Plug Power (NASDAQ:PLUG) Research Coverage Started at Wells Fargo & Company


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Wells Fargo & Company started coverage on shares of Plug Power (NASDAQ:PLUG) in a report issued on Monday, The Fly reports. The firm issued an equal weight rating on the electronics maker’s stock.

A number of other brokerages have also recently weighed in on PLUG. Piper Sandler cut their price objective on shares of Plug Power from $48.00 to $42.00 in a report on Tuesday, April 6th. Craig Hallum dropped their target price on shares of Plug Power from $88.00 to $49.00 and set a buy rating on the stock in a research note on Tuesday, March 23rd. Truist Securities reiterated a hold rating and issued a $42.00 target price (down previously from $65.00) on shares of Plug Power in a research note on Tuesday, March 23rd. B. Riley upped their target price on shares of Plug Power from $79.00 to $83.00 in a research note on Thursday, January 28th. Finally, Truist downgraded shares of Plug Power from a buy rating to a hold rating in a research report on Wednesday, March 17th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $51.73.

Shares of NASDAQ PLUG opened at $25.24 on Monday. Plug Power has a 1 year low of $3.79 and a 1 year high of $75.49. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.95 and a quick ratio of 2.44. The company’s 50-day moving average is $37.11 and its 200 day moving average is $36.69. The stock has a market capitalization of $11.84 billion, a P/E ratio of -76.48 and a beta of 1.81.

Plug Power (NASDAQ:PLUG) last announced its quarterly earnings data on Thursday, February 25th. The electronics maker reported ($1.12) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($1.04). The business had revenue of $139.66 million during the quarter, compared to analysts’ expectations of $84.93 million. Plug Power had a negative return on equity of 37.12% and a negative net margin of 33.75%. Research analysts anticipate that Plug Power will post -0.34 earnings per share for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Penserra Capital Management LLC purchased a new position in Plug Power during the fourth quarter valued at $28,000. North Star Investment Management Corp. grew its stake in Plug Power by 30.5% during the fourth quarter. North Star Investment Management Corp. now owns 855 shares of the electronics maker’s stock valued at $29,000 after acquiring an additional 200 shares in the last quarter. Trustcore Financial Services LLC grew its stake in Plug Power by 375.0% during the fourth quarter. Trustcore Financial Services LLC now owns 950 shares of the electronics maker’s stock valued at $32,000 after acquiring an additional 750 shares in the last quarter. Chiron Capital Management LLC purchased a new position in Plug Power during the third quarter valued at $34,000. Finally, Psagot Investment House Ltd. bought a new position in Plug Power during the fourth quarter valued at $34,000. 50.89% of the stock is owned by institutional investors.

Plug Power Company Profile

Plug Power, Inc provides alternative energy technology, which focuses on the design, development, commercialization, and manufacture of hydrogen and fuel cell systems used primarily for the material handling and stationary power markets. Its fuel cell system solution is designed to replace lead-acid batteries in electric material handling vehicles and industrial trucks for some distribution and manufacturing businesses.

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Analyst Recommendations for Plug Power (NASDAQ:PLUG)

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