Plug Power (NASDAQ:PLUG) Stock Keeps “Buy” Rating at HC Wainwright

Plug Power (NASDAQ:PLUG)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $7.00 target price on the electronics maker’s stock. HC Wainwright’s price target points to a potential upside of 269.39% from the company’s current price.

A number of other equities analysts have also recently commented on PLUG. Craig Hallum reissued a “buy” rating on shares of Plug Power in a report on Tuesday, August 11th. Wall Street Zen lowered Plug Power from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. Roth Capital reiterated a “buy” rating and set a $5.00 price target (up from $3.50) on shares of Plug Power in a research report on Wednesday, August 12th. Morgan Stanley increased their price objective on Plug Power from $1.50 to $1.65 and gave the company an “underweight” rating in a research note on Thursday, July 9th. Finally, Oppenheimer restated a “market perform” rating on shares of Plug Power in a report on Tuesday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Plug Power currently has a consensus rating of “Hold” and a consensus target price of $3.59.

Plug Power Price Performance

PLUG traded up $0.04 during trading on Tuesday, hitting $1.90. The company’s stock had a trading volume of 12,196,810 shares, compared to its average volume of 73,471,211. The company has a current ratio of 2.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.29. Plug Power has a twelve month low of $1.70 and a twelve month high of $4.58. The business’s fifty day simple moving average is $2.13 and its 200 day simple moving average is $2.61. The firm has a market capitalization of $2.65 billion, a price-to-earnings ratio of -1.51 and a beta of 2.21.

Plug Power (NASDAQ:PLUG) last released its quarterly earnings results on Monday, August 10th. The electronics maker reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.01. The firm had revenue of $178.30 million for the quarter, compared to analysts’ expectations of $169.11 million. Plug Power had a negative net margin of 220.59% and a negative return on equity of 56.01%. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. On average, equities research analysts forecast that Plug Power will post -0.26 EPS for the current fiscal year.

Insider Buying and Selling

In other Plug Power news, insider Benjamin Haycraft sold 200,000 shares of the firm’s stock in a transaction that occurred on Friday, September 18th. The shares were sold at an average price of $2.14, for a total value of $428,000.00. Following the transaction, the insider directly owned 101,249 shares of the company’s stock, valued at $216,672.86. This trade represents a 66.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 232,560 shares of company stock valued at $496,178. 1.37% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Plug Power

Several hedge funds and other institutional investors have recently made changes to their positions in PLUG. Envestnet Asset Management Inc. boosted its stake in Plug Power by 45.7% during the second quarter. Envestnet Asset Management Inc. now owns 27,568 shares of the electronics maker’s stock worth $75,000 after buying an additional 8,642 shares during the last quarter. State Street Corp grew its holdings in Plug Power by 6.1% in the 2nd quarter. State Street Corp now owns 38,763,529 shares of the electronics maker’s stock valued at $105,049,000 after buying an additional 2,214,427 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Plug Power by 9.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 702,003 shares of the electronics maker’s stock worth $1,902,000 after acquiring an additional 63,074 shares during the last quarter. Tidal Investments LLC increased its stake in shares of Plug Power by 79.9% in the 2nd quarter. Tidal Investments LLC now owns 187,591 shares of the electronics maker’s stock worth $508,000 after acquiring an additional 83,314 shares during the last quarter. Finally, WINTON GROUP Ltd purchased a new position in shares of Plug Power during the 2nd quarter worth $145,000. Institutional investors and hedge funds own 43.48% of the company’s stock.

More Plug Power News

Here are the key news stories impacting Plug Power this week:

• Positive Sentiment: Plug Power signed a 280-megawatt GenEco electrolyzer supply agreement for Arcadia eFuels’ Project ENDOR in Denmark. The electrolyzers will produce hydrogen used to make electro-sustainable aviation fuel at the Port of Vordingborg, giving Plug a potentially meaningful commercial project in the growing e-SAF market. Plug and Arcadia eFuels strategic partnership
• Positive Sentiment: The companies also established a strategic cooperation agreement positioning Plug as the preferred electrolyzer supplier for more than 1 gigawatt of Arcadia’s future e-SAF projects across Europe and the Americas. This expands the potential opportunity well beyond the initial Danish project, though future projects remain subject to development and investment decisions. Plug and Arcadia eFuels sign strategic partnership
• Neutral Sentiment: Project ENDOR is advancing toward a final investment decision, but the announcement does not indicate that construction has begun or disclose the contract’s financial value. Investors may therefore view the agreement as an important validation of Plug’s technology while awaiting firm revenue timing and project execution details. Arcadia eFuels picks Plug technology
• Neutral Sentiment: Brokerages maintain an average “Hold” rating on Plug Power, signaling that analysts see substantial execution and profitability risks despite the company’s project pipeline. Plug Power receives average Hold rating
• Negative Sentiment: Plug Power recently declined alongside Bloom Energy and other fuel-cell stocks as a sharp sector rally began to unwind. The pullback highlights continued volatility and profit-taking pressure, which could limit the stock’s response to otherwise favorable contract news. Fuel-cell stocks give back recent gains

About Plug Power

Plug Power Inc is a hydrogen and fuel cell technology company that develops integrated solutions for generating, storing, distributing and using hydrogen. The company serves commercial and industrial customers seeking alternatives to conventional power sources and fossil fuels.

Its product portfolio includes electrolyzers for producing hydrogen from water, hydrogen-generation and storage systems, fuel cell engines, and stationary power systems. Plug Power also provides hydrogen-fueled material-handling equipment, including systems used to power forklifts and other warehouse vehicles, along with related infrastructure, service and maintenance offerings.

Founded in 1997 and headquartered in Latham, New York, Plug Power has focused on expanding hydrogen applications across logistics, material handling, backup and distributed power, transportation, and industrial markets.