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

HC Wainwright reissued their buy rating on shares of Plug Power (NASDAQ:PLUG) in a research note published on Monday morning,Benzinga reports. HC Wainwright currently has a $3.00 price objective on the electronics maker’s stock.

PLUG has been the subject of several other reports. Morgan Stanley decreased their price objective on shares of Plug Power from $1.75 to $1.60 and set an “underweight” rating for the company in a research report on Thursday, March 6th. 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 report on Wednesday, March 5th. B. Riley dropped their price objective on Plug Power from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. BMO Capital Markets cut their target price on Plug Power from $1.60 to $1.40 and set an “underperform” rating on the stock in a research report on Wednesday, March 5th. Finally, Seaport Res Ptn downgraded Plug Power from a “hold” rating to a “strong sell” rating in a report on Monday, January 27th. Six analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $2.31.

Plug Power Stock Down 4.6 %

Shares of NASDAQ:PLUG opened at $1.46 on Monday. Plug Power has a fifty-two week low of $1.37 and a fifty-two week high of $4.90. The firm’s 50 day moving average price is $1.79 and its 200 day moving average price is $2.07. The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of -0.68 and a beta of 1.98.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PLUG. Oppenheimer & Co. Inc. purchased a new position in shares of Plug Power during the fourth quarter worth about $25,000. Pacific Sage Partners LLC acquired a new stake in Plug Power during the 4th quarter worth approximately $25,000. Jones Financial Companies Lllp grew its stake in shares of Plug Power by 107.4% in the 4th quarter. Jones Financial Companies Lllp now owns 11,730 shares of the electronics maker’s stock valued at $25,000 after purchasing an additional 6,074 shares during the last quarter. Callan Family Office LLC acquired a new position in shares of Plug Power in the fourth quarter valued at approximately $27,000. Finally, Ground Swell Capital LLC purchased a new stake in shares of Plug Power during the fourth quarter worth approximately $27,000. 43.48% of the stock is currently owned by institutional investors and hedge funds.

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.