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

Plug Power (NASDAQ:PLUG) has been given a $4.00 price objective by equities researchers at HC Wainwright in a research report issued on Friday. The firm presently has a “buy” rating on the electronics maker’s stock. HC Wainwright’s price target indicates a potential upside of 109.42% from the stock’s current price.

PLUG has been the subject of a number of other reports. Zacks Investment Research raised shares of Plug Power from a “sell” rating to a “hold” rating in a research note on Thursday, April 12th. BidaskClub raised shares of Plug Power from a “sell” rating to a “hold” rating in a research note on Thursday, May 3rd. B. Riley set a $4.00 price objective on shares of Plug Power and gave the stock a “buy” rating in a research note on Thursday, May 10th. Finally, ValuEngine raised shares of Plug Power from a “sell” rating to a “hold” rating in a research note on Saturday, June 2nd. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $3.67.

Plug Power stock remained flat at $$1.91 during mid-day trading on Friday. 3,089,396 shares of the company’s stock were exchanged, compared to its average volume of 2,271,407. Plug Power has a 12 month low of $1.53 and a 12 month high of $3.21. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.28 and a quick ratio of 0.87.

Plug Power (NASDAQ:PLUG) last issued its earnings results on Thursday, August 9th. The electronics maker reported ($0.12) earnings per share (EPS) 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 analysts’ expectations of $40.52 million. During the same period last year, the business posted ($0.10) earnings per share. The company’s quarterly revenue was up 76.7% on a year-over-year basis. sell-side analysts predict that Plug Power will post -0.19 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Plug Power by 0.9% during the 2nd quarter. BlackRock Inc. now owns 14,625,123 shares of the electronics maker’s stock worth $29,543,000 after purchasing an additional 125,482 shares in the last quarter. LPL Financial LLC purchased a new position in shares of Plug Power during the 1st quarter worth approximately $270,000. MetLife Investment Advisors LLC increased its stake in shares of Plug Power by 100.0% during the 1st quarter. MetLife Investment Advisors LLC now owns 107,957 shares of the electronics maker’s stock worth $204,000 after purchasing an additional 53,968 shares in the last quarter. UBS Group AG increased its stake in shares of Plug Power by 122.6% during the 1st quarter. UBS Group AG now owns 150,221 shares of the electronics maker’s stock worth $284,000 after purchasing an additional 82,741 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of 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 in the last quarter. 29.44% of the stock is owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for Plug Power (NASDAQ:PLUG)

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