. StockNews.com upgraded Plug Power to a “sell” rating in a research report on Tuesday. Piper Sandler lowered their price target on shares of Plug Power from $1.60 to $1.40 and set an “underweight” rating for the company in a research report on Thursday, November 14th. Wells Fargo & Company cut their price objective on shares of Plug Power from $3.00 to $2.00 and set an “equal weight” rating on the stock in a report on Thursday, November 14th. Seaport Res Ptn cut shares of Plug Power from a “hold” rating to a “strong sell” rating in a research note on Monday, January 27th. Finally, Susquehanna upped their target price on shares of Plug Power from $2.00 to $2.50 and gave the company a “neutral” rating in a research report on Thursday, January 16th. Five analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $3.05.

Plug Power Stock Performance

Shares of Plug Power stock opened at $1.62 on Wednesday. The firm has a 50 day simple moving average of $2.09 and a 200 day simple moving average of $2.11. The firm has a market cap of $1.48 billion, a P/E ratio of -0.76 and a beta of 1.79. Plug Power has a fifty-two week low of $1.37 and a fifty-two week 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.

Institutional Trading of Plug Power

A number of large investors have recently bought and sold shares of PLUG. Creative Planning boosted its holdings in shares of Plug Power by 35.9% in the third quarter. Creative Planning now owns 115,614 shares of the electronics maker’s stock valued at $261,000 after buying an additional 30,552 shares during the period. Private Advisor Group LLC lifted its position in Plug Power by 53.2% in the 3rd quarter. Private Advisor Group LLC now owns 65,594 shares of the electronics maker’s stock valued at $148,000 after acquiring an additional 22,770 shares in the last quarter. International Assets Investment Management LLC boosted its stake in Plug Power by 135.7% in the 3rd quarter. International Assets Investment Management LLC now owns 23,201 shares of the electronics maker’s stock worth $52,000 after purchasing an additional 13,357 shares during the period. Van ECK Associates Corp boosted its stake in Plug Power by 23.6% in the 3rd quarter. Van ECK Associates Corp now owns 4,232,001 shares of the electronics maker’s stock worth $8,803,000 after purchasing an additional 809,187 shares during the period. Finally, QRG Capital Management Inc. bought a new position in Plug Power during the 3rd quarter worth about $204,000. 43.48% of the stock is owned by institutional investors.

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.