Fintel reports that on October 17, 2023, Morgan Stanley maintained coverage of Plug Power (NASDAQ:PLUG) with a Equal-Weight recommendation.
Analyst Price Forecast Suggests 139.62% Upside
As of October 5, 2023, the average one-year price target for Plug Power is 18.00. The forecasts range from a low of 7.58 to a high of $81.90. The average price target represents an increase of 139.62% from its latest reported closing price of 7.51.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Plug Power is 1,419MM, an increase of 61.28%. The projected annual non-GAAP EPS is -0.64.
What is the Fund Sentiment?
There are 825 funds or institutions reporting positions in Plug Power. This is a decrease of 50 owner(s) or 5.71% in the last quarter. Average portfolio weight of all funds dedicated to PLUG is 0.15%, an increase of 18.31%. Total shares owned by institutions decreased in the last three months by 0.18% to 310,123K shares. 
The put/call ratio of PLUG is 0.72, indicating a bullish outlook.
What are Other Shareholders Doing?
BNP Paribas Asset Management Holding holds 22,177K shares representing 3.68% ownership of the company. In it's prior filing, the firm reported owning 17,273K shares, representing an increase of 22.11%. The firm increased its portfolio allocation in PLUG by 74.59% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 18,909K shares representing 3.14% ownership of the company. In it's prior filing, the firm reported owning 18,095K shares, representing an increase of 4.30%. The firm decreased its portfolio allocation in PLUG by 14.53% over the last quarter.
ICLN - iShares Global Clean Energy ETF holds 10,517K shares representing 1.75% ownership of the company. In it's prior filing, the firm reported owning 11,706K shares, representing a decrease of 11.30%. The firm increased its portfolio allocation in PLUG by 46.11% over the last quarter.
Geode Capital Management holds 8,260K shares representing 1.37% ownership of the company. In it's prior filing, the firm reported owning 7,916K shares, representing an increase of 4.17%. The firm decreased its portfolio allocation in PLUG by 16.17% over the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 7,745K shares representing 1.29% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
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.
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