Northland Securities assumed coverage on shares of Plug Power (NASDAQ:PLUG – Get Rating) in a note issued to investors on Tuesday, MarketBeat reports. The firm set a “market perform” rating and a $25.00 price target on the electronics maker’s stock. Northland Securities’ price target points to a potential upside of 6.11% from the stock’s current price.
A number of other equities analysts have also recently weighed in on the company. KeyCorp reissued an “overweight” rating and set a $30.00 price objective on shares of Plug Power in a report on Thursday, June 30th. Piper Sandler raised their price target on Plug Power from $18.00 to $19.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 19th. Craig Hallum cut their price objective on Plug Power from $49.00 to $31.00 in a research report on Tuesday, May 10th. JPMorgan Chase & Co. cut their price objective on Plug Power from $32.00 to $28.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 29th. Finally, Susquehanna cut their price objective on Plug Power from $33.00 to $30.00 in a research report on Tuesday, May 10th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $33.00.
Plug Power Stock Up 1.4 %
PLUG stock opened at $23.56 on Tuesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 10.51 and a current ratio of 11.44. The company has a market capitalization of $13.62 billion, a price-to-earnings ratio of -24.29 and a beta of 1.78. Plug Power has a fifty-two week low of $12.70 and a fifty-two week high of $46.50. The stock has a fifty day moving average of $17.80 and a 200-day moving average of $21.05.
Institutional Trading of Plug Power
Several large investors have recently modified their holdings of the company. BlackRock Inc. grew its holdings in shares of Plug Power by 5.1% in the first quarter. BlackRock Inc. now owns 50,496,523 shares of the electronics maker’s stock worth $1,444,708,000 after acquiring an additional 2,463,961 shares during the period. State Street Corp grew its holdings in shares of Plug Power by 2.6% in the first quarter. State Street Corp now owns 13,677,472 shares of the electronics maker’s stock worth $391,312,000 after acquiring an additional 348,875 shares during the period. Norges Bank bought a new stake in shares of Plug Power in the fourth quarter worth $208,732,000. Geode Capital Management LLC grew its holdings in shares of Plug Power by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 6,816,478 shares of the electronics maker’s stock worth $192,165,000 after acquiring an additional 165,384 shares during the period. Finally, First Trust Advisors LP grew its holdings in shares of Plug Power by 14.3% in the first quarter. First Trust Advisors LP now owns 3,968,391 shares of the electronics maker’s stock worth $113,536,000 after acquiring an additional 495,702 shares during the period. Institutional investors own 52.07% of the company’s stock.
About Plug Power
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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