Wells Fargo & Company Raises Plug Power (NASDAQ:PLUG) Price Target to $29.00

Plug Power (NASDAQ:PLUG – Get Rating) had its price objective increased by equities researchers at Wells Fargo & Company from $19.00 to $29.00 in a research note issued to investors on Friday, The Fly reports. The brokerage currently has an “equal weight” rating on the electronics maker’s stock. Wells Fargo & Company‘s price objective points to a potential downside of 1.83% from the stock’s current price.

PLUG has been the topic of several other reports. Susquehanna Bancshares boosted their price target on shares of Plug Power from $30.00 to $35.00 and gave the stock a “positive” rating in a report on Wednesday. BMO Capital Markets boosted their price target on shares of Plug Power from $20.00 to $29.00 in a report on Wednesday. Northland Securities initiated coverage on shares of Plug Power in a report on Tuesday, August 2nd. They set a “market perform” rating and a $25.00 price target on the stock. Craig Hallum cut their price target on shares of Plug Power from $49.00 to $31.00 in a report on Tuesday, May 10th. Finally, Truist Financial boosted their price target on shares of Plug Power from $21.00 to $32.00 and gave the stock a “hold” rating in a report on Thursday. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Plug Power presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.48.

Plug Power Trading Up 6.5 %

NASDAQ:PLUG opened at $29.54 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 9.10 and a quick ratio of 10.51. The firm has a 50-day moving average of $18.96 and a 200-day moving average of $21.31. The company has a market cap of $17.09 billion, a PE ratio of -27.10 and a beta of 1.78. Plug Power has a one year low of $12.70 and a one year high of $46.50.

Plug Power (NASDAQ:PLUG – Get Rating) last posted its earnings results on Tuesday, August 9th. The electronics maker reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.10). The business had revenue of $151.30 million for the quarter, compared to the consensus estimate of $162.31 million. Plug Power had a negative return on equity of 13.73% and a negative net margin of 105.26%. The company’s revenue was up 21.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.18) earnings per share. As a group, equities research analysts expect that Plug Power will post -0.87 EPS for the current fiscal year.

Institutional Trading of Plug Power

Hedge funds and other institutional investors have recently modified their holdings of the business. Benjamin Edwards Inc. bought a new stake in shares of Plug Power in the fourth quarter valued at approximately $25,000. Parkside Financial Bank & Trust increased its holdings in Plug Power by 929.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 968 shares of the electronics maker’s stock worth $27,000 after acquiring an additional 874 shares during the period. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in Plug Power during the 2nd quarter worth approximately $27,000. Acima Private Wealth LLC bought a new stake in Plug Power during the 4th quarter worth approximately $28,000. Finally, Tyler Stone Wealth Management bought a new stake in Plug Power during the 4th quarter worth approximately $28,000. Institutional investors own 52.07% of the company’s stock.

Plug Power Company Profile

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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.