Plug Power (NASDAQ:PLUG) Now Covered by Northland Securities

Northland Securities assumed coverage on shares of Plug Power (NASDAQ:PLUGGet 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.

Plug Power (NASDAQ:PLUGGet Rating) last issued its quarterly earnings data on Monday, May 9th. The electronics maker reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $140.80 million for the quarter, compared to analysts’ expectations of $142.99 million. During the same period last year, the company posted ($0.12) EPS. The business’s revenue for the quarter was up 95.7% on a year-over-year basis. As a group, equities research analysts predict that Plug Power will post -0.76 earnings per share for the current year.

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

(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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