Fintel reports that on May 1, 2023, JP Morgan maintained coverage of Plug Power (NASDAQ:PLUG) with a Overweight recommendation.
Analyst Price Forecast Suggests 149.67% Upside
As of April 24, 2023, the average one-year price target for Plug Power is 22.02. The forecasts range from a low of 9.09 to a high of $42.00. The average price target represents an increase of 149.67% from its latest reported closing price of 8.82.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Plug Power is 1,419MM, an increase of 102.30%. The projected annual non-GAAP EPS is -0.64.
What is the Fund Sentiment?
There are 909 funds or institutions reporting positions in Plug Power. This is a decrease of 21 owner(s) or 2.26% in the last quarter. Average portfolio weight of all funds dedicated to PLUG is 0.22%, an increase of 19.78%. Total shares owned by institutions increased in the last three months by 3.34% to 330,115K shares. 
The put/call ratio of PLUG is 0.74, indicating a bullish outlook.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 17,772K shares representing 2.99% ownership of the company. In it's prior filing, the firm reported owning 17,285K shares, representing an increase of 2.74%. The firm decreased its portfolio allocation in PLUG by 44.10% over the last quarter.
Voya Investment Management holds 17,398K shares representing 2.93% ownership of the company. In it's prior filing, the firm reported owning 18,017K shares, representing a decrease of 3.56%. The firm decreased its portfolio allocation in PLUG by 44.31% over the last quarter.
BNP Paribas Asset Management Holding holds 17,214K shares representing 2.90% ownership of the company. In it's prior filing, the firm reported owning 10,178K shares, representing an increase of 40.87%. The firm decreased its portfolio allocation in PLUG by 9.54% over the last quarter.
Norges Bank holds 17,072K shares representing 2.88% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
VIMSX - Vanguard Mid-Cap Index Fund Investor Shares holds 13,554K shares representing 2.28% ownership of the company. In it's prior filing, the firm reported owning 13,333K shares, representing an increase of 1.63%. The firm decreased its portfolio allocation in PLUG by 45.03% over the last quarter.
Plug Power Background Information
(This description is provided by the company.)
Plug Power is building the hydrogen economy as the leading provider of comprehensive hydrogen fuel cell (HFC) turnkey solutions. The company's innovative technology powers electric motors with hydrogen fuel cells amid an ongoing paradigm shift in the power, energy, and transportation industries to address climate change and energy security, while providing efficiency gains and meeting sustainability goals. Plug Power created the first commercially viable market for hydrogen fuel cell (HFC) technology. As a result, the company has deployed over 40,000 fuel cell systems for e-mobility, more than anyone else in the world, and has become the largest buyer of liquid hydrogen, having built and operated a hydrogen highway across North America. Plug Power delivers a significant value proposition to end-customers, including meaningful environmental benefits, efficiency gains, fast fueling, and lower operational costs. Plug Power's vertically-integrated GenKey solution ties together all critical elements to power, fuel, and provide service to customers such as Amazon, BMW, The Southern Company, Carrefour, and Walmart. The company is now leveraging its know-how, modular product architecture and foundational customers to rapidly expand into other key markets including zero-emission on-road vehicles, robotics, and data centers.
See all Plug Power regulatory filings.
This story originally appeared on Fintel.
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