Royal Bank Of Canada Reaffirms Sector Perform Rating for Plug Power (NASDAQ:PLUG)

Plug Power (NASDAQ:PLUG)‘s stock had its “sector perform” rating reissued by investment analysts at Royal Bank Of Canada in a research note issued on Tuesday, Benzinga reports. They presently have a $2.00 target price on the electronics maker’s stock. Royal Bank Of Canada‘s price target suggests a potential upside of 33.33% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. HC Wainwright reiterated a “buy” rating and issued a $7.00 target price on shares of Plug Power in a research note on Tuesday. Wall Street Zen raised Plug Power from a “strong sell” rating to a “sell” rating in a research report on Saturday, October 17th. Morgan Stanley restated an “underweight” rating and issued a $1.20 price target on shares of Plug Power in a report on Wednesday, October 14th. KeyCorp reaffirmed a “sector weight” rating on shares of Plug Power in a research report on Tuesday. Finally, UBS Group reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Plug Power in a research report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Plug Power presently has an average rating of “Hold” and an average price target of $3.29.

Plug Power Stock Up 3.4%

PLUG stock opened at $1.50 on Tuesday. The stock has a market capitalization of $2.10 billion, a P/E ratio of -1.19 and a beta of 2.13. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.32 and a current ratio of 2.32. Plug Power has a one year low of $1.30 and a one year high of $4.33. The company has a 50 day moving average price of $1.76 and a two-hundred day moving average price of $2.36.

Plug Power (NASDAQ:PLUG) last posted its quarterly earnings data on Monday, November 9th. The electronics maker reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.05). Plug Power had a negative net margin of 220.59% and a negative return on equity of 56.01%. The company had revenue of $200.60 million for the quarter, compared to analyst estimates of $198.36 million. As a group, sell-side analysts expect that Plug Power will post -0.25 EPS for the current year.

Insider Activity

In other news, insider Benjamin Haycraft sold 200,000 shares of Plug Power stock in a transaction dated Friday, September 18th. The stock was sold at an average price of $2.14, for a total transaction of $428,000.00. Following the sale, the insider directly owned 101,249 shares of the company’s stock, valued at approximately $216,672.86. The trade was a 66.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 241,935 shares of company stock worth $509,397 over the last 90 days. 1.37% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Plug Power

Hedge funds have recently bought and sold shares of the business. Ameritas Advisory Services LLC purchased a new stake in Plug Power during the 2nd quarter worth approximately $25,000. Greenleaf Trust acquired a new position in shares of Plug Power in the 2nd quarter valued at approximately $29,000. Alta Advisers Ltd purchased a new position in shares of Plug Power during the 3rd quarter valued at approximately $31,000. 71 West Capital Partners purchased a new position in shares of Plug Power during the 3rd quarter valued at approximately $31,000. Finally, Oppenheimer & Co. Inc. purchased a new position in shares of Plug Power during the 3rd quarter valued at approximately $33,000. Institutional investors and hedge funds own 43.48% of the company’s stock.

Plug Power News Roundup

Here are the key news stories impacting Plug Power this week:

• Positive Sentiment: Plug reported Q3 revenue of $200.6 million, above analysts’ $198.36 million estimate. It also reaffirmed its 15%–16% revenue-growth outlook and forecast roughly $280 million in Q4 revenue, while targeting positive EBITDAS. Plug reaffirms revenue growth outlook and Q4 forecast
• Negative Sentiment: The company’s Q3 loss of $0.12 per share was wider than the $0.07 loss analysts expected and matched its year-ago loss, underscoring that profitability remains elusive. Plug reports Q3 loss and beats revenue estimates

About Plug Power

Plug Power Inc develops hydrogen fuel cell and hydrogen-generation solutions for businesses seeking alternatives to conventional power and fuel sources. Its offerings include fuel cell systems, electrolyzers that produce hydrogen, hydrogen storage and handling equipment, and related infrastructure and services.

The company’s products are used in applications such as material-handling equipment, including warehouse forklifts, as well as stationary power and other industrial and mobility uses.