Plug Power (NASDAQ:PLUG - Get Free Report)'s stock had its "buy" rating reissued by HC Wainwright in a research report issued on Monday,Benzinga reports. They presently have a $3.00 target price on the electronics maker's stock. HC Wainwright's price target would indicate a potential upside of 108.33% from the stock's current price.
Several other brokerages have also recently issued reports on PLUG. Morgan Stanley reduced their price objective on Plug Power from $1.75 to $1.60 and set an "underweight" rating for the company in a research note on Thursday, March 6th. 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. Susquehanna cut their price objective 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. B. Riley lowered their price target on shares of Plug Power from $4.00 to $3.00 and set a "buy" rating on the stock in a report on Wednesday, March 5th. Finally, UBS Group reduced their price objective on Plug Power from $2.50 to $1.75 and set a "neutral" rating for the company in a research note on Friday, March 21st. Six analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $2.31.
Read Our Latest Report on PLUG
Plug Power Stock Performance
Shares of NASDAQ:PLUG traded down $0.02 on Monday, hitting $1.44. 40,656,224 shares of the company were exchanged, compared to its average volume of 48,016,725. The company has a current ratio of 2.08, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. The stock's 50 day moving average price is $1.79 and its 200 day moving average price is $2.07. Plug Power has a 1-year low of $1.37 and a 1-year high of $4.90. The firm has a market capitalization of $1.33 billion, a P/E ratio of -0.67 and a beta of 1.98.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of PLUG. Charles Schwab Investment Management Inc. lifted its position in shares of Plug Power by 25.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,637,039 shares of the electronics maker's stock valued at $15,000,000 after acquiring an additional 1,354,500 shares in the last quarter. XTX Topco Ltd acquired a new stake in Plug Power during the 3rd quarter worth $2,174,000. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Plug Power by 24.5% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,421,222 shares of the electronics maker's stock worth $5,472,000 after buying an additional 476,060 shares in the last quarter. Stifel Financial Corp raised its position in shares of Plug Power by 23.4% in the third quarter. Stifel Financial Corp now owns 1,398,398 shares of the electronics maker's stock valued at $3,160,000 after buying an additional 265,514 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its stake in shares of Plug Power by 166.4% in the third quarter. MetLife Investment Management LLC now owns 424,297 shares of the electronics maker's stock worth $959,000 after buying an additional 265,042 shares in the last quarter. 43.48% of the stock is owned by hedge funds and other institutional investors.
About Plug Power
(
Get Free Report)
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.
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