HC Wainwright Reiterates “Buy” Rating for Plug Power, Inc. (PLUG)
Plug Power, Inc. (NASDAQ:PLUG)‘s stock had its “buy” rating restated by HC Wainwright in a research report issued on Monday. They presently have a $4.00 price objective on the electronics maker’s stock. HC Wainwright’s target price would indicate a potential upside of 68.78% from the stock’s previous close.
Several other equities analysts also recently issued reports on the stock. Cowen and Company set a $3.00 price objective on shares of Plug Power and gave the company a “buy” rating in a research note on Thursday, April 6th. Roth Capital downgraded shares of Plug Power from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $2.25 to $1.30 in a research note on Wednesday, May 17th. ValuEngine downgraded shares of Plug Power from a “hold” rating to a “sell” rating in a research note on Thursday, May 18th. Rodman & Renshaw upped their target price on shares of Plug Power from $3.00 to $4.00 and gave the company a “buy” rating in a report on Thursday, April 6th. Finally, FBR & Co set a $3.00 target price on shares of Plug Power and gave the company an “outperform” rating in a report on Wednesday, May 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $2.80.
Plug Power (PLUG) traded down 2.87% during trading on Monday, hitting $2.37. The company’s stock had a trading volume of 8,743,148 shares. The firm’s market cap is $529.58 million. Plug Power has a one year low of $0.83 and a one year high of $2.70. The company has a 50-day moving average of $2.08 and a 200 day moving average of $1.67.
Plug Power (NASDAQ:PLUG) last released its quarterly earnings data on Tuesday, May 9th. The electronics maker reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by $0.06. Plug Power had a negative net margin of 81.41% and a negative return on equity of 68.47%. The company had revenue of $15.20 million during the quarter, compared to analyst estimates of $24.90 million. During the same quarter in the prior year, the company earned ($0.05) EPS. The business’s revenue was down .7% on a year-over-year basis. On average, equities analysts forecast that Plug Power will post ($0.25) earnings per share for the current year.
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Large investors have recently made changes to their positions in the stock. Private Advisor Group LLC boosted its stake in shares of Plug Power by 160.9% in the first quarter. Private Advisor Group LLC now owns 51,318 shares of the electronics maker’s stock worth $115,000 after buying an additional 31,646 shares during the last quarter. Hudson Bay Capital Management LP acquired a new stake in shares of Plug Power during the fourth quarter worth approximately $12,264,000. Aperio Group LLC boosted its stake in shares of Plug Power by 15.3% in the third quarter. Aperio Group LLC now owns 103,905 shares of the electronics maker’s stock worth $178,000 after buying an additional 13,765 shares during the last quarter. IFC Holdings Incorporated FL boosted its stake in shares of Plug Power by 167.1% in the second quarter. IFC Holdings Incorporated FL now owns 101,506 shares of the electronics maker’s stock worth $192,000 after buying an additional 63,506 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Plug Power by 7.2% in the fourth quarter. State Street Corp now owns 2,984,022 shares of the electronics maker’s stock worth $3,578,000 after buying an additional 199,300 shares during the last quarter. 17.61% of the stock is owned by institutional investors and hedge funds.
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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