Plug Power (PLUG) Given a $4.00 Price Target at HC Wainwright

Share on StockTwits

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

Several other analysts also recently weighed in on PLUG. BidaskClub raised Plug Power from a hold rating to a buy rating in a report on Saturday, July 14th. ValuEngine raised Plug Power from a hold rating to a buy rating in a report on Wednesday, July 18th. Zacks Investment Research downgraded Plug Power from a hold rating to a sell rating in a report on Wednesday, July 18th. B. Riley set a $4.00 target price on Plug Power and gave the company a buy rating in a report on Friday, August 10th. Finally, Oppenheimer started coverage on Plug Power in a report on Thursday, August 23rd. They issued an outperform rating and a $2.50 target price for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $3.29.

Shares of Plug Power stock traded down $0.07 on Friday, hitting $1.87. The stock had a trading volume of 2,939,216 shares, compared to its average volume of 2,178,950. Plug Power has a 52-week low of $1.53 and a 52-week high of $2.62. The company has a debt-to-equity ratio of 4.16, a current ratio of 1.07 and a quick ratio of 0.69.

Plug Power (NASDAQ:PLUG) last posted its earnings results on Thursday, November 8th. The electronics maker reported ($0.07) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.01. Plug Power had a negative return on equity of 108.78% and a negative net margin of 66.16%. The business had revenue of $55.30 million during the quarter, compared to the consensus estimate of $50.44 million. During the same period in the previous year, the business earned ($0.06) EPS. The business’s quarterly revenue was down 10.0% on a year-over-year basis. On average, research analysts anticipate that Plug Power will post -0.35 earnings per share for the current fiscal year.

In other Plug Power news, Director Gregory B. Graves sold 31,343 shares of the company’s stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $1.73, for a total transaction of $54,223.39. Following the completion of the sale, the director now directly owns 43,296 shares of the company’s stock, valued at approximately $74,902.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Gerard L. Conway, Jr. sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, October 15th. The shares were sold at an average price of $1.86, for a total value of $186,000.00. Following the sale, the insider now directly owns 110,519 shares of the company’s stock, valued at $205,565.34. The disclosure for this sale can be found here. 5.10% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. raised its stake in Plug Power by 0.8% during the 3rd quarter. BlackRock Inc. now owns 14,741,256 shares of the electronics maker’s stock valued at $28,301,000 after acquiring an additional 116,133 shares during the last quarter. Odey Asset Management Group Ltd increased its position in Plug Power by 90.3% during the 2nd quarter. Odey Asset Management Group Ltd now owns 4,910,000 shares of the electronics maker’s stock worth $9,918,000 after purchasing an additional 2,330,000 shares during the period. State of New Jersey Common Pension Fund D increased its position in Plug Power by 2.2% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 4,600,000 shares of the electronics maker’s stock worth $8,832,000 after purchasing an additional 100,000 shares during the period. Northern Trust Corp increased its position in Plug Power by 1.3% during the 1st quarter. Northern Trust Corp now owns 2,649,873 shares of the electronics maker’s stock worth $5,008,000 after purchasing an additional 33,445 shares during the period. Finally, Nomura Holdings Inc. increased its position in Plug Power by 67.2% during the 2nd quarter. Nomura Holdings Inc. now owns 369,608 shares of the electronics maker’s stock worth $747,000 after purchasing an additional 148,511 shares during the period. 30.51% of the stock is owned by hedge funds and other institutional investors.

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.

Read More: Swap

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