Plug Power (NASDAQ:PLUG) Earns “Buy” Rating from HC Wainwright

Plug Power (NASDAQ:PLUG)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $3.00 price objective on the electronics maker’s stock. HC Wainwright’s target price would indicate a potential upside of 96.08% from the stock’s current price.

PLUG has been the topic of several other reports. Susquehanna dropped their price objective on Plug Power from $2.50 to $1.80 and set a “neutral” rating on the stock in a research report on Wednesday, March 5th. BMO Capital Markets dropped their price target on shares of Plug Power from $1.60 to $1.40 and set an “underperform” rating on the stock in a report on Wednesday, March 5th. StockNews.com raised shares of Plug Power to a “sell” rating in a report on Tuesday, March 4th. Piper Sandler dropped their target price on shares of Plug Power from $1.40 to $1.10 and set an “underweight” rating on the stock in a report on Wednesday, March 5th. Finally, Truist Financial decreased their target price on shares of Plug Power from $2.00 to $1.50 and set a “hold” rating for the company in a research note on Wednesday, March 5th. Six investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Plug Power has a consensus rating of “Hold” and a consensus target price of $2.31.

Plug Power Price Performance

Shares of NASDAQ PLUG opened at $1.53 on Monday. The company has a 50 day moving average of $1.81 and a 200 day moving average of $2.07. 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 twelve month low of $1.37 and a twelve month high of $4.90. The firm has a market cap of $1.42 billion, a P/E ratio of -0.71 and a beta of 1.98.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. lifted its holdings in shares of Plug Power by 53.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 15,410 shares of the electronics maker’s stock worth $33,000 after buying an additional 5,348 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Plug Power by 0.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 803,881 shares of the electronics maker’s stock worth $1,817,000 after acquiring an additional 5,485 shares during the period. Compagnie Lombard Odier SCmA grew its holdings in Plug Power by 12.8% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 49,000 shares of the electronics maker’s stock worth $104,000 after acquiring an additional 5,550 shares in the last quarter. Millburn Ridgefield Corp grew its holdings in Plug Power by 79.9% during the 3rd quarter. Millburn Ridgefield Corp now owns 12,681 shares of the electronics maker’s stock worth $29,000 after acquiring an additional 5,631 shares in the last quarter. Finally, 49 Wealth Management LLC increased its position in Plug Power by 25.0% during the 4th quarter. 49 Wealth Management LLC now owns 29,180 shares of the electronics maker’s stock valued at $62,000 after purchasing an additional 5,834 shares during the period. Hedge funds and other 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.