Plug Power (NASDAQ:PLUG) Coverage Initiated by Analysts at Redburn Atlantic

Stock analysts at Redburn Atlantic began coverage on shares of Plug Power (NASDAQ:PLUGGet Free Report) in a research report issued on Tuesday, Briefing.com reports. The brokerage set a “neutral” rating and a $4.50 price target on the electronics maker’s stock. Redburn Atlantic’s target price points to a potential upside of 3.57% from the stock’s current price.

A number of other equities analysts have also commented on PLUG. B. Riley cut their price objective on shares of Plug Power from $18.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, January 24th. Wells Fargo & Company dropped their price objective on Plug Power from $7.00 to $4.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 14th. Morgan Stanley reiterated an “underweight” rating and set a $3.00 target price (down from $3.50) on shares of Plug Power in a research note on Wednesday, December 6th. Piper Sandler lifted their price target on shares of Plug Power from $2.30 to $2.80 and gave the stock an “underweight” rating in a research note on Wednesday, January 24th. Finally, UBS Group cut their price target on shares of Plug Power from $15.50 to $5.00 and set a “buy” rating on the stock in a report on Tuesday, November 14th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Plug Power presently has an average rating of “Hold” and a consensus price target of $7.64.

Check Out Our Latest Report on Plug Power

Plug Power Stock Down 6.8 %

Shares of NASDAQ PLUG opened at $4.35 on Tuesday. Plug Power has a 12-month low of $2.26 and a 12-month high of $17.14. The company has a market cap of $2.63 billion, a P/E ratio of -2.72 and a beta of 1.67. The company has a current ratio of 2.41, a quick ratio of 1.31 and a debt-to-equity ratio of 0.15. The stock has a fifty day moving average price of $4.06 and a 200 day moving average price of $6.41.

Plug Power (NASDAQ:PLUGGet Free Report) last released its quarterly earnings results on Thursday, November 9th. The electronics maker reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.15). The company had revenue of $198.71 million during the quarter, compared to analysts’ expectations of $219.57 million. Plug Power had a negative return on equity of 24.18% and a negative net margin of 106.74%. The firm’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.30) EPS. Research analysts anticipate that Plug Power will post -1.69 EPS for the current fiscal year.

Institutional Investors Weigh In On Plug Power

Several institutional investors have recently bought and sold shares of PLUG. John G Ullman & Associates Inc. bought a new stake in Plug Power during the second quarter worth approximately $104,000. SCP Investment LP raised its holdings in Plug Power by 17.9% during the second quarter. SCP Investment LP now owns 19,800 shares of the electronics maker’s stock worth $206,000 after purchasing an additional 3,000 shares in the last quarter. FWL Investment Management LLC acquired a new position in Plug Power during the second quarter worth about $605,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its holdings in Plug Power by 43.5% during the second quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 606,377 shares of the electronics maker’s stock worth $6,300,000 after acquiring an additional 183,706 shares during the period. Finally, Bouvel Investment Partners LLC grew its holdings in Plug Power by 26.0% during the third quarter. Bouvel Investment Partners LLC now owns 187,248 shares of the electronics maker’s stock worth $1,423,000 after acquiring an additional 38,647 shares during the period. Institutional investors and hedge funds own 49.99% of the company’s stock.

About Plug Power

(Get Free Report)

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 liquid green hydrogen production, storage and handling, transportation, and dispensing infrastructure.

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Analyst Recommendations for Plug Power (NASDAQ:PLUG)

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