Plug Power (NASDAQ:PLUG) Stock Rating Reaffirmed by HC Wainwright

Plug Power (NASDAQ:PLUG)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a research report issued to clients and investors on Thursday, November 9th. They currently have a $4.00 price target on the electronics maker’s stock. HC Wainwright’s price objective would indicate a potential upside of 70.21% from the stock’s current price.

A number of other equities analysts have also issued reports on the stock. B. Riley restated a “buy” rating and set a $3.50 target price on shares of Plug Power in a research report on Thursday, November 9th. FBR & Co restated a “buy” rating on shares of Plug Power in a research report on Tuesday, October 31st. Zacks Investment Research upgraded shares of Plug Power from a “sell” rating to a “hold” rating in a research report on Tuesday, October 17th. Cowen restated a “buy” rating and set a $3.00 target price on shares of Plug Power in a research report on Tuesday, October 17th. Finally, Craig Hallum raised their target price on shares of Plug Power from $3.00 to $4.00 and gave the stock a “buy” rating in a research report on Friday, October 6th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $3.03.

Shares of Plug Power (PLUG) opened at $2.35 on Thursday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.29 and a quick ratio of 0.86. Plug Power has a 1-year low of $0.83 and a 1-year high of $3.21.

Plug Power (NASDAQ:PLUG) last released its quarterly earnings data on Wednesday, November 8th. The electronics maker reported ($0.04) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.04). Plug Power had a negative net margin of 96.27% and a negative return on equity of 83.93%. The company had revenue of $61.43 million for the quarter, compared to analysts’ expectations of $54.57 million. During the same quarter last year, the company earned $0.07 earnings per share. The firm’s revenue for the quarter was up 249.0% on a year-over-year basis. equities research analysts expect that Plug Power will post -0.51 earnings per share for the current year.

In other news, Director George C. Mcnamee acquired 200,000 shares of the stock in a transaction that occurred on Friday, September 15th. The shares were purchased at an average cost of $2.20 per share, for a total transaction of $440,000.00. Following the transaction, the director now directly owns 486,131 shares in the company, valued at approximately $1,069,488.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 4.90% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. KBC Group NV grew its position in Plug Power by 34.9% in the 3rd quarter. KBC Group NV now owns 162,549 shares of the electronics maker’s stock valued at $424,000 after buying an additional 42,024 shares during the last quarter. EAM Investors LLC grew its position in Plug Power by 83.0% in the 3rd quarter. EAM Investors LLC now owns 543,608 shares of the electronics maker’s stock valued at $1,419,000 after buying an additional 246,620 shares during the last quarter. Swiss National Bank grew its position in Plug Power by 14.9% in the 3rd quarter. Swiss National Bank now owns 373,700 shares of the electronics maker’s stock valued at $975,000 after buying an additional 48,500 shares during the last quarter. State Board of Administration of Florida Retirement System grew its position in Plug Power by 33.7% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 105,167 shares of the electronics maker’s stock valued at $274,000 after buying an additional 26,530 shares during the last quarter. Finally, NJ State Employees Deferred Compensation Plan purchased a new position in Plug Power in the 3rd quarter valued at $783,000. Hedge funds and other institutional investors own 24.43% of the company’s stock.

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About Plug Power

Plug Power Inc is a provider of alternative energy technology focused on the design, development, commercialization and manufacture of hydrogen fuel cell systems used for the industrial off-road market and the stationary power market. The Company’s product line includes GenKey, GenDrive, GenFuel, GenCare and ReliOn.

Analyst Recommendations for Plug Power (NASDAQ:PLUG)

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