Plug Power (PLUG) Given a $4.00 Price Target by B. Riley Analysts

B. Riley set a $4.00 target price on Plug Power (NASDAQ:PLUG) in a research report report published on Tuesday. The firm currently has a buy rating on the electronics maker’s stock.

Other equities research analysts have also recently issued research reports about the company. HC Wainwright set a $4.00 target price on Plug Power and gave the stock a buy rating in a research note on Thursday, March 8th. Canaccord Genuity set a $5.00 target price on Plug Power and gave the stock a buy rating in a research note on Wednesday, March 7th. Zacks Investment Research upgraded Plug Power from a hold rating to a buy rating and set a $2.00 target price for the company in a research note on Wednesday, May 9th. BidaskClub upgraded Plug Power from a sell rating to a hold rating in a research note on Thursday, May 3rd. Finally, ValuEngine upgraded Plug Power from a strong sell rating to a sell rating in a research note on Tuesday, March 13th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $3.42.

PLUG stock opened at $1.87 on Tuesday. The company has a market cap of $417.83 million, a P/E ratio of -3.12 and a beta of 1.57. Plug Power has a fifty-two week low of $1.53 and a fifty-two week high of $3.21. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.28 and a quick ratio of 0.87.

Plug Power (NASDAQ:PLUG) last posted its earnings results on Wednesday, May 9th. The electronics maker reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.01). The business had revenue of $27.20 million for the quarter, compared to analysts’ expectations of $23.22 million. Plug Power had a negative return on equity of 87.73% and a negative net margin of 85.89%. Plug Power’s revenue for the quarter was up 78.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.13) EPS. sell-side analysts anticipate that Plug Power will post -0.12 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. increased its position in Plug Power by 1.0% during the first quarter. BlackRock Inc. now owns 14,499,641 shares of the electronics maker’s stock worth $27,404,000 after buying an additional 142,606 shares during the period. State of New Jersey Common Pension Fund D increased its position in Plug Power by 2.3% during the first quarter. State of New Jersey Common Pension Fund D now owns 4,500,000 shares of the electronics maker’s stock worth $8,505,000 after buying an additional 100,000 shares during the period. Northern Trust Corp increased its position in Plug Power by 1.3% during the first quarter. Northern Trust Corp now owns 2,649,873 shares of the electronics maker’s stock worth $5,008,000 after buying an additional 33,445 shares during the period. Allianz Asset Management GmbH acquired a new position in Plug Power during the fourth quarter worth approximately $4,198,000. Finally, Schwab Charles Investment Management Inc. increased its position in Plug Power by 3.1% during the first quarter. Schwab Charles Investment Management Inc. now owns 1,168,416 shares of the electronics maker’s stock worth $2,209,000 after buying an additional 35,299 shares during the period. 29.43% of the stock is currently owned by 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.

Analyst Recommendations for Plug Power (NASDAQ:PLUG)

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