Plug Power (NASDAQ:PLUG) Price target raised to $35.00
Power Plug (NASDAQ:PLUG – Get Rating) had its price target raised by stock analysts Susquehanna Bancshares from $30.00 to $35.00 in a research note released on Wednesday, Stock Target Advisor reports. The brokerage currently has a “positive” rating on the electronics maker’s stock. Susquehanna Bancshares’ price target would point to a potential upside of 22.46% from the stock’s previous close.
Other stock research analysts have also published research reports on the stock. Piper Sandler raised her price target on shares of Plug Power from $18.00 to $19.00 and gave the stock a “neutral” rating in a Tuesday, July 19 report. KeyCorp raised its price target on shares of Plug Power from $30.00 to $32.00 and gave the stock an “overweight” rating in a report on Wednesday. Morgan Stanley lowered its price target on shares of Plug Power from $43.00 to $42.00 and set an “overweight” rating on the stock in a Thursday, July 21 report. Northland Securities began covering Plug Power shares in a research note on Tuesday, August 2. They issued a “market performance” rating and a target price of $25.00 on the stock. Finally, Citigroup reduced its price target on shares of Plug Power to $20.00 and gave the stock an “na” rating in a Monday, May 16 research note. Seven investment analysts gave the stock a hold rating and ten gave the stock a buy rating. According to MarketBeat, Plug Power currently has a consensus rating of “Moderate Buy” and an average target price of $32.62.
Plug Power Trading up 15.8%
Shares of PLUG traded at $3.91 during trading hours on Wednesday, hitting $28.58. 1,445,664 shares of the stock traded in hands, compared to its average volume of 21,777,025. Plug Power has a 1-year low of $12.70 and a 1-year high of $46.50. The company has a fifty-day moving average price of $18.32 and a 200-day moving average price of $21.12. The company has a quick ratio of 10.51, a current ratio of 11.44 and a leverage ratio of 0.12. The company has a market capitalization of $16.52 billion, a PE ratio of -29.47 and a beta of 1.78.
Plug Power (NASDAQ:PLUG – Get Rating) last reported results on Tuesday, August 9. The electronics maker reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.20) from ($0.10). The company posted revenue of $151.30 million in the quarter, versus a consensus estimate of $162.31 million. Plug Power had a negative return on equity of 11.78% and a negative net margin of 97.29%. The company’s revenue increased 21.5% year over year. During the same period of the previous year, the company made ($0.18) earnings per share. On average, equity research analysts expect Plug Power to post -0.8 EPS for the current year.
Institutional investors weigh in on power-by-plug
Several large investors have recently changed their positions in the company. BlackRock Inc. increased its stake in shares of Plug Power by 5.1% during the 1st quarter. BlackRock Inc. now owns 50,496,523 shares of the electronics maker worth $1,444,708,000 after acquiring an additional 2,463,961 shares during the period. State Street Corp increased its position in Plug Power shares by 2.6% in the first quarter. State Street Corp now owns 13,677,472 shares of the electronics maker valued at $391,312,000 after acquiring 348,875 additional shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding SA increased its position in Plug Power shares by 24.1% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding SA now owns 13,421,127 shares of the electronics maker valued at $222,388,000 after acquiring an additional 2,607,500 shares in the last quarter. Norges Bank purchased a new equity stake in Plug Power during Q4, valued at approximately $208,732,000. Finally, Geode Capital Management LLC increased its stake in Plug Power shares by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 6,816,478 shares of the electronics maker valued at $192,165,000 after buying an additional 165,384 shares last quarter. 52.07% of the shares are held by hedge funds and other institutional investors.
Plug Power Company Profile
(Get a rating)
Plug Power Inc provides end-to-end clean hydrogen and zero-emission fuel cell solutions for supply chain and logistics applications, on-road electric vehicles, stationary energy market and others in North America and internationally. It is committed to building an end-to-end green hydrogen ecosystem, including the production, storage and delivery of green hydrogen, and power generation through mobile or stationary applications.
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