Plug Power’s (PLUG) “Buy” Rating Reiterated at HC Wainwright
“We are projecting the company to grow its topline at a seven-year CAGR of 22.1%, from $184.4M in 2018 to $746.7M in 2025. We believe that the company should be able to grow its gross margins from 17.0% in 4Q18 to over 35.0% in 2023 as revenues rise. We expect PLUG’s operating expenses to grow modestly at a seven-year CAGR of 3.1%, from $71.8M in 2018 to $89.0M in 2025. We expect the company to realize breakeven adjusted EBITDAS during the second half of 2019. We continue to believe that the company will generate net profits during 2020 and beyond.”,” the firm’s analyst commented.
A number of other brokerages have also weighed in on PLUG. Zacks Investment Research lowered shares of Plug Power from a buy rating to a hold rating in a report on Friday, November 16th. ValuEngine raised shares of Plug Power from a hold rating to a buy rating in a report on Tuesday, October 16th. Cowen set a $3.00 price objective on shares of Plug Power and gave the company a buy rating in a report on Tuesday, October 16th. Finally, BidaskClub lowered shares of Plug Power from a hold rating to a sell rating in a report on Wednesday, December 5th. Two equities research analysts have rated the stock with a sell rating and seven have given a buy rating to the stock. The company has an average rating of Buy and a consensus target price of $3.18.
Plug Power (NASDAQ:PLUG) last released its quarterly earnings results on Thursday, November 8th. The electronics maker reported ($0.07) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.01. Plug Power had a negative net margin of 52.31% and a negative return on equity of 170.62%. The business had revenue of $55.30 million for the quarter, compared to analyst estimates of $50.44 million. During the same period in the previous year, the company earned ($0.06) earnings per share. The business’s revenue for the quarter was down 10.0% on a year-over-year basis. Sell-side analysts anticipate that Plug Power will post -0.32 EPS for the current year.
Large investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Plug Power in the third quarter valued at $121,000. Metropolitan Life Insurance Co. NY boosted its holdings in 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 last quarter. Alps Advisors Inc. boosted its holdings in Plug Power by 387.8% in the third quarter. Alps Advisors Inc. now owns 90,509 shares of the electronics maker’s stock valued at $174,000 after purchasing an additional 71,955 shares during the last quarter. Global X Management Co LLC purchased a new stake in Plug Power in the second quarter valued at $266,000. Finally, Nomura Holdings Inc. boosted its holdings in Plug Power by 67.2% in the second quarter. Nomura Holdings Inc. now owns 369,608 shares of the electronics maker’s stock valued at $747,000 after purchasing an additional 148,511 shares during the last quarter. 27.03% of the stock is currently owned by 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.
See Also: What are retained earnings?
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.