Plug Power (NASDAQ:PLUG) Earns Buy Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Plug Power (NASDAQ:PLUG - Free Report) in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has a $18.00 price target on the electronics maker's stock.

PLUG has been the topic of a number of other research reports. Truist Financial dropped their price objective on Plug Power from $3.00 to $2.00 and set a "hold" rating on the stock in a research note on Monday, August 12th. Royal Bank of Canada dropped their price objective on Plug Power from $3.50 to $2.50 and set a "sector perform" rating on the stock in a research note on Monday, August 12th. Susquehanna dropped their price target on Plug Power from $3.00 to $2.00 and set a "neutral" rating on the stock in a research note on Monday, August 12th. Wells Fargo & Company dropped their price target on Plug Power from $4.00 to $3.00 and set an "equal weight" rating on the stock in a research note on Friday, August 9th. Finally, Craig Hallum lowered their price objective on Plug Power from $5.00 to $4.00 and set a "buy" rating on the stock in a research report on Friday, August 9th. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $4.75.

Plug Power Stock Up 3.1 %

Shares of PLUG stock traded up $0.06 on Wednesday, hitting $1.97. The stock had a trading volume of 63,652,234 shares, compared to its average volume of 40,903,504. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of -0.95 and a beta of 1.81. Plug Power has a 52-week low of $1.60 and a 52-week high of $5.14. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.91 and a current ratio of 2.07. The stock's 50 day moving average is $2.06 and its 200-day moving average is $2.41.

Plug Power (NASDAQ:PLUG - Get Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.01). Plug Power had a negative net margin of 214.05% and a negative return on equity of 47.36%. The business had revenue of $173.70 million during the quarter, compared to analyst estimates of $207.25 million. During the same quarter in the prior year, the firm posted ($0.47) earnings per share. Plug Power's revenue for the quarter was down 12.6% compared to the same quarter last year. As a group, research analysts expect that Plug Power will post -1.16 earnings per share for the current year.

Institutional Trading of Plug Power

Several large investors have recently bought and sold shares of PLUG. Empowered Funds LLC acquired a new stake in Plug Power in the first quarter valued at about $48,000. Swiss National Bank boosted its stake in Plug Power by 0.8% in the first quarter. Swiss National Bank now owns 1,075,988 shares of the electronics maker's stock valued at $3,701,000 after buying an additional 8,300 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Plug Power in the first quarter valued at about $154,000. State Board of Administration of Florida Retirement System boosted its stake in shares of Plug Power by 5.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 600,188 shares of the electronics maker's stock valued at $2,065,000 after purchasing an additional 33,311 shares in the last quarter. Finally, HBK Sorce Advisory LLC acquired a new stake in shares of Plug Power during the first quarter valued at about $37,000. 43.48% of the stock is owned by institutional investors and hedge funds.

About Plug Power

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.