Plug Power's (PLUG) Buy Rating Reiterated at HC Wainwright

Plug Power (NASDAQ:PLUG - Get Free Report)'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 target price on the electronics maker's stock. HC Wainwright's price target suggests a potential upside of 124.72% from the stock's previous close.

Several other equities research analysts have also recently weighed in on PLUG. Piper Sandler decreased their price target on Plug Power from $1.40 to $1.10 and set an "underweight" rating for the company in a research note on Wednesday, March 5th. UBS Group lowered their price target on shares of Plug Power from $2.50 to $1.75 and set a "neutral" rating for the company in a report on Friday, March 21st. Susquehanna reduced 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 target price on shares of Plug Power from $4.00 to $3.00 and set a "buy" rating for the company in a research note on Wednesday, March 5th. Finally, Seaport Res Ptn lowered shares of Plug Power from a "hold" rating to a "strong sell" rating in a report on Monday, January 27th. Six research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Plug Power presently has an average rating of "Hold" and a consensus price target of $2.31.

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Plug Power Price Performance

Shares of NASDAQ PLUG traded down $0.11 during mid-day trading on Monday, hitting $1.34. 64,255,361 shares of the stock traded hands, compared to its average volume of 48,552,318. The firm has a 50 day simple moving average of $1.76 and a two-hundred day simple moving average of $2.06. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.08 and a quick ratio of 0.95. Plug Power has a twelve month low of $1.34 and a twelve month high of $4.90. The company has a market cap of $1.24 billion, a PE ratio of -0.62 and a beta of 1.98.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. boosted its position in shares of Plug Power by 53.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 15,410 shares of the electronics maker's stock valued at $33,000 after buying an additional 5,348 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Plug Power by 0.7% during the 3rd 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 last quarter. Compagnie Lombard Odier SCmA grew its stake in shares of Plug Power by 12.8% in 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 raised its holdings in shares of Plug Power by 79.9% in the third quarter. Millburn Ridgefield Corp now owns 12,681 shares of the electronics maker's stock valued at $29,000 after purchasing an additional 5,631 shares during the last quarter. Finally, 49 Wealth Management LLC lifted its position in shares of Plug Power by 25.0% during the fourth 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 in the last quarter. 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.