Plug Power’s (PLUG) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Plug Power (NASDAQ:PLUG) in a research note published on Tuesday, Marketbeat Ratings reports. They currently have a $7.00 price objective on the electronics maker’s stock.

A number of other research analysts also recently weighed in on the company. UBS Group reissued a “buy” rating and issued a $5.00 price objective on shares of Plug Power in a research note on Tuesday, August 11th. Wall Street Zen cut Plug Power from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. Susquehanna lowered their price target on Plug Power from $3.75 to $2.50 and set a “neutral” rating on the stock in a report on Friday, July 10th. Oppenheimer reissued a “market perform” rating on shares of Plug Power in a research report on Tuesday, August 11th. Finally, Craig Hallum restated a “buy” rating on shares of Plug Power in a research note on Tuesday, August 11th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $3.59.

Plug Power Trading Down 2.6%

Shares of NASDAQ:PLUG opened at $1.89 on Tuesday. The company has a current ratio of 2.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.29. The stock has a market capitalization of $2.64 billion, a PE ratio of -1.50 and a beta of 2.28. Plug Power has a 1 year low of $1.70 and a 1 year high of $4.58. The firm has a fifty day moving average price of $2.12 and a 200 day moving average price of $2.61.

Plug Power (NASDAQ:PLUG) last posted its earnings results on Monday, August 10th. The electronics maker reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.01. The company had revenue of $178.30 million for the quarter, compared to analyst estimates of $169.11 million. Plug Power had a negative return on equity of 56.01% and a negative net margin of 220.59%.Plug Power’s revenue for the quarter was up 2.5% on a year-over-year basis. Analysts expect that Plug Power will post -0.26 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Benjamin Haycraft sold 200,000 shares of Plug Power stock in a transaction dated Friday, September 18th. The stock was sold at an average price of $2.14, for a total transaction of $428,000.00. Following the sale, the insider directly owned 101,249 shares of the company’s stock, valued at $216,672.86. This trade represents a 66.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 232,560 shares of company stock worth $496,178 over the last 90 days. 1.37% of the stock is owned by company insiders.

Institutional Trading of Plug Power

A number of hedge funds have recently modified their holdings of PLUG. Ameritas Advisory Services LLC bought a new position in shares of Plug Power in the second quarter worth about $25,000. DUTCH ASSET Corp acquired a new stake in shares of Plug Power in the fourth quarter valued at approximately $29,000. Greenleaf Trust acquired a new stake in shares of Plug Power in the second quarter valued at approximately $29,000. Sustainable Insight Capital Management LLC bought a new position in Plug Power in the 4th quarter worth approximately $31,000. Finally, PNC Financial Services Group Inc. raised its position in Plug Power by 75.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 16,733 shares of the electronics maker’s stock worth $38,000 after purchasing an additional 7,191 shares during the last quarter. Institutional investors own 43.48% of the company’s stock.

Plug Power Company Profile

Plug Power Inc is a clean-energy technology company that develops and supplies hydrogen and fuel-cell solutions. Its products include fuel-cell systems and engines for material-handling equipment, backup and stationary power, and other commercial and industrial applications. The company also provides electrolyzers for producing hydrogen, along with hydrogen generation, liquefaction, storage, and delivery services.

Plug Power serves customers in material handling, transportation, power generation, and industrial markets.