B. Riley Reiterates $4.00 Price Target for Plug Power (PLUG)

Plug Power (NASDAQ:PLUG) has been assigned a $4.00 price target by research analysts at B. Riley in a research note issued to investors on Friday. The firm currently has a “buy” rating on the electronics maker’s stock. B. Riley’s price objective indicates a potential upside of 119.78% from the stock’s current price.

Several other analysts have also recently commented on the stock. HC Wainwright set a $4.00 price objective on shares of Plug Power and gave the company a “buy” rating in a research note on Friday. Zacks Investment Research cut shares of Plug Power from a “buy” rating to a “hold” rating in a research note on Tuesday, January 23rd. BidaskClub cut shares of Plug Power from a “sell” rating to a “strong sell” rating in a research note on Wednesday, January 10th. ValuEngine cut shares of Plug Power from a “hold” rating to a “sell” rating in a research note on Monday, December 4th. Finally, Canaccord Genuity began coverage on shares of Plug Power in a research note on Friday, December 1st. They issued a “buy” rating and a $5.00 price objective for the company. Three 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. Plug Power currently has a consensus rating of “Hold” and an average target price of $3.28.

Shares of Plug Power (PLUG) traded up $0.10 during midday trading on Friday, hitting $1.82. 1,466,657 shares of the company traded hands, compared to its average volume of 3,316,883. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.29 and a quick ratio of 0.86. Plug Power has a 12-month low of $0.84 and a 12-month high of $3.21. The firm has a market capitalization of $452.37, a PE ratio of -2.89 and a beta of 1.52.

Plug Power (NASDAQ:PLUG) last announced its quarterly earnings data on Wednesday, November 8th. The electronics maker reported ($0.04) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.04). Plug Power had a negative net margin of 96.27% and a negative return on equity of 83.93%. The firm had revenue of $61.43 million during the quarter, compared to analysts’ expectations of $54.57 million. During the same quarter last year, the business earned $0.07 earnings per share. The business’s revenue for the quarter was up 249.0% compared to the same quarter last year. research analysts forecast that Plug Power will post -0.51 earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of PLUG. Schwab Charles Investment Management Inc. increased its holdings in Plug Power by 58.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,217,301 shares of the electronics maker’s stock valued at $2,484,000 after acquiring an additional 448,639 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Plug Power by 20.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 942,878 shares of the electronics maker’s stock valued at $1,923,000 after acquiring an additional 159,843 shares in the last quarter. Swiss National Bank increased its holdings in Plug Power by 15.3% during the 2nd quarter. Swiss National Bank now owns 325,200 shares of the electronics maker’s stock valued at $663,000 after acquiring an additional 43,100 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Plug Power by 41.6% during the 2nd quarter. Wells Fargo & Company MN now owns 178,079 shares of the electronics maker’s stock valued at $363,000 after acquiring an additional 52,300 shares in the last quarter. Finally, Alliancebernstein L.P. increased its holdings in Plug Power by 279.4% during the 2nd quarter. Alliancebernstein L.P. now owns 179,790 shares of the electronics maker’s stock valued at $367,000 after acquiring an additional 132,400 shares in the last quarter. Hedge funds and other institutional investors own 24.44% of the company’s stock.

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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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