Plug Power, Inc. (PLUG) Rating Reiterated by B. Riley
Plug Power, Inc. (NASDAQ:PLUG)‘s stock had its “buy” rating reissued by equities researchers at B. Riley in a research report issued to clients and investors on Thursday. They currently have a $3.50 price objective on the electronics maker’s stock. B. Riley’s target price would suggest a potential upside of 37.25% from the company’s previous close. B. Riley also issued estimates for Plug Power’s Q1 2018 earnings at ($0.07) EPS, Q2 2018 earnings at ($0.06) EPS and Q3 2018 earnings at ($0.04) EPS.
Several other equities analysts have also issued reports on the company. Zacks Investment Research raised Plug Power from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Roth Capital reissued a “sell” rating and set a $1.30 target price on shares of Plug Power in a research note on Sunday, July 23rd. FBR & Co reissued an “outperform” rating and set a $3.50 target price (up previously from $3.00) on shares of Plug Power in a research note on Tuesday, July 25th. Craig Hallum increased their target price on Plug Power from $3.00 to $4.00 and gave the stock a “buy” rating in a research note on Friday, October 6th. Finally, Cowen and Company reissued a “buy” rating and set a $3.00 target price on shares of Plug Power in a research note on Tuesday, October 17th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. Plug Power has an average rating of “Hold” and a consensus price target of $3.03.
Plug Power (PLUG) opened at $2.55 on Thursday. Plug Power has a 12 month low of $0.83 and a 12 month high of $3.21. The company has a quick ratio of 0.68, a current ratio of 1.29 and a debt-to-equity ratio of 0.62.
Plug Power (NASDAQ:PLUG) last posted its earnings results on Wednesday, November 8th. The electronics maker reported ($0.04) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.04). Plug Power had a negative return on equity of 83.93% and a negative net margin of 96.27%. The firm had revenue of $61.43 million for the quarter, compared to analyst estimates of $54.57 million. During the same quarter in the prior year, the company earned $0.07 EPS. Plug Power’s revenue was up 249.0% on a year-over-year basis. equities analysts predict that Plug Power will post -0.36 earnings per share for the current year.
In related news, Director George C. Mcnamee purchased 200,000 shares of Plug Power stock in a transaction on Friday, September 15th. The shares were bought at an average price of $2.20 per share, with a total value of $440,000.00. Following the transaction, the director now directly owns 486,131 shares of the company’s stock, valued at $1,069,488.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.90% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of PLUG. Nationwide Fund Advisors raised its position in Plug Power by 4.6% in the 1st quarter. Nationwide Fund Advisors now owns 117,225 shares of the electronics maker’s stock valued at $162,000 after purchasing an additional 5,127 shares in the last quarter. Bank of New York Mellon Corp raised its position in Plug Power by 14.1% in the 1st quarter. Bank of New York Mellon Corp now owns 783,035 shares of the electronics maker’s stock valued at $1,080,000 after purchasing an additional 96,793 shares in the last quarter. Parametric Portfolio Associates LLC acquired a new stake in Plug Power in the 1st quarter valued at about $649,000. American International Group Inc. raised its position in Plug Power by 7.5% in the 1st quarter. American International Group Inc. now owns 111,649 shares of the electronics maker’s stock valued at $154,000 after purchasing an additional 7,773 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Plug Power by 10.2% in the 1st quarter. Vanguard Group Inc. now owns 7,988,456 shares of the electronics maker’s stock valued at $11,024,000 after purchasing an additional 738,875 shares in the last quarter. 23.68% of the stock is currently owned by institutional investors.
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.
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