Plug Power’s (PLUG) Buy Rating Reaffirmed at HC Wainwright

Plug Power (NASDAQ:PLUG)‘s stock had its “buy” rating reaffirmed by research 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 267.26% from the stock’s previous close.

Several other research analysts have also recently issued reports on the stock. Weiss Ratings cut shares of Plug Power from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, July 28th. UBS Group restated a “buy” rating and set a $5.00 price objective on shares of Plug Power in a research report on Tuesday, August 11th. Jefferies Financial Group upgraded shares of Plug Power to a “hold” rating in a report on Thursday, September 3rd. Wall Street Zen downgraded shares of Plug Power from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. Finally, Morgan Stanley increased their price objective on shares of Plug Power from $1.50 to $1.65 and gave the company an “underweight” rating in a research note on Thursday, July 9th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Plug Power currently has an average rating of “Hold” and a consensus target price of $3.59.

Plug Power Stock Up 2.5%

PLUG traded up $0.05 during trading hours on Tuesday, hitting $1.91. 14,466,543 shares of the company’s stock were exchanged, compared to its average volume of 73,471,211. Plug Power has a 12-month low of $1.70 and a 12-month high of $4.58. The firm has a 50 day moving average of $2.13 and a 200 day moving average of $2.61. The firm has a market cap of $2.66 billion, a P/E ratio of -1.52 and a beta of 2.21. 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 (NASDAQ:PLUG) last posted its quarterly earnings results on Monday, August 10th. The electronics maker reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.01. Plug Power had a negative net margin of 220.59% and a negative return on equity of 56.01%. The company had revenue of $178.30 million during the quarter, compared to analysts’ expectations of $169.11 million. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. Analysts predict that Plug Power will post -0.26 EPS for the current fiscal year.

Insider Buying and Selling at Plug Power

In related news, insider Benjamin Haycraft sold 200,000 shares of the business’s stock in a transaction that occurred on Friday, September 18th. The stock was sold at an average price of $2.14, for a total value of $428,000.00. Following the completion of the sale, the insider owned 101,249 shares in the company, valued at approximately $216,672.86. The trade was a 66.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 232,560 shares of company stock worth $496,178 over the last ninety days. Insiders own 1.37% of the company’s stock.

Hedge Funds Weigh In On Plug Power

A number of large investors have recently bought and sold shares of the business. Envestnet Asset Management Inc. lifted its position in shares of Plug Power by 45.7% during the second quarter. Envestnet Asset Management Inc. now owns 27,568 shares of the electronics maker’s stock valued at $75,000 after buying an additional 8,642 shares during the last quarter. State Street Corp increased its position in shares of Plug Power by 6.1% during the second quarter. State Street Corp now owns 38,763,529 shares of the electronics maker’s stock worth $105,049,000 after purchasing an additional 2,214,427 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Plug Power by 9.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 702,003 shares of the electronics maker’s stock valued at $1,902,000 after purchasing an additional 63,074 shares during the last quarter. Tidal Investments LLC lifted its holdings in shares of Plug Power by 79.9% during the 2nd quarter. Tidal Investments LLC now owns 187,591 shares of the electronics maker’s stock valued at $508,000 after purchasing an additional 83,314 shares during the last quarter. Finally, WINTON GROUP Ltd purchased a new stake in shares of Plug Power during the 2nd quarter valued at $145,000. Institutional investors 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.