Plug Power’s (PLUG) “Buy” Rating Reiterated at FBR & Co
Plug Power, Inc. (NASDAQ:PLUG)‘s stock had its “buy” rating reaffirmed by FBR & Co in a note issued to investors on Tuesday.
Several other research firms have also commented on PLUG. Cowen and Company set a $3.00 price target on Plug Power and gave the stock a “buy” rating in a research report on Monday, July 10th. BidaskClub lowered Plug Power from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Zacks Investment Research raised Plug Power from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Rodman & Renshaw reissued a “buy” rating and issued a $4.00 price target on shares of Plug Power in a research report on Monday, July 24th. Finally, Craig Hallum boosted their price target on Plug Power from $3.00 to $4.00 and gave the stock a “buy” rating in a research report on Friday, October 6th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. Plug Power presently has an average rating of “Hold” and an average price target of $2.98.
Plug Power (PLUG) traded up 3.846% during midday trading on Tuesday, hitting $2.835. The stock had a trading volume of 6,632,930 shares. The company’s 50 day moving average price is $2.63 and its 200-day moving average price is $2.26. Plug Power has a 52-week low of $0.83 and a 52-week high of $3.07. The stock’s market cap is $637.11 million.
Plug Power (NASDAQ:PLUG) last issued its earnings results on Tuesday, August 8th. The electronics maker reported ($0.10) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.03). The firm had revenue of $22.60 million for the quarter, compared to the consensus estimate of $28.58 million. Plug Power had a negative net margin of 112.95% and a negative return on equity of 86.35%. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period last year, the firm earned ($0.04) earnings per share. Analysts forecast that Plug Power will post ($0.39) EPS for the current fiscal year.
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In related news, Director George C. Mcnamee purchased 200,000 shares of Plug Power stock in a transaction dated Friday, September 15th. The stock was purchased at an average cost of $2.20 per share, with a total value of $440,000.00. Following the transaction, 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 SEC, which is available through the SEC website. Insiders own 4.90% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in PLUG. Archford Capital Strategies LLC grew its stake in Plug Power by 20,422.2% during the 2nd quarter. Archford Capital Strategies LLC now owns 1,847 shares of the electronics maker’s stock worth $115,000 after buying an additional 1,838 shares during the last quarter. Nationwide Fund Advisors grew its stake in Plug Power by 4.6% during the 1st quarter. Nationwide Fund Advisors now owns 117,225 shares of the electronics maker’s stock worth $162,000 after buying an additional 5,127 shares during the last quarter. Aperio Group LLC grew its stake in Plug Power by 6.4% during the 2nd 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 during the last quarter. American International Group Inc. grew its stake in Plug Power by 7.5% during the 1st quarter. American International Group Inc. now owns 111,649 shares of the electronics maker’s stock worth $154,000 after buying an additional 7,773 shares during the last quarter. Finally, California State Teachers Retirement System grew its stake in Plug Power by 5.1% during the 2nd quarter. California State Teachers Retirement System now owns 395,969 shares of the electronics maker’s stock worth $808,000 after buying an additional 19,300 shares during the last quarter. 23.48% of the stock is owned by hedge funds and other 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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