Brokerages Set Plug Power Inc. (NASDAQ:PLUG) PT at $4.12

Plug Power Inc. (NASDAQ:PLUG) has earned a consensus recommendation of “Hold” from the eighteen research firms that are currently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $2.34.

Several brokerages have recently issued reports on PLUG. Evercore ISI lowered their price objective on shares of Plug Power from $5.00 to $4.00 and set an “outperform” rating for the company in a research report on Wednesday, November 13th. B. Riley decreased 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 report on Wednesday, March 5th. Truist Financial decreased their target price on shares of Plug Power from $2.00 to $1.50 and set a “hold” rating for the company in a research report on Wednesday, March 5th. Seaport Res Ptn downgraded shares of Plug Power from a “hold” rating to a “strong sell” rating in a research report on Monday, January 27th. Finally, Wells Fargo & Company decreased their target price on shares of Plug Power from $3.00 to $2.00 and set an “equal weight” rating for the company in a research report on Thursday, November 14th.

Plug Power Stock Up 7.9 %

Shares of PLUG stock opened at $1.78 on Monday. The firm has a fifty day moving average of $2.05 and a 200-day moving average of $2.09. The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15. Plug Power has a 12-month low of $1.37 and a 12-month high of $4.90. The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of -0.83 and a beta of 1.98.

Institutional Trading of Plug Power

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Plug Power by 5.4% during the 4th quarter. Vanguard Group Inc. now owns 87,438,503 shares of the electronics maker’s stock worth $186,244,000 after buying an additional 4,491,114 shares during the last quarter. Norges Bank acquired a new stake in shares of Plug Power during the 4th quarter worth about $146,465,000. Geode Capital Management LLC lifted its stake in shares of Plug Power by 3.8% during the 4th quarter. Geode Capital Management LLC now owns 19,917,268 shares of the electronics maker’s stock worth $42,434,000 after buying an additional 722,639 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Plug Power by 8.5% during the 4th quarter. Legal & General Group Plc now owns 10,141,849 shares of the electronics maker’s stock worth $21,602,000 after buying an additional 796,774 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Plug Power by 11.1% during the 4th quarter. Northern Trust Corp now owns 7,907,687 shares of the electronics maker’s stock worth $16,843,000 after buying an additional 790,650 shares during the last quarter. Institutional investors and hedge funds own 43.48% of the company’s stock.

About Plug Power

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.