Plug Power (NASDAQ:PLUG – Get Rating)‘s stock had its “buy” rating reaffirmed by research analysts at Roth Capital in a report issued on Thursday, PriceTargets.com reports.
Other analysts also recently issued research reports about the stock. Canaccord Genuity Group dropped their target price on shares of Plug Power from $21.00 to $16.00 and set a “hold” rating for the company in a research report on Friday. TheStreet downgraded Plug Power from a “c-” rating to a “d+” rating in a report on Monday, October 10th. KeyCorp increased their target price on Plug Power from $30.00 to $32.00 and gave the company an “overweight” rating in a research note on Wednesday, August 10th. Susquehanna Bancshares boosted their price target on Plug Power from $30.00 to $35.00 and gave the stock a “positive” rating in a research report on Wednesday, August 10th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Plug Power from $32.00 to $28.00 and set an “overweight” rating on the stock in a research note on Thursday, October 13th. Eight analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $32.54.
Plug Power Price Performance
Shares of NASDAQ:PLUG opened at $16.49 on Thursday. The business has a fifty day simple moving average of $24.58 and a 200-day simple moving average of $21.47. Plug Power has a 52 week low of $12.70 and a 52 week high of $46.50. The company has a market cap of $9.54 billion, a P/E ratio of -15.13 and a beta of 1.75. The company has a quick ratio of 8.10, a current ratio of 9.10 and a debt-to-equity ratio of 0.12.
Plug Power (NASDAQ:PLUG – Get Rating) last announced its quarterly earnings data on Tuesday, August 9th. The electronics maker reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.09). 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 analysts’ expectations of $162.31 million. During the same quarter in the previous year, the company earned ($0.18) earnings per share. The company’s revenue was up 21.5% on a year-over-year basis. Equities research analysts forecast that Plug Power will post -1 EPS for the current year.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of PLUG. Quaero Capital S.A. lifted its holdings in shares of Plug Power by 3.5% during the 1st quarter. Quaero Capital S.A. now owns 234,268 shares of the electronics maker’s stock valued at $6,702,000 after buying an additional 7,876 shares during the last quarter. Flagship Harbor Advisors LLC bought a new stake in shares of Plug Power in the first quarter valued at approximately $365,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its position in Plug Power by 1,642.9% in the 1st quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,220 shares of the electronics maker’s stock worth $35,000 after purchasing an additional 1,150 shares during the last quarter. Gofen & Glossberg LLC IL raised its position in shares of Plug Power by 11.2% during the first quarter. Gofen & Glossberg LLC IL now owns 14,940 shares of the electronics maker’s stock valued at $427,000 after buying an additional 1,500 shares during the last quarter. Finally, IFM Investors Pty Ltd lifted its stake in shares of Plug Power by 18.4% in the first quarter. IFM Investors Pty Ltd now owns 76,132 shares of the electronics maker’s stock valued at $2,178,000 after buying an additional 11,814 shares during the period. 51.09% of the stock is owned by institutional investors and hedge funds.
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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Read More: Roth Capital Reiterates Buy Rating for Plug Power (NASDAQ:PLUG)