Plug Power (NASDAQ:PLUG) PT Set at $1.50 by Wells Fargo & Company

Key Points

• Wells Fargo & Company has raised its target price for Plug Power stock from $1.00 to $1.50, maintaining an "equal weight" rating, which suggests a potential downside of 8.26% from the stock's current price.
• Analysts exhibit mixed sentiments towards Plug Power, with a consensus rating of "Hold" and an average target price of $1.88, indicating that six analysts
• Plug Power's quarterly earnings showed a loss of ($0.16) per share, missing expectations while reporting revenues of $173.97 million, exceeding analyst estimates by $16 million.

Plug Power (NASDAQ:PLUG - Get Free Report) has been given a $1.50 target price by equities researchers at Wells Fargo & Company in a note issued to investors on Thursday, Marketbeat reports. The firm presently has an "equal weight" rating on the electronics maker's stock. Wells Fargo & Company's price target indicates a potential downside of 7.69% from the stock's current price.

Other research analysts have also issued research reports about the company. Morgan Stanley lowered their price target on Plug Power from $1.25 to $0.50 and set an "underweight" rating on the stock in a research report on Monday, May 19th. Canaccord Genuity Group reduced their price target on Plug Power from $1.25 to $1.00 and set a "hold" rating for the company in a research note on Tuesday, May 13th. BMO Capital Markets reduced their price target on Plug Power from $1.10 to $1.00 and set an "underperform" rating for the company in a research note on Tuesday. Wall Street Zen upgraded Plug Power to a "sell" rating in a research report on Tuesday, May 13th. Finally, Evercore ISI upgraded Plug Power to a "strong sell" rating in a research report on Tuesday, July 15th. Six research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Plug Power has a consensus rating of "Hold" and a consensus target price of $1.88.

Plug Power Stock Down 2.1%

NASDAQ PLUG traded down $0.04 during trading on Thursday, hitting $1.63. The stock had a trading volume of 10,193,889 shares, compared to its average volume of 87,527,414. The company has a market capitalization of $1.88 billion, a PE ratio of -0.70 and a beta of 2.35. The company's 50-day moving average price is $1.44 and its two-hundred day moving average price is $1.35. 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 has a 12 month low of $0.69 and a 12 month high of $3.32.

Plug Power (NASDAQ:PLUG - Get Free Report) last released its earnings results on Monday, August 11th. The electronics maker reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The firm had revenue of $173.97 million during the quarter, compared to the consensus estimate of $157.97 million. Plug Power had a negative net margin of 292.84% and a negative return on equity of 90.22%. As a group, sell-side analysts forecast that Plug Power will post -1.21 EPS for the current year.

Insider Buying and Selling at Plug Power

In related news, insider Paul B. Middleton purchased 650,000 shares of the firm's stock in a transaction dated Monday, June 9th. The stock was bought at an average price of $1.03 per share, with a total value of $669,500.00. Following the completion of the purchase, the insider owned 2,558,064 shares in the company, valued at approximately $2,634,805.92. This represents a 34.07% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.41% of the company's stock.

Institutional Investors Weigh In On Plug Power

Large investors have recently added to or reduced their stakes in the business. Ground Swell Capital LLC acquired a new stake in Plug Power during the fourth quarter worth approximately $27,000. Strategic Investment Solutions Inc. IL grew its stake in Plug Power by 1,182.4% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 14,696 shares of the electronics maker's stock worth $31,000 after purchasing an additional 13,550 shares during the period. Retirement Planning Group LLC NY acquired a new stake in Plug Power during the fourth quarter worth approximately $38,000. GTS Securities LLC grew its stake in Plug Power by 150.0% during the fourth quarter. GTS Securities LLC now owns 18,750 shares of the electronics maker's stock worth $40,000 after purchasing an additional 56,255 shares during the period. Finally, Miracle Mile Advisors LLC acquired a new stake in Plug Power during the first quarter worth approximately $26,000. Institutional investors and hedge funds own 43.48% of the company's stock.

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.