Wells Fargo & Company Analysts Give Plug Power (NASDAQ:PLUG) a $1.50 Price Target

Wells Fargo & Company set a $1.50 price objective on Plug Power (NASDAQ:PLUG) in a research report sent to investors on Thursday morning, Marketbeat Ratings reports. The brokerage currently has an equal weight rating on the electronics maker’s stock.

PLUG has been the topic of a number of other reports. Susquehanna increased their price target on Plug Power from $1.00 to $1.80 and gave the stock a “neutral” rating in a report on Monday, July 21st. Wall Street Zen upgraded Plug Power to a “sell” rating in a report on Tuesday, May 13th. BMO Capital Markets cut their price target on Plug Power from $1.10 to $1.00 and set an “underperform” rating on the stock in a report on Tuesday, August 12th. Roth Capital restated a “buy” rating on shares of Plug Power in a report on Tuesday, May 13th. Finally, Canaccord Genuity Group cut their target price on Plug Power from $1.25 to $1.00 and set a “hold” rating on the stock in a report on Tuesday, May 13th. Six investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $1.88.

Plug Power Stock Performance

NASDAQ:PLUG opened at $1.70 on Thursday. The company has a market capitalization of $1.96 billion, a PE ratio of -0.74 and a beta of 2.35. Plug Power has a fifty-two week low of $0.69 and a fifty-two week high of $3.32. The company has a 50 day simple moving average of $1.47 and a two-hundred day simple moving average of $1.34. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.07 and a current ratio of 1.59.

Plug Power (NASDAQ:PLUG) last posted its quarterly earnings results on Monday, August 11th. The electronics maker reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The business had revenue of $173.97 million for the quarter, compared to the consensus estimate of $157.97 million. Plug Power had a negative return on equity of 90.22% and a negative net margin of 292.84%. Research analysts anticipate that Plug Power will post -1.21 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Paul B. Middleton purchased 650,000 shares of the stock in a transaction that occurred on Monday, June 9th. The stock was acquired at an average cost of $1.03 per share, with a total value of $669,500.00. Following the transaction, the insider owned 2,558,064 shares of the company’s stock, valued at $2,634,805.92. This represents a 34.07% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.41% of the company’s stock.

Institutional Investors Weigh In On Plug Power

Large investors have recently made changes to their positions in the business. Miracle Mile Advisors LLC purchased a new stake in shares of Plug Power during the 1st quarter valued at $26,000. Sender Co & Partners Inc. purchased a new stake in shares of Plug Power during the 2nd quarter valued at $26,000. Ground Swell Capital LLC purchased a new stake in shares of Plug Power during the 4th quarter valued at $27,000. Baader Bank Aktiengesellschaft purchased a new stake in shares of Plug Power during the 1st quarter valued at $28,000. Finally, O ROURKE & COMPANY Inc purchased a new stake in shares of Plug Power during the 2nd quarter valued at $30,000. 43.48% of the stock is owned by hedge funds and other institutional investors.

Plug Power Company Profile

Plug Power Inc develops hydrogen and fuel cell product solutions in North America, Europe, Asia, and internationally. The company offers GenDrive, a hydrogen-fueled proton exchange membrane (PEM) fuel cell system that provides power to material handling electric vehicles; GenSure, a stationary fuel cell solution that offers modular PEM fuel cell power to support the backup and grid-support power requirements of the telecommunications, transportation, and utility sectors; ProGen, a fuel cell stack and engine technology used in mobility and stationary fuel cell systems, and as engines in electric delivery vans; GenFuel, a liquid hydrogen fueling delivery, generation, storage, and dispensing system; GenCare, an ongoing Internet of Things-based maintenance and on-site service program for GenDrive fuel cell systems, GenSure fuel cell systems, GenFuel hydrogen storage and dispensing products, and ProGen fuel cell engines; and GenKey, an integrated turn-key solution for transitioning to fuel cell power.