Morgan Stanley restated their equal weight rating on shares of Plug Power (NASDAQ:PLUG) in a research note released on Monday, Benzinga reports. The firm currently has a $35.00 price objective on the electronics maker’s stock.
A number of other research firms also recently commented on PLUG. Sanford C. Bernstein began coverage on Plug Power in a research report on Wednesday, February 3rd. They set an outperform rating and a $75.00 target price for the company. Zacks Investment Research upgraded Plug Power from a sell rating to a hold rating in a research report on Thursday, March 25th. Canaccord Genuity raised their price target on Plug Power from $25.00 to $48.00 and gave the stock a buy rating in a research report on Thursday, January 7th. Roth Capital restated a buy rating and issued a $65.00 price target on shares of Plug Power in a research report on Monday, March 8th. Finally, Craig Hallum lowered their price target on Plug Power from $88.00 to $49.00 and set a buy rating for the company in a research report on Tuesday, March 23rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company. The stock has a consensus rating of Buy and an average price target of $49.88.
NASDAQ PLUG opened at $25.25 on Monday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.44 and a current ratio of 2.95. The company has a market capitalization of $11.85 billion, a P/E ratio of -76.52 and a beta of 1.81. Plug Power has a one year low of $3.79 and a one year high of $75.49. The stock has a 50 day moving average price of $36.65 and a 200-day moving average price of $36.74.
A number of hedge funds have recently added to or reduced their stakes in PLUG. Norges Bank purchased a new stake in Plug Power in the fourth quarter worth $220,881,000. Alliancebernstein L.P. increased its stake in shares of Plug Power by 252.5% during the fourth quarter. Alliancebernstein L.P. now owns 8,398,495 shares of the electronics maker’s stock valued at $284,793,000 after buying an additional 6,015,971 shares during the period. BlackRock Inc. increased its stake in shares of Plug Power by 14.6% during the fourth quarter. BlackRock Inc. now owns 47,161,335 shares of the electronics maker’s stock valued at $1,599,242,000 after buying an additional 6,007,080 shares during the period. First Trust Advisors LP increased its stake in shares of Plug Power by 79.9% during the fourth quarter. First Trust Advisors LP now owns 2,871,846 shares of the electronics maker’s stock valued at $97,384,000 after buying an additional 1,275,076 shares during the period. Finally, Federated Hermes Inc. increased its stake in shares of Plug Power by 677.7% during the fourth quarter. Federated Hermes Inc. now owns 1,281,060 shares of the electronics maker’s stock valued at $43,441,000 after buying an additional 1,116,331 shares during the period. Institutional investors and hedge funds own 50.89% of the company’s stock.
About Plug Power
Plug Power, Inc provides alternative energy technology, which focuses on the design, development, commercialization, and manufacture of hydrogen and fuel cell systems used primarily for the material handling and stationary power markets. Its fuel cell system solution is designed to replace lead-acid batteries in electric material handling vehicles and industrial trucks for some distribution and manufacturing businesses.
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