Plug Power (NASDAQ:PLUG) Lifted to “Strong-Buy” at BidaskClub

BidaskClub upgraded shares of Plug Power (NASDAQ:PLUG) from a buy rating to a strong-buy rating in a research note issued to investors on Saturday, BidAskClub reports.

PLUG has been the subject of several other reports. HC Wainwright set a $4.00 target price on shares of Plug Power and gave the company a buy rating in a research note on Wednesday, September 18th. Roth Capital raised shares of Plug Power from a neutral rating to a buy rating and raised their target price for the company from $3.00 to $6.00 in a research note on Monday, November 11th. Cowen set a $3.00 target price on shares of Plug Power and gave the company a buy rating in a research note on Tuesday, September 17th. Zacks Investment Research cut shares of Plug Power from a hold rating to a sell rating in a research note on Friday, January 10th. Finally, B. Riley reiterated a buy rating and set a $6.00 price objective (up previously from $3.50) on shares of Plug Power in a research report on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $4.50.

PLUG opened at $4.04 on Friday. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of -11.22 and a beta of 1.56. The company has a fifty day moving average of $3.39 and a 200 day moving average of $2.74. Plug Power has a fifty-two week low of $1.31 and a fifty-two week high of $4.42.

Plug Power (NASDAQ:PLUG) last posted its earnings results on Thursday, November 7th. The electronics maker reported ($0.09) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.02). The company had revenue of $56.38 million for the quarter, compared to analysts’ expectations of $55.58 million. Plug Power had a negative net margin of 47.21% and a negative return on equity of 6,429.00%. The business’s revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.07) earnings per share. On average, analysts anticipate that Plug Power will post -0.35 earnings per share for the current year.

In other Plug Power news, VP Gerard L. Conway, Jr. sold 100,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $3.50, for a total transaction of $350,000.00. Following the completion of the transaction, the vice president now owns 146,295 shares in the company, valued at $512,032.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 6.00% of the stock is owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the business. Private Advisor Group LLC lifted its holdings in shares of Plug Power by 55.1% in the 2nd quarter. Private Advisor Group LLC now owns 15,850 shares of the electronics maker’s stock worth $36,000 after acquiring an additional 5,633 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Plug Power by 35.6% in the 3rd quarter. SG Americas Securities LLC now owns 17,101 shares of the electronics maker’s stock worth $45,000 after acquiring an additional 4,494 shares during the last quarter. Centerpoint Advisors LLC lifted its holdings in shares of Plug Power by 220.0% in the 4th quarter. Centerpoint Advisors LLC now owns 16,000 shares of the electronics maker’s stock worth $51,000 after acquiring an additional 11,000 shares during the last quarter. MinichMacGregor Wealth Management LLC bought a new stake in shares of Plug Power in the 4th quarter worth about $63,000. Finally, Alpine Woods Capital Investors LLC lifted its holdings in shares of Plug Power by 100.0% in the 3rd quarter. Alpine Woods Capital Investors LLC now owns 40,000 shares of the electronics maker’s stock worth $105,000 after acquiring an additional 20,000 shares during the last quarter. Institutional investors and hedge funds own 32.12% of the company’s stock.

About Plug Power

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.

Further Reading: Hedge Funds Explained

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