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

Plug Power (NASDAQ:PLUG)‘s stock had its “buy” rating restated by equities research analysts at HC Wainwright in a report issued on Wednesday,Benzinga reports. They presently have a $18.00 price objective on the electronics maker’s stock.

A number of other research firms have also recently weighed in on PLUG. Royal Bank of Canada decreased their price target on Plug Power from $3.50 to $2.50 and set a “sector perform” rating for the company in a report on Monday, August 12th. Jefferies Financial Group lowered their price target on shares of Plug Power from $2.20 to $2.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Susquehanna cut their price objective on shares of Plug Power from $3.00 to $2.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Craig Hallum lowered their target price on Plug Power from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Finally, Truist Financial cut their price target on Plug Power from $3.00 to $2.00 and set a “hold” rating on the stock in a research note on Monday, August 12th. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $4.86.

Plug Power Trading Down 4.0 %

NASDAQ:PLUG opened at $1.91 on Wednesday. Plug Power has a 12 month low of $1.60 and a 12 month high of $5.14. The business’s 50-day moving average is $2.06 and its two-hundred day moving average is $2.41. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.07 and a quick ratio of 0.91. The firm has a market capitalization of $1.68 billion, a PE ratio of -0.81 and a beta of 1.81.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Empowered Funds LLC bought a new position in Plug Power during the 1st quarter valued at $48,000. Swiss National Bank boosted its stake in Plug Power by 0.8% during the first quarter. Swiss National Bank now owns 1,075,988 shares of the electronics maker’s stock valued at $3,701,000 after buying an additional 8,300 shares in the last quarter. Headlands Technologies LLC acquired a new position in Plug Power during the first quarter worth about $154,000. State Board of Administration of Florida Retirement System raised its position in Plug Power by 5.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 600,188 shares of the electronics maker’s stock worth $2,065,000 after acquiring an additional 33,311 shares in the last quarter. Finally, HBK Sorce Advisory LLC bought a new stake in Plug Power in the first quarter worth about $37,000. 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.