Royal Bank of Canada Lowers Plug Power (NASDAQ:PLUG) Price Target to $17.00

Plug Power (NASDAQ:PLUG – Get Rating) had its target price cut by Royal Bank of Canada from $20.00 to $17.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have an outperform rating on the electronics maker’s stock.

Several other research firms have also weighed in on PLUG. Citigroup increased their price target on shares of Plug Power from $20.00 to $21.00 in a research report on Thursday, December 15th. BMO Capital Markets reduced their price target on shares of Plug Power from $18.00 to $15.00 and set a market perform rating on the stock in a research report on Thursday. Wells Fargo & Company dropped their price target on Plug Power from $18.00 to $13.00 and set an equal weight rating for the company in a research note on Friday, January 6th. Susquehanna lowered their price objective on Plug Power from $28.00 to $25.00 in a research report on Thursday, January 26th. Finally, Cowen lowered their price objective on Plug Power from $33.00 to $30.00 in a research report on Wednesday, November 9th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Plug Power currently has an average rating of Moderate Buy and a consensus price target of $23.86.

Plug Power Trading Up 3.8 %

Plug Power stock opened at $13.84 on Thursday. The company has a current ratio of 5.20, a quick ratio of 4.19 and a debt-to-equity ratio of 0.12. Plug Power has a 12-month low of $11.49 and a 12-month high of $32.05. The firm’s fifty day moving average is $15.09 and its 200 day moving average is $18.13.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Riggs Asset Managment Co. Inc. purchased a new stake in shares of Plug Power in the 3rd quarter valued at about $26,000. Exos TFP Holdings LLC purchased a new stake in Plug Power during the 3rd quarter valued at approximately $30,000. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its stake in Plug Power by 124.2% during the 3rd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,518 shares of the electronics maker’s stock valued at $31,000 after acquiring an additional 841 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in Plug Power during the 2nd quarter valued at approximately $27,000. Finally, TCI Wealth Advisors Inc. raised its stake in Plug Power by 358.8% during the 3rd quarter. TCI Wealth Advisors Inc. now owns 1,716 shares of the electronics maker’s stock valued at $36,000 after acquiring an additional 1,342 shares during the last quarter. 52.07% of the stock is owned by institutional investors and hedge funds.

Plug Power Company Profile

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Plug Power, Inc provides alternative energy technology, which focuses on the design, development, commercialization, and manufacture of hydrogen and fuel cell systems used primarily for the material handling and stationary power markets. Its fuel cell system solution is designed to replace lead-acid batteries in electric material handling vehicles and industrial trucks for some distribution and manufacturing businesses.