Plug Power (NASDAQ:PLUG)‘s stock had its “buy” rating restated by stock analysts at B. Riley in a research report issued on Thursday, Stock Target Advisor reports. They presently have a $3.50 price target on the electronics maker’s stock. B. Riley’s price target indicates a potential upside of 59.09% from the company’s current price.
PLUG has been the subject of a number of other research reports. ValuEngine upgraded shares of Plug Power from a “hold” rating to a “buy” rating in a research report on Friday, November 16th. Zacks Investment Research upgraded shares of Plug Power from a “hold” rating to a “buy” rating and set a $1.50 target price for the company in a research report on Wednesday, December 19th. BidaskClub cut shares of Plug Power from a “sell” rating to a “strong sell” rating in a research report on Friday, February 8th. Finally, Roth Capital upgraded shares of Plug Power from a “sell” rating to a “neutral” rating and set a $1.30 target price for the company in a research report on Wednesday, January 30th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $2.58.
Shares of Plug Power stock opened at $2.20 on Thursday. The stock has a market cap of $555.47 million, a P/E ratio of -6.11 and a beta of 1.72. The company has a quick ratio of 0.60, a current ratio of 1.06 and a debt-to-equity ratio of 10.93. Plug Power has a 12-month low of $0.99 and a 12-month high of $2.65.
Plug Power (NASDAQ:PLUG) last announced its earnings results on Thursday, March 7th. The electronics maker reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03). The firm had revenue of $59.80 million for the quarter, compared to analyst estimates of $58.40 million. Plug Power had a negative return on equity of 224.02% and a negative net margin of 42.87%. The company’s revenue for the quarter was up 77.4% compared to the same quarter last year. During the same quarter last year, the business earned ($0.08) EPS. As a group, equities research analysts forecast that Plug Power will post -0.23 EPS for the current fiscal year.
In related news, CEO Andrew Marsh acquired 12,286 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were purchased at an average price of $2.44 per share, with a total value of $29,977.84. Following the acquisition, the chief executive officer now directly owns 465,145 shares in the company, valued at $1,134,953.80. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 5.10% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of PLUG. Amalgamated Bank grew its holdings in Plug Power by 154.8% during the 4th quarter. Amalgamated Bank now owns 32,671 shares of the electronics maker’s stock worth $41,000 after acquiring an additional 19,851 shares during the last quarter. Legal & General Group Plc grew its holdings in Plug Power by 27.4% during the 4th quarter. Legal & General Group Plc now owns 39,763 shares of the electronics maker’s stock worth $50,000 after acquiring an additional 8,556 shares during the last quarter. Advisor Group Inc. grew its holdings in Plug Power by 38.0% during the 4th quarter. Advisor Group Inc. now owns 53,000 shares of the electronics maker’s stock worth $66,000 after acquiring an additional 14,590 shares during the last quarter. Metropolitan Life Insurance Co. NY grew its holdings in Plug Power by 343.2% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 73,495 shares of the electronics maker’s stock worth $91,000 after acquiring an additional 56,912 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Plug Power during the 3rd quarter worth about $121,000. 26.86% of the stock is currently owned by hedge funds and other institutional investors.
About Plug Power
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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