Plug Power, Inc. (PLUG) Receives “Buy” Rating from B. Riley

B. Riley reaffirmed their buy rating on shares of Plug Power, Inc. (NASDAQ:PLUG) in a research note issued to investors on Thursday morning. They currently have a $3.50 target price on the electronics maker’s stock. B. Riley also issued estimates for Plug Power’s Q1 2018 earnings at ($0.07) EPS, Q2 2018 earnings at ($0.06) EPS and Q3 2018 earnings at ($0.04) EPS.

Other research analysts also recently issued reports about the company. Rodman & Renshaw reaffirmed a buy rating and set a $4.00 target price on shares of Plug Power in a report on Monday, July 24th. Cowen and Company reissued a buy rating and issued a $3.00 price objective on shares of Plug Power in a research note on Sunday, September 17th. BidaskClub raised Plug Power from a sell rating to a hold rating in a research note on Tuesday, July 25th. Zacks Investment Research downgraded Plug Power from a hold rating to a sell rating in a research note on Tuesday, September 26th. Finally, Roth Capital reissued a sell rating and issued a $1.30 price objective on shares of Plug Power in a research note on Sunday, July 23rd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $3.03.

Plug Power (NASDAQ PLUG) opened at $2.55 on Thursday. Plug Power has a twelve month low of $0.83 and a twelve month high of $3.21. The company has a quick ratio of 0.86, a current ratio of 1.29 and a debt-to-equity ratio of 0.62.

Plug Power (NASDAQ:PLUG) last announced its earnings results on Wednesday, November 8th. The electronics maker reported ($0.04) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.04). The firm had revenue of $61.43 million for the quarter, compared to the consensus estimate of $54.57 million. Plug Power had a negative return on equity of 83.93% and a negative net margin of 96.27%. The business’s quarterly revenue was up 249.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.07 EPS. analysts predict that Plug Power will post -0.48 earnings per share for the current year.

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In other news, Director George C. Mcnamee purchased 200,000 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The shares were acquired at an average cost of $2.20 per share, with a total value of $440,000.00. Following the purchase, the director now owns 486,131 shares in the company, valued at $1,069,488.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 4.90% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the stock. Archford Capital Strategies LLC raised its stake in Plug Power by 20,422.2% during the 2nd quarter. Archford Capital Strategies LLC now owns 1,847 shares of the electronics maker’s stock worth $115,000 after buying an additional 1,838 shares during the period. Nationwide Fund Advisors raised its stake in Plug Power by 4.6% during the 1st quarter. Nationwide Fund Advisors now owns 117,225 shares of the electronics maker’s stock worth $162,000 after buying an additional 5,127 shares during the period. Aperio Group LLC raised its stake in Plug Power by 6.4% during the 2nd quarter. Aperio Group LLC now owns 119,061 shares of the electronics maker’s stock worth $243,000 after buying an additional 7,166 shares during the period. American International Group Inc. raised its stake in Plug Power by 7.5% during the 1st quarter. American International Group Inc. now owns 111,649 shares of the electronics maker’s stock worth $154,000 after buying an additional 7,773 shares during the period. Finally, California State Teachers Retirement System raised its stake in Plug Power by 5.1% during the 2nd quarter. California State Teachers Retirement System now owns 395,969 shares of the electronics maker’s stock worth $808,000 after buying an additional 19,300 shares during the period. 23.70% of the stock is currently owned by institutional investors and hedge funds.

About Plug Power

Plug Power Inc is a provider of alternative energy technology focused on the design, development, commercialization and manufacture of hydrogen fuel cell systems used for the industrial off-road market and the stationary power market. The Company’s product line includes GenKey, GenDrive, GenFuel, GenCare and ReliOn.

Analyst Recommendations for Plug Power (NASDAQ:PLUG)

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