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

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

PLUG has been the subject of several other reports. Seaport Res Ptn downgraded Plug Power from a “hold” rating to a “strong sell” rating in a research note on Monday, January 27th. BMO Capital Markets decreased their price objective on shares of Plug Power from $1.60 to $1.40 and set an “underperform” rating on the stock in a report on Wednesday, March 5th. Susquehanna cut their target price on shares of Plug Power from $2.50 to $1.80 and set a “neutral” rating for the company in a research note on Wednesday, March 5th. Morgan Stanley decreased their price target on shares of Plug Power from $1.75 to $1.60 and set an “underweight” rating on the stock in a research note on Thursday, March 6th. Finally, StockNews.com raised Plug Power to a “sell” rating in a report on Tuesday, March 4th. Six investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $2.31.

Plug Power Trading Down 4.6 %

PLUG stock opened at $1.46 on Monday. Plug Power has a 52-week low of $1.37 and a 52-week high of $4.90. 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 firm has a market cap of $1.35 billion, a P/E ratio of -0.68 and a beta of 1.98. The company’s 50-day simple moving average is $1.79 and its 200-day simple moving average is $2.07.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PLUG. Norges Bank purchased a new stake in shares of Plug Power in the 4th quarter valued at $146,465,000. Point72 Asset Management L.P. purchased a new position in shares of Plug Power in the fourth quarter valued at approximately $10,370,000. Vanguard Group Inc. grew its holdings in shares of Plug Power by 5.4% in the fourth quarter. Vanguard Group Inc. now owns 87,438,503 shares of the electronics maker’s stock valued at $186,244,000 after purchasing an additional 4,491,114 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Plug Power by 23.6% during the 3rd quarter. Geode Capital Management LLC now owns 19,194,629 shares of the electronics maker’s stock worth $43,388,000 after buying an additional 3,662,456 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Plug Power in the 4th quarter valued at approximately $6,235,000. 43.48% of the stock is currently owned by institutional investors and hedge funds.

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.