Plug Power (NASDAQ:PLUG) Coverage Initiated at Northland Securities

Northland Securities assumed coverage on shares of Plug Power (NASDAQ:PLUGGet Rating) in a research note published on Tuesday, MarketBeat reports. The firm issued a market perform rating and a $25.00 price target on the electronics maker’s stock.

Several other research analysts have also commented on PLUG. KeyCorp restated an overweight rating and set a $30.00 price target on shares of Plug Power in a research report on Thursday, June 30th. Citigroup reduced their price objective on Plug Power to $20.00 and set a na rating on the stock in a research note on Monday, May 16th. JPMorgan Chase & Co. reduced their price objective on Plug Power from $32.00 to $28.00 and set an overweight rating on the stock in a research note on Wednesday, June 29th. Morgan Stanley reduced their price objective on Plug Power from $43.00 to $42.00 and set an overweight rating on the stock in a research note on Thursday, July 21st. Finally, Piper Sandler increased their price objective on Plug Power from $18.00 to $19.00 and gave the company a neutral rating in a research note on Tuesday, July 19th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $33.00.

Plug Power Trading Up 4.5 %

Shares of Plug Power stock opened at $25.19 on Tuesday. Plug Power has a fifty-two week low of $12.70 and a fifty-two week high of $46.50. The stock has a 50 day moving average of $18.07 and a 200 day moving average of $21.07. The firm has a market capitalization of $14.56 billion, a price-to-earnings ratio of -25.97 and a beta of 1.78. The company has a debt-to-equity ratio of 0.12, a quick ratio of 10.51 and a current ratio of 11.44.

Plug Power (NASDAQ:PLUGGet Rating) last released its quarterly earnings results on Monday, May 9th. The electronics maker reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.11). Plug Power had a negative return on equity of 11.78% and a negative net margin of 97.29%. The firm had revenue of $140.80 million for the quarter, compared to analysts’ expectations of $142.99 million. During the same quarter in the prior year, the business earned ($0.12) earnings per share. The company’s quarterly revenue was up 95.7% on a year-over-year basis. As a group, research analysts predict that Plug Power will post -0.8 earnings per share for the current year.

Hedge Funds Weigh In On Plug Power

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Webster Bank N. A. grew its holdings in shares of Plug Power by 62.4% during the first quarter. Webster Bank N. A. now owns 1,015 shares of the electronics maker’s stock worth $29,000 after buying an additional 390 shares during the last quarter. Flputnam Investment Management Co. grew its holdings in shares of Plug Power by 6.2% during the fourth quarter. Flputnam Investment Management Co. now owns 8,361 shares of the electronics maker’s stock worth $236,000 after buying an additional 485 shares during the last quarter. Vigilant Capital Management LLC grew its holdings in shares of Plug Power by 9.5% during the first quarter. Vigilant Capital Management LLC now owns 5,750 shares of the electronics maker’s stock worth $165,000 after buying an additional 500 shares during the last quarter. Clearstead Advisors LLC grew its holdings in shares of Plug Power by 19.6% during the first quarter. Clearstead Advisors LLC now owns 3,045 shares of the electronics maker’s stock worth $87,000 after buying an additional 500 shares during the last quarter. Finally, CIBC Asset Management Inc grew its holdings in shares of Plug Power by 1.9% during the first quarter. CIBC Asset Management Inc now owns 28,496 shares of the electronics maker’s stock worth $815,000 after buying an additional 522 shares during the last quarter. Hedge funds and other institutional investors own 52.07% of the company’s stock.

Plug Power Company Profile

(Get Rating)

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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