HC Wainwright Reiterates Buy Rating for Plug Power (NASDAQ:PLUG)

Plug Power (NASDAQ:PLUG)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $18.00 price target on the electronics maker’s stock.

PLUG has been the topic of a number of other reports. Susquehanna lowered their target price on Plug Power from $3.00 to $2.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Wells Fargo & Company lowered their target price on Plug Power from $4.00 to $3.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. Piper Sandler lowered their target price on Plug Power from $2.50 to $2.40 and set an “underweight” rating on the stock in a report on Monday, July 22nd. Royal Bank of Canada lowered their target price on Plug Power from $3.50 to $2.50 and set a “sector perform” rating on the stock in a report on Monday, August 12th. Finally, Craig Hallum lowered their target price on Plug Power from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $4.52.

Plug Power Price Performance

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

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

Institutional Investors Weigh In On Plug Power

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Plug Power by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 54,986,479 shares of the electronics maker’s stock worth $189,153,000 after acquiring an additional 999,194 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Plug Power by 25.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,637,039 shares of the electronics maker’s stock valued at $15,000,000 after buying an additional 1,354,500 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Plug Power by 23.6% during the 3rd quarter. Van ECK Associates Corp now owns 4,232,001 shares of the electronics maker’s stock valued at $8,803,000 after buying an additional 809,187 shares during the last quarter. Vontobel Holding Ltd. lifted its holdings in shares of Plug Power by 44.3% during the 3rd quarter. Vontobel Holding Ltd. now owns 3,426,354 shares of the electronics maker’s stock valued at $7,744,000 after buying an additional 1,051,400 shares during the last quarter. Finally, Swedbank AB acquired a new stake in shares of Plug Power during the 1st quarter valued at about $10,687,000. 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.