HC Wainwright Reaffirms “Buy” Rating for Plug Power (NASDAQ:PLUG)

Plug Power (NASDAQ:PLUG)‘s stock had its “buy” rating reissued by analysts at HC Wainwright in a report issued on Monday,Benzinga reports. They currently have a $3.00 price objective on the electronics maker’s stock. HC Wainwright’s price target indicates a potential upside of 92.93% from the stock’s current price.

Several other research analysts have also recently commented on PLUG. Canaccord Genuity Group lowered their target price on Plug Power from $2.00 to $1.25 and set a “hold” rating for the company in a research note on Wednesday, March 5th. Truist Financial cut their target price on shares of Plug Power from $2.00 to $1.50 and set a “hold” rating on the stock in a research note on Wednesday, March 5th. Piper Sandler reduced their target price on shares of Plug Power from $1.40 to $1.10 and set an “underweight” rating on the stock in a report on Wednesday, March 5th. Morgan Stanley lowered their price target on shares of Plug Power from $1.75 to $1.60 and set an “underweight” rating for the company in a report on Thursday, March 6th. Finally, StockNews.com upgraded shares of Plug Power to a “sell” rating in a report on Tuesday, March 4th. Six analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $2.31.

Plug Power Stock Up 1.6 %

Plug Power stock traded up $0.03 during mid-day trading on Monday, reaching $1.56. 41,282,709 shares of the company’s stock were exchanged, compared to its average volume of 47,779,538. 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 twelve month low of $1.37 and a twelve month high of $4.90. The company has a market cap of $1.44 billion, a P/E ratio of -0.73 and a beta of 1.98. The company has a fifty day moving average of $1.86 and a 200-day moving average of $2.07.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. 111 Capital purchased a new stake in shares of Plug Power in the fourth quarter valued at about $89,000. Wealth Enhancement Advisory Services LLC raised its stake in Plug Power by 35.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 64,440 shares of the electronics maker’s stock valued at $137,000 after acquiring an additional 16,878 shares during the last quarter. Pinnacle Wealth Planning Services Inc. acquired a new stake in Plug Power during the 4th quarter worth approximately $60,000. Toronto Dominion Bank purchased a new position in shares of Plug Power in the 4th quarter valued at approximately $270,000. Finally, Retirement Planning Group LLC NY acquired a new position in shares of Plug Power in the fourth quarter valued at approximately $38,000. 43.48% of the stock is owned by hedge funds and other institutional investors.

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.