Brokerages Set Plug Power Inc (PLUG) PT at $3.57

Shares of Plug Power Inc (NASDAQ:PLUG) have been given a consensus recommendation of “Buy” by the eleven brokerages that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $3.57.

A number of equities research analysts have recently issued reports on PLUG shares. ValuEngine lowered shares of Plug Power from a “hold” rating to a “sell” rating in a report on Wednesday, July 4th. Zacks Investment Research lowered shares of Plug Power from a “hold” rating to a “sell” rating in a report on Wednesday, July 18th. BidaskClub lowered shares of Plug Power from a “buy” rating to a “hold” rating in a report on Saturday, July 28th. HC Wainwright set a $4.00 price objective on shares of Plug Power and gave the company a “buy” rating in a report on Friday, August 10th. Finally, B. Riley set a $4.00 price objective on shares of Plug Power and gave the company a “buy” rating in a report on Tuesday, May 29th.

In related news, Director Gregory B. Graves sold 31,343 shares of the company’s stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $1.73, for a total value of $54,223.39. Following the completion of the sale, the director now owns 43,296 shares of the company’s stock, valued at $74,902.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.10% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Metropolitan Life Insurance Co. NY grew its holdings in shares of Plug Power by 183.4% in the second quarter. Metropolitan Life Insurance Co. NY now owns 73,495 shares of the electronics maker’s stock valued at $148,000 after purchasing an additional 47,559 shares during the period. MetLife Investment Advisors LLC lifted its position in Plug Power by 100.0% in the first quarter. MetLife Investment Advisors LLC now owns 107,957 shares of the electronics maker’s stock valued at $204,000 after buying an additional 53,968 shares during the last quarter. Global X Management Co LLC acquired a new position in Plug Power in the second quarter valued at about $266,000. LPL Financial LLC acquired a new position in Plug Power in the first quarter valued at about $270,000. Finally, UBS Group AG lifted its position in Plug Power by 122.6% in the first quarter. UBS Group AG now owns 150,221 shares of the electronics maker’s stock valued at $284,000 after buying an additional 82,741 shares during the last quarter. 30.46% of the stock is owned by hedge funds and other institutional investors.

Shares of Plug Power stock traded down $0.05 during trading hours on Wednesday, reaching $1.92. 2,179,000 shares of the company’s stock were exchanged, compared to its average volume of 3,348,650. Plug Power has a 1 year low of $1.53 and a 1 year high of $3.21. The firm has a market capitalization of $403.82 million, a price-to-earnings ratio of -3.18 and a beta of 1.22. The company has a quick ratio of 0.69, a current ratio of 1.07 and a debt-to-equity ratio of 4.16.

Plug Power (NASDAQ:PLUG) last released 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 return on equity of 108.78% and a negative net margin of 66.16%. The business had revenue of $39.93 million for the quarter, compared to analysts’ expectations of $40.52 million. During the same period in the previous year, the company earned ($0.10) EPS. Plug Power’s quarterly revenue was up 76.7% compared to the same quarter last year. research analysts anticipate that Plug Power will post -0.19 EPS for the current fiscal year.

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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