Plug Power’s (PLUG) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright restated their buy rating on shares of Plug Power (NASDAQ:PLUG) in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a $18.00 target price on the electronics maker’s stock.

Several other equities research analysts have also recently commented on the stock. Craig Hallum cut their price target on shares of Plug Power from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Jefferies Financial Group reduced their price target on Plug Power from $2.20 to $2.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Wells Fargo & Company lowered their price target on Plug Power from $4.00 to $3.00 and set an “equal weight” rating on the stock in a research report on Friday, August 9th. Piper Sandler cut their price objective on Plug Power from $2.50 to $2.40 and set an “underweight” rating for the company in a report on Monday, July 22nd. Finally, Truist Financial lowered their target price on shares of Plug Power from $3.00 to $2.00 and set a “hold” rating on the stock in a report on Monday, August 12th. Four analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Plug Power has an average rating of “Hold” and a consensus price target of $4.75.

Plug Power Stock Performance

Shares of Plug Power stock opened at $1.97 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.07 and a quick ratio of 0.91. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of -0.92 and a beta of 1.81. Plug Power has a one year low of $1.60 and a one year high of $5.14. The stock’s 50-day moving average is $2.06 and its 200-day moving average is $2.41.

Plug Power (NASDAQ:PLUG) last released its quarterly earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). Plug Power had a negative return on equity of 47.36% and a negative net margin of 214.05%. The firm had revenue of $173.70 million for the quarter, compared to analyst estimates of $207.25 million. During the same period last year, the company earned ($0.47) EPS. The company’s revenue was down 12.6% compared to the same quarter last year. Equities analysts predict that Plug Power will post -1.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Plug Power

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. HBK Sorce Advisory LLC bought a new stake in Plug Power during the first quarter worth about $37,000. Nations Financial Group Inc. IA ADV bought a new stake in shares of Plug Power during the 2nd quarter worth approximately $26,000. SteelPeak Wealth LLC acquired a new stake in shares of Plug Power during the 2nd quarter worth approximately $26,000. Aire Advisors LLC bought a new position in Plug Power in the second quarter valued at approximately $28,000. Finally, Madison Park Capital Advisors LLC acquired a new position in Plug Power during the second quarter valued at approximately $29,000. 43.48% of the stock is currently owned by institutional investors and hedge funds.

Plug Power Company Profile

Plug Power Inc develops hydrogen and fuel cell product solutions in North America, Europe, Asia, and internationally. The company offers GenDrive, a hydrogen-fueled proton exchange membrane (PEM) fuel cell system that provides power to material handling electric vehicles; GenSure, a stationary fuel cell solution that offers modular PEM fuel cell power to support the backup and grid-support power requirements of the telecommunications, transportation, and utility sectors; ProGen, a fuel cell stack and engine technology used in mobility and stationary fuel cell systems, and as engines in electric delivery vans; GenFuel, a liquid hydrogen fueling delivery, generation, storage, and dispensing system; GenCare, an ongoing Internet of Things-based maintenance and on-site service program for GenDrive fuel cell systems, GenSure fuel cell systems, GenFuel hydrogen storage and dispensing products, and ProGen fuel cell engines; and GenKey, an integrated turn-key solution for transitioning to fuel cell power.