Plug Power’s (PLUG) “Overweight” Rating Reaffirmed at KeyCorp

Plug Power (NASDAQ:PLUGGet Rating)‘s stock had its “overweight” rating reaffirmed by research analysts at KeyCorp in a report issued on Thursday, Stock Target Advisor reports. They presently have a $40.00 price objective on the electronics maker’s stock. KeyCorp’s target price would suggest a potential upside of 123.21% from the company’s previous close.

PLUG has been the topic of several other research reports. JPMorgan Chase & Co. cut their price target on Plug Power from $42.00 to $38.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 2nd. Evercore ISI lowered their price objective on shares of Plug Power from $50.00 to $46.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 2nd. Royal Bank of Canada reduced their target price on shares of Plug Power from $39.00 to $33.00 and set an “outperform” rating for the company in a report on Wednesday, March 2nd. Zacks Investment Research lowered Plug Power from a “hold” rating to a “sell” rating in a report on Tuesday, March 29th. Finally, Canaccord Genuity Group decreased their price objective on Plug Power from $25.00 to $21.00 and set a “hold” rating for the company in a research report on Monday, March 7th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Plug Power currently has a consensus rating of “Buy” and an average price target of $35.40.

PLUG opened at $17.92 on Thursday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 10.51 and a current ratio of 11.44. Plug Power has a one year low of $12.70 and a one year high of $46.50. The company has a market cap of $10.36 billion, a P/E ratio of -18.47 and a beta of 1.73. The business’s 50-day simple moving average is $22.19 and its 200-day simple moving average is $25.79.

Plug Power (NASDAQ:PLUGGet Rating) last released its quarterly earnings data on Monday, May 9th. The electronics maker reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.11). Plug Power had a negative return on equity of 11.78% and a negative net margin of 97.29%. The company had revenue of $140.80 million for the quarter, compared to analyst estimates of $142.99 million. During the same period in the previous year, the business posted ($0.12) EPS. The firm’s revenue for the quarter was up 95.7% compared to the same quarter last year. As a group, analysts predict that Plug Power will post -0.65 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in PLUG. Benjamin Edwards Inc. bought a new stake in Plug Power in the fourth quarter worth about $25,000. Parkside Financial Bank & Trust boosted its holdings in shares of Plug Power by 929.8% during the fourth quarter. Parkside Financial Bank & Trust now owns 968 shares of the electronics maker’s stock worth $27,000 after purchasing an additional 874 shares during the period. Activest Wealth Management purchased a new position in Plug Power during the fourth quarter valued at approximately $28,000. Acima Private Wealth LLC acquired a new position in shares of Plug Power in the fourth quarter worth $28,000. Finally, Tyler Stone Wealth Management acquired a new position in Plug Power in the 4th quarter worth about $28,000. 52.07% of the stock is owned by hedge funds and other institutional investors.

Plug Power Company Profile (Get Rating)

Plug Power Inc provides hydrogen fuel cell turnkey solutions for the mobility, material handling, and stationary power markets in North America and internationally. It focuses on proton exchange membrane (PEM) fuel cell and fuel processing technologies, and fuel cell/battery hybrid technologies, as well as related hydrogen and green hydrogen generation, storage, and dispensing infrastructure.

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