Plug Power (PLUG) PT Set at $4.00 by HC Wainwright

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HC Wainwright set a $4.00 price target on Plug Power (NASDAQ:PLUG) in a research report sent to investors on Tuesday. The firm currently has a buy rating on the electronics maker’s stock.

A number of other equities research analysts also recently weighed in on the company. Zacks Investment Research upgraded Plug Power from a hold rating to a buy rating and set a $2.00 target price for the company in a research report on Tuesday. BidaskClub upgraded Plug Power from a strong sell rating to a sell rating in a research report on Tuesday. ValuEngine upgraded Plug Power from a hold rating to a buy rating in a research report on Tuesday. CIBC began coverage on Plug Power in a research report on Thursday, August 23rd. They set an outperform rating and a $2.50 target price for the company. Finally, Oppenheimer began coverage on Plug Power in a research report on Thursday, August 23rd. They set an outperform rating and a $2.50 target price for the company. One research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. The company currently has an average rating of Buy and an average price target of $3.29.

PLUG stock opened at $1.94 on Tuesday. The firm has a market cap of $410.26 million, a PE ratio of -3.23 and a beta of 1.08. Plug Power has a twelve month low of $1.53 and a twelve month high of $3.21. The company has a quick ratio of 0.69, a current ratio of 1.07 and a debt-to-equity ratio of 4.16.

Plug Power (NASDAQ:PLUG) last released its earnings results on Thursday, August 9th. The electronics maker reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). The firm had revenue of $39.93 million for the quarter, compared to the consensus estimate of $40.52 million. Plug Power had a negative return on equity of 108.78% and a negative net margin of 66.16%. The company’s revenue was up 76.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.10) EPS. On average, equities research analysts predict that Plug Power will post -0.35 earnings per share for the current fiscal year.

In related news, Director Gregory B. Graves sold 31,343 shares of the company’s stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $1.73, for a total value of $54,223.39. Following the completion of the sale, the director now owns 43,296 shares in the company, valued at $74,902.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gerard L. Conway, Jr. sold 100,000 shares of the company’s stock in a transaction dated Monday, October 15th. The shares were sold at an average price of $1.86, for a total value of $186,000.00. Following the completion of the sale, the insider now owns 110,519 shares of the company’s stock, valued at approximately $205,565.34. The disclosure for this sale can be found here. Corporate insiders own 5.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PLUG. Metropolitan Life Insurance Co. NY increased 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. MetLife Investment Advisors LLC increased its holdings in Plug Power by 100.0% in the first quarter. MetLife Investment Advisors LLC now owns 107,957 shares of the electronics maker’s stock valued at $204,000 after purchasing an additional 53,968 shares during the last quarter. Global X Management Co LLC bought a new stake in Plug Power in the second quarter valued at about $266,000. LPL Financial LLC bought a new stake in Plug Power in the first quarter valued at about $270,000. Finally, UBS Group AG increased its holdings in Plug Power by 122.6% in the first quarter. UBS Group AG now owns 150,221 shares of the electronics maker’s stock valued at $284,000 after purchasing an additional 82,741 shares during the last quarter. Institutional investors and hedge funds own 30.40% of the company’s stock.

Plug Power Company Profile

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.

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