Plug Power (NASDAQ:PLUG – Get Rating) had its target price upped by stock analysts at Wells Fargo & Company from $19.00 to $29.00 in a report released on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the electronics maker’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 0.55% from the stock’s previous close.
PLUG has been the subject of a number of other research reports. Morgan Stanley reduced their target price on Plug Power from $43.00 to $42.00 and set an “overweight” rating for the company in a report on Thursday, July 21st. Northland Securities began coverage on Plug Power in a report on Tuesday, August 2nd. They issued a “market perform” rating and a $25.00 price target for the company. Piper Sandler upped their target price on shares of Plug Power from $18.00 to $19.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 19th. JPMorgan Chase & Co. boosted their price target on Plug Power from $28.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, BMO Capital Markets lifted their price objective on Plug Power from $20.00 to $29.00 in a report on Wednesday. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $33.48.
Plug Power Stock Performance
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Shares of NASDAQ PLUG traded up $1.10 during mid-day trading on Friday, hitting $28.84. The company had a trading volume of 362,804 shares, compared to its average volume of 25,853,546. Plug Power has a 12 month low of $12.70 and a 12 month high of $46.50. The stock has a market cap of $16.69 billion, a price-to-earnings ratio of -26.58 and a beta of 1.78. The firm’s 50 day simple moving average is $18.73 and its two-hundred day simple moving average is $21.23. The company has a debt-to-equity ratio of 0.12, a current ratio of 9.10 and a quick ratio of 10.51.
Plug Power (NASDAQ:PLUG – Get Rating) last released its quarterly earnings data on Tuesday, August 9th. The electronics maker reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.10). Plug Power had a negative return on equity of 13.73% and a negative net margin of 105.26%. The company had revenue of $151.30 million for the quarter, compared to analyst estimates of $162.31 million. During the same quarter in the prior year, the company earned ($0.18) earnings per share. The business’s revenue was up 21.5% compared to the same quarter last year. As a group, equities research analysts forecast that Plug Power will post -0.8 earnings per share for the current year.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. Benjamin Edwards Inc. acquired a new stake in Plug Power during the 4th quarter worth approximately $25,000. Parkside Financial Bank & Trust grew its position in Plug Power by 929.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 968 shares of the electronics maker’s stock worth $27,000 after purchasing an additional 874 shares during the last quarter. Tyler Stone Wealth Management purchased a new position in Plug Power during the 4th quarter worth $28,000. Acima Private Wealth LLC purchased a new position in Plug Power during the fourth quarter worth about $28,000. Finally, Webster Bank N. A. raised its stake in shares of Plug Power by 62.4% during the 1st quarter. Webster Bank N. A. now owns 1,015 shares of the electronics maker’s stock worth $29,000 after buying an additional 390 shares in the last quarter. Hedge funds and other institutional investors own 52.07% of the company’s stock.
About Plug Power
Plug Power Inc delivers end-to-end clean hydrogen and zero-emissions fuel cell solutions for supply chain and logistics applications, on-road electric vehicles, stationary power market, and others in North America and internationally. It engages in building an end-to-end green hydrogen ecosystem, including green hydrogen production, storage and delivery, and energy generation through mobile or stationary applications.
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