Plug Power (PLUG) Receives Buy Rating from B. Riley
Plug Power (NASDAQ:PLUG)‘s stock had its “buy” rating reissued by equities researchers at B. Riley in a report issued on Thursday. They currently have a $3.50 price target on the electronics maker’s stock. B. Riley’s price target suggests a potential upside of 49.57% from the company’s previous close.
PLUG has been the subject of several other reports. HC Wainwright reaffirmed a “buy” rating and set a $4.00 price target on shares of Plug Power in a research note on Thursday. ValuEngine cut shares of Plug Power from a “hold” rating to a “sell” rating in a research note on Monday. Canaccord Genuity assumed coverage on shares of Plug Power in a research note on Friday, December 1st. They set a “buy” rating and a $5.00 price target for the company. Zacks Investment Research cut shares of Plug Power from a “hold” rating to a “sell” rating in a research note on Tuesday, November 14th. Finally, FBR & Co reaffirmed a “buy” rating on shares of Plug Power in a research note on Tuesday, October 31st. Four analysts have rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company’s stock. Plug Power has a consensus rating of “Hold” and an average price target of $3.23.
Shares of Plug Power (NASDAQ PLUG) traded up $0.01 during midday trading on Thursday, reaching $2.34. 2,717,800 shares of the company traded hands, compared to its average volume of 7,198,553. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.86 and a current ratio of 1.29. 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 earnings results on Wednesday, November 8th. The electronics maker reported ($0.04) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.04). The company had revenue of $61.43 million for the quarter, compared to the consensus estimate of $54.57 million. Plug Power had a negative net margin of 96.27% and a negative return on equity of 83.93%. The company’s revenue was up 249.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.07 EPS. sell-side analysts forecast that Plug Power will post -0.51 earnings per share for the current fiscal year.
In related news, Director George C. Mcnamee acquired 200,000 shares of the business’s stock in a transaction dated Friday, September 15th. The stock was bought at an average price of $2.20 per share, with a total value of $440,000.00. Following the acquisition, the director now owns 486,131 shares in the company, valued at approximately $1,069,488.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 4.90% of the company’s stock.
A number of institutional investors have recently made changes to their positions in PLUG. Vanguard Group Inc. lifted its holdings in Plug Power by 10.2% during 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 during the last quarter. Geode Capital Management LLC lifted its holdings in Plug Power by 30.4% during the 1st quarter. Geode Capital Management LLC now owns 1,750,660 shares of the electronics maker’s stock valued at $2,415,000 after purchasing an additional 407,653 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in Plug Power by 51.8% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 768,662 shares of the electronics maker’s stock valued at $1,061,000 after purchasing an additional 262,147 shares during the last quarter. Creative Planning lifted its holdings in shares of Plug Power by 41.5% during the second quarter. Creative Planning now owns 70,472 shares of the electronics maker’s stock worth $144,000 after buying an additional 20,673 shares in the last quarter. Finally, Aperio Group LLC lifted its holdings in shares of Plug Power by 6.4% during the second quarter. Aperio Group LLC now owns 119,061 shares of the electronics maker’s stock worth $243,000 after buying an additional 7,166 shares in the last quarter. 24.43% of the stock is owned by institutional investors and hedge funds.
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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.
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