HC Wainwright Reiterates $4.00 Price Target for Plug Power (PLUG)

HC Wainwright set a $4.00 target price on Plug Power (NASDAQ:PLUG) in a research note released on Friday morning. The brokerage currently has a buy rating on the electronics maker’s stock.

A number of other research analysts have also weighed in on PLUG. ValuEngine lowered shares of Plug Power from a hold rating to a sell rating in a research note on Wednesday, July 4th. B. Riley set a $4.00 price target on shares of Plug Power and gave the company a buy rating in a research note on Tuesday, May 29th. BidaskClub raised shares of Plug Power from a hold rating to a buy rating in a research note on Saturday, July 14th. Finally, Zacks Investment Research lowered shares of Plug Power from a buy rating to a hold rating in a research note on Thursday, May 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $3.67.

Plug Power traded down $0.02, reaching $1.89, during trading on Friday, according to Marketbeat. The company had a trading volume of 15,451 shares, compared to its average volume of 2,271,407. The company has a debt-to-equity ratio of 2.15, a quick ratio of 0.87 and a current ratio of 1.28. Plug Power has a 12 month low of $1.53 and a 12 month high of $3.21. The firm has a market cap of $409.27 million, a P/E ratio of -3.20 and a beta of 1.09.

Plug Power (NASDAQ:PLUG) last announced its quarterly earnings results on Thursday, August 9th. The electronics maker reported ($0.12) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.03). Plug Power had a negative net margin of 66.16% and a negative return on equity of 91.74%. The company had revenue of $39.93 million during the quarter, compared to the consensus estimate of $40.52 million. During the same period in the previous year, the firm posted ($0.10) EPS. The business’s quarterly revenue was up 76.7% compared to the same quarter last year. sell-side analysts anticipate that Plug Power will post -0.19 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its holdings in shares of Plug Power by 0.9% in the second quarter. BlackRock Inc. now owns 14,625,123 shares of the electronics maker’s stock valued at $29,543,000 after purchasing an additional 125,482 shares during the last quarter. State of New Jersey Common Pension Fund D raised its holdings in shares of Plug Power by 2.3% in the first quarter. State of New Jersey Common Pension Fund D now owns 4,500,000 shares of the electronics maker’s stock valued at $8,505,000 after purchasing an additional 100,000 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Plug Power by 1.3% in the first quarter. Northern Trust Corp now owns 2,649,873 shares of the electronics maker’s stock valued at $5,008,000 after purchasing an additional 33,445 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of Plug Power by 3.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 1,168,416 shares of the electronics maker’s stock valued at $2,209,000 after purchasing an additional 35,299 shares during the last quarter. Finally, TIAA CREF Investment Management LLC raised its holdings in shares of Plug Power by 3.2% in the fourth quarter. TIAA CREF Investment Management LLC now owns 1,061,603 shares of the electronics maker’s stock valued at $2,505,000 after purchasing an additional 32,507 shares during the last quarter. Institutional investors own 29.38% of the company’s stock.

About Plug Power

Plug Power Inc, an alternative energy technology provider, engages in the design, development, commercialization, and manufacture of hydrogen and fuel cell systems for the material handling and stationary power markets primarily in North America and Europe. It focuses on proton exchange membrane (PEM) fuel cell and fuel processing technologies, fuel cell/battery hybrid technologies, and related hydrogen storage and dispensing infrastructure.

Further Reading: NASDAQ

Analyst Recommendations for Plug Power (NASDAQ:PLUG)

Receive News & Ratings for Plug Power Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Plug Power and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply