Fintel reports that on December 6, 2023, Morgan Stanley downgraded their outlook for Plug Power (NASDAQ:PLUG) from Equal-Weight to Underweight .

Analyst Price Forecast Suggests 116.74% Upside

As of November 27, 2023, the average one-year price target for Plug Power is 9.19. The forecasts range from a low of 3.54 to a high of $26.25. The average price target represents an increase of 116.74% from its latest reported closing price of 4.24.

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The projected annual revenue for Plug Power is 1,419MM, an increase of 59.45%. The projected annual non-GAAP EPS is -0.64.

• For more in-depth coverage of Plug Power, view the free, crowd-sourced company research report on Finpedia.

What is the Fund Sentiment?

There are 819 funds or institutions reporting positions in Plug Power. This is an increase of 5 owner(s) or 0.61% in the last quarter. Average portfolio weight of all funds dedicated to PLUG is 0.15%, an increase of 13.47%. Total shares owned by institutions increased in the last three months by 4.84% to 325,482K shares. The put/call ratio of PLUG is 0.78, indicating a bullish outlook.

What are Other Shareholders Doing?

BNP Paribas Asset Management Holding holds 21,828K shares representing 3.60% ownership of the company. In it's prior filing, the firm reported owning 22,177K shares, representing a decrease of 1.60%. The firm decreased its portfolio allocation in PLUG by 28.75% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 18,925K shares representing 3.13% ownership of the company. In it's prior filing, the firm reported owning 18,909K shares, representing an increase of 0.09%. The firm decreased its portfolio allocation in PLUG by 24.01% over the last quarter.

NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 15,497K shares representing 2.56% ownership of the company. In it's prior filing, the firm reported owning 7,745K shares, representing an increase of 50.02%. The firm increased its portfolio allocation in PLUG by 53.46% over the last quarter.

Norges Bank holds 10,789K shares representing 1.78% ownership of the company. In it's prior filing, the firm reported owning 12,595K shares, representing a decrease of 16.74%. The firm increased its portfolio allocation in PLUG by 11.71% over the last quarter.

ICLN - iShares Global Clean Energy ETF holds 10,517K shares representing 1.74% 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.

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.