Plug Power (NASDAQ:PLUG) Receives Buy Rating from HC Wainwright

Plug Power (NASDAQ:PLUG)‘s stock had its “buy” rating restated by 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 suggest a potential upside of 92.93% from the stock’s previous close.

PLUG has been the topic of several other research reports. Morgan Stanley decreased their target price on Plug Power from $1.75 to $1.60 and set an “underweight” rating on the stock in a research report on Thursday, March 6th. B. Riley decreased their price objective on Plug Power from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. Canaccord Genuity Group dropped their target price on shares of Plug Power from $2.00 to $1.25 and set a “hold” rating for the company in a report on Wednesday, March 5th. Susquehanna decreased their price target on shares of Plug Power from $2.50 to $1.80 and set a “neutral” rating on the stock in a research note on Wednesday, March 5th. Finally, Truist Financial lowered their price target on shares of Plug Power from $2.00 to $1.50 and set a “hold” rating on the stock in a research report on Wednesday, March 5th. Six research 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 MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $2.31.

Plug Power Price Performance

Shares of PLUG stock traded up $0.03 on Monday, reaching $1.56. 41,282,709 shares of the company were exchanged, compared to its average volume of 47,779,538. The company has a market cap of $1.44 billion, a price-to-earnings ratio of -0.73 and a beta of 1.98. Plug Power has a 1 year low of $1.37 and a 1 year high of $4.90. The business has a 50-day moving average price of $1.86 and a 200 day moving average price of $2.07. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 2.08.

Institutional Investors Weigh In On Plug Power

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings 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 worth $186,244,000 after acquiring an additional 4,491,114 shares during the last quarter. Norges Bank acquired a new position in Plug Power during the fourth quarter worth $146,465,000. Geode Capital Management LLC boosted its position in shares of Plug Power by 3.8% during the fourth quarter. Geode Capital Management LLC now owns 19,917,268 shares of the electronics maker’s stock worth $42,434,000 after buying an additional 722,639 shares during the period. Legal & General Group Plc grew its stake in shares of Plug Power by 8.5% in the fourth quarter. Legal & General Group Plc now owns 10,141,849 shares of the electronics maker’s stock valued at $21,602,000 after buying an additional 796,774 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of Plug Power by 11.1% in the fourth quarter. Northern Trust Corp now owns 7,907,687 shares of the electronics maker’s stock valued at $16,843,000 after buying an additional 790,650 shares in the last quarter. 43.48% of the stock is currently owned by institutional investors and hedge funds.

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.