Plug Power (NASDAQ:PLUG) has been assigned a $3.50 target price by equities research analysts at B. Riley in a research note issued to investors on Thursday, TipRanks reports. The firm presently has a “buy” rating on the electronics maker’s stock. B. Riley’s target price indicates a potential upside of 33.08% from the stock’s current price.
Several other research firms have also issued reports on PLUG. Zacks Investment Research upgraded Plug Power from a “hold” rating to a “buy” rating and set a $3.00 target price on the stock in a research note on Wednesday, September 18th. HC Wainwright set a $4.00 target price on Plug Power and gave the company a “buy” rating in a research note on Wednesday, September 18th. BidaskClub lowered Plug Power from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Cowen set a $3.00 target price on Plug Power and gave the company a “buy” rating in a research note on Tuesday, September 17th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $2.96.
PLUG traded up $0.04 on Thursday, hitting $2.63. The company had a trading volume of 2,531,413 shares, compared to its average volume of 4,060,092. The stock has a fifty day moving average price of $2.33 and a 200-day moving average price of $2.39. Plug Power has a 12-month low of $0.99 and a 12-month high of $2.94. The company has a debt-to-equity ratio of 66.88, a quick ratio of 0.78 and a current ratio of 1.49. The stock has a market capitalization of $667.70 million, a price-to-earnings ratio of -7.31 and a beta of 1.47.
Plug Power (NASDAQ:PLUG) last posted its earnings results on Tuesday, August 6th. The electronics maker reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.02. Plug Power had a negative return on equity of 6,435.09% and a negative net margin of 44.51%. The company had revenue of $57.07 million for the quarter, compared to analyst estimates of $52.47 million. During the same quarter in the previous year, the firm earned ($0.08) earnings per share. The firm’s quarterly revenue was up 62.0% compared to the same quarter last year. Analysts forecast that Plug Power will post -0.36 EPS for the current fiscal year.
Several hedge funds have recently modified their holdings of the company. Nomura Holdings Inc. purchased a new stake in shares of Plug Power during the second quarter worth about $536,000. Nuveen Asset Management LLC purchased a new stake in shares of Plug Power during the second quarter worth about $2,800,000. Balyasny Asset Management LLC purchased a new stake in shares of Plug Power during the second quarter worth about $504,000. Invesco Ltd. grew its stake in shares of Plug Power by 56.6% during the second quarter. Invesco Ltd. now owns 2,316,548 shares of the electronics maker’s stock worth $5,212,000 after acquiring an additional 836,970 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Plug Power by 8.1% during the second quarter. Vanguard Group Inc. now owns 12,247,704 shares of the electronics maker’s stock worth $27,557,000 after acquiring an additional 922,937 shares during the last quarter. Institutional investors and hedge funds own 32.15% of the company’s stock.
Plug Power Company Profile
Plug Power Inc, an alternative energy technology provider, engages in the design, development, manufacture, and commercialization 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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