Plug Power (NASDAQ:PLUG)‘s stock had its “buy” rating restated by HC Wainwright in a research report issued to clients and investors on Thursday. They presently have a $4.00 price target on the electronics maker’s stock. HC Wainwright’s price objective points to a potential upside of 170.27% from the stock’s previous close.
The analysts wrote, “We are projecting the company to grow its topline at a seven-year CAGR of 22.1%, from $184.4M in 2018 to $746.7M in 2025. We believe that the company should be able to grow its gross margins from 17.0% in 4Q18 to over 35.0% in 2023 as revenues rise. We expect PLUG’s operating expenses to grow modestly at a seven-year CAGR of 3.1%, from $71.8M in 2018 to $89.0M in 2025. We expect the company to realize breakeven adjusted EBITDAS during the second half of 2019. We continue to believe that the company will generate net profits during 2020 and beyond.””
Several other brokerages have also commented on PLUG. Zacks Investment Research lowered Plug Power from a “buy” rating to a “hold” rating in a research note on Friday, November 16th. ValuEngine upgraded Plug Power from a “hold” rating to a “buy” rating in a research note on Tuesday, October 16th. Cowen set a $3.00 target price on Plug Power and gave the company a “buy” rating in a research note on Tuesday, October 16th. Finally, BidaskClub lowered Plug Power from a “hold” rating to a “sell” rating in a research note on Wednesday, December 5th. Two research analysts have rated the stock with a sell rating and seven have issued a buy rating to the stock. Plug Power presently has an average rating of “Buy” and a consensus price target of $3.18.
Shares of NASDAQ:PLUG opened at $1.48 on Thursday. The stock has a market cap of $352.41 million, a price-to-earnings ratio of -2.47 and a beta of 1.21. The company has a quick ratio of 0.60, a current ratio of 1.06 and a debt-to-equity ratio of 10.93. Plug Power has a 12 month low of $0.99 and a 12 month high of $2.42.
Plug Power (NASDAQ:PLUG) last announced its quarterly earnings results on Thursday, November 8th. The electronics maker reported ($0.07) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.01. The company had revenue of $55.30 million during the quarter, compared to analyst estimates of $50.44 million. Plug Power had a negative return on equity of 170.62% and a negative net margin of 52.31%. The firm’s revenue was down 10.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.06) earnings per share. Research analysts predict that Plug Power will post -0.32 EPS for the current fiscal year.
In other news, insider Gerard L. Conway, Jr. sold 100,000 shares of the stock in a transaction dated Monday, October 15th. The stock was sold at an average price of $1.86, for a total value of $186,000.00. Following the completion of the sale, the insider now owns 110,519 shares in the company, valued at $205,565.34. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 5.10% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of PLUG. Mirae Asset Global Investments Co. Ltd. purchased a new position in Plug Power in the third quarter valued at about $121,000. Metropolitan Life Insurance Co. NY boosted its holdings in Plug Power by 183.4% in the second quarter. Metropolitan Life Insurance Co. NY now owns 73,495 shares of the electronics maker’s stock valued at $148,000 after purchasing an additional 47,559 shares during the last quarter. Alps Advisors Inc. boosted its holdings in Plug Power by 387.8% in the third quarter. Alps Advisors Inc. now owns 90,509 shares of the electronics maker’s stock valued at $174,000 after purchasing an additional 71,955 shares during the last quarter. Global X Management Co LLC purchased a new position in Plug Power in the second quarter valued at about $266,000. Finally, Nomura Holdings Inc. boosted its holdings in Plug Power by 67.2% in the second quarter. Nomura Holdings Inc. now owns 369,608 shares of the electronics maker’s stock valued at $747,000 after purchasing an additional 148,511 shares during the last quarter. 27.03% of the stock is owned by hedge funds and other institutional investors.
Plug Power Company Profile
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.
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